Total amount raised
$125 Million
Latest funding date
3/1/2021
Location
Relativity has successfully raised funding over three rounds, with the latest being a debt financing round led by JPMorgan Chase & Co. The company is backed by four investors, including ICONIQ Growth.
Relativity offers a versatile and scalable platform designed to solve legal data challenges, backed by advanced AI solutions. Keep reading to explore the intricacies of Relativity's fundraising journey and the investors backing this innovative platform.
What Is Relativity?
Relativity, based in Chicago, Illinois, is a leading legal data intelligence company. It provides AI-powered software solutions designed to help users organize data, discover the truth, and act on it. The company operates in various sectors, including computer, ediscovery, enterprise software, information technology, legal, legal tech, and software.
Founded with a mission to tackle legal data challenges, Relativity has grown significantly, employing between 1001 and 5000 people. The company is known for its versatile platform, RelativityOne, and its commitment to social impact, sustainability, and diversity.
How Much Funding Has Relativity Raised?
- Funding Round: Private Equity
- Amount Raised: USD 125,000,000
- Date: February 2015
- Lead Investors: ICONIQ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for growth and development of their e-discovery platform.
- Funding Round: Private Equity
- Amount Raised: Not specified
- Date: March 2021
- Lead Investors: Silver Lake
- Valuation at Round: USD 3,600,000,000
- Motivation Behind the Round: To devote more resources into the development and growth of its products, including RelativityOne and Relativity Trace, and to expand into new geographies.
Total Amount Raised: USD 125,000,000
Current Valuation: USD 3,600,000,000
Key Investors
- Silver Lake
- Details: Silver Lake is a global leader in technology investing, with a focus on large-scale investments in technology and tech-enabled industries. It became the largest shareholder in Relativity with a significant minority stake.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Dell Technologies, Airbnb, Twitter.
- ICONIQ Growth
- Details: ICONIQ Growth is a tech-focused investment firm that provides capital to high-growth companies. It invested $125 million in Relativity in 2015 and remains a key investor.
- Investment Focus Areas: Technology, software, enterprise solutions.
- Notable Investments: Snowflake, Datadog, Uber.
- JPMorgan Chase & Co.
- Details: JPMorgan Chase & Co. is a leading global financial services firm with operations worldwide. It has been involved in multiple funding rounds for Relativity.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Robinhood, Plaid, Toast.
What's Next for Relativity?
Relativity stands at the cusp of significant growth opportunities, driven by its robust cloud product, RelativityOne, and its AI-based communication surveillance platform, Relativity Trace. With over 300,000 annual users in 49 countries, the company is poised to expand its market presence and enter new geographies, leveraging its recent $3.6 billion valuation.
Future fundraising opportunities seem promising, given the strategic investment from Silver Lake and the continued support from ICONIQ. These investments will likely fuel further development and expansion, positioning Relativity to capitalize on the increasing reliance on SaaS platforms and AI-based tools in the legal tech industry.
However, Relativity may face challenges such as intense competition in the e-discovery space, the need to integrate and scale new technologies, and navigating regulatory requirements in new markets. Addressing these challenges will be crucial for sustaining its growth trajectory and maintaining its competitive edge.
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