It’s one for the record books! Today at Legaltech, cloud legaltech leader DISCO announced record-breaking 2018 results and plans for continued expansion in 2019.
In 2018, revenue grew more than 100 percent year over year, as it has every year since DISCO was founded. DISCO hired 125 people, added 238 new corporate and law firm customers, opened its first international office in London, moved its corporate headquarters to Austin, and added new executives from Offers.com, Bazaarvoice, Epiq, and Google.
Total investment in DISCO exceeds $135 million after a financing announced earlier this month. DISCO will use this money to invest in its core ediscovery product, broaden its product platform to litigation management, and accelerate its international expansion in Europe, Asia, and Australia. The company plans to add 400 people over the next two years, more than half of them in product and engineering.
“Legaltech is going to transform the way great lawyers deliver legal services,” said Neil Etheridge, DISCO’s chief marketing officer. “We’ve only seen the beginning of what artificial intelligence and analytics can do for the law. We are excited to partner with our customers across more and more of their practice as we expand our offerings and geographic reach.”
DISCO’s customer base continues to expand globally as law firms and corporate legal department embrace cloud-based ediscovery. Taking on nearly 130 percent new matters in 2018 over 2017, DISCO increased its AmLaw customer base by 35 percent, working with firms such as Kennedys, Manatt, Phelps & Phillips, and Quarles and Brady. Its plaintiff law firm business grew by 163 percent with customers including Kahn Swick & Foti, Motley Rice and Blasingame, Burch, Garrard & Ashley. It nearly doubled is corporate client base, and grew its litigation boutique business by nearly 50 percent.
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