Legal Tech Sees 80% Funding Surge Amid AI Boom

Amid increased investor confidence and momentum from artificial intelligence, the legal technology industry continued its rapid growth in the first quarter as funding for companies surged by about 80% year-over-year.

Legal tech companies raised about $1.83 billion in the first quarter, up from about $1 billion in the same period last year, according to a Law360 Pulse analysis of readily available public data, including prior Law360 coverage, company statements, U.S. Securities and Exchange Commission filings, social media posts from companies or their leaders and reports from Crunchbase and other trade publications.