Everlaw Announces a 3-Year Revenue CAGR of 67% Driven By Increased Demand for Cloud-Based Legal Technology
May 03, 2021 1:48 PM ET
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Everlaw, the cloud-based ediscovery and litigation platform, today announced a banner year of corporate growth coinciding with Illuminate, the company's inaugural virtual conference. The company reported compound annual revenue run rate growth (CAGR) of 67% over the past three years, including a 140% increase in UK revenue year-over-year. Additionally, the company saw a three-year case count CAGR of 99%.
The cloud has significantly transformed a large range of industries, with public cloud spending expected to reach almost $305 billion this year as teams recognize the speed, convenience and security that the cloud offers. The Covid-19 pandemic has further accelerated this cloud adoption with the legal industry, forcing lawyers, firms and courts to embrace technology in a way they never had with 84% of partners reporting plans to increase their technology spending last year. These investments are already paying off, as firms report significant improvements in both quality of work and time efficiency.
"The legal industry is experiencing a period of rapid transformation, and legal teams are starting to recognize the robust potential that cloud-based technology has for collaborative litigation to discover the needle-in-a-haystack pieces of information needed to argue and win cases," said Everlaw CEO AJ Shankar. "Everlaw's steady growth and strong customer adoption is a testament to the power of modern ediscovery and Everlaw's ongoing commitment to uncover the truth and advance justice."
Everlaw is used by 76 of the Am Law 100, and in the past year signed new contracts with Am Law 200 firms like Jones Day, Reed Smith and Wilson Sonsini Goodrich & Rosati. The company has also expanded its enterprise accounts, solidifying engagements with Lime, Snowflake and Vail Resorts. With 268 new cases migrated from other ediscovery vendors, Everlaw has cemented itself as a top ediscovery provider.
"Everlaw has been an integral part of Lime's growth as we surpassed a landmark milestone of 200 million rides this year," said Jesse Murray, Head of Trust and Safety at Lime. "Gaining greater autonomy over our data and litigation workflows has completely changed our legal framework and the way our business runs. We're looking forward to our continued partnership with Everlaw as they scale and carry this momentum into the next chapter."
Compounding a year of record-growth, Everlaw was honored by respected market awards and notable industry recognitions. Its platform innovations were spotlighted in the Grid Report for Ediscovery, with Everlaw maintaining a top spot as the No. 1 ediscovery solution for four quarters in a row. In addition, the LegalTech Breakthrough Awards named Everlaw the "Overall eDiscovery Solution Provider of the Year," and the National Law Review included the company on its list of Legal Technology Trailblazers. Everlaw was also recognized locally for its growth and unique culture, receiving recognition as the "San Francisco Bay Area's Best and Brightest" and the San Francisco Business Times' "Largest East Bay Tech Employers."
Everlaw blends cutting-edge technology with modern design to help law firms, government entities, and corporations solve the toughest problems in the legal industry. Everlaw is used by 76 out of the AM Law 100, Fortune 100 corporate counsels, and all 50 U.S. state attorneys general. Everlaw's North American headquarters is in Oakland, Calif., and European headquarters is in London, UK. The company is funded by top-tier investors, including CapitalG, Menlo Ventures, Andreessen Horowitz, and K9 Ventures.
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