DISCO provides a cloud-native, artificial intelligence-powered legal solution that simplifies ediscovery, legal document review and case management for enterprises, law firms, legal services providers and governments. Our scalable, integrated solution enables legal departments to easily collect, process and review enterprise data that is relevant or potentially relevant to legal matters. We leverage a cloud-native architecture and powerful artificial intelligence, or AI, models to automatically identify legally relevant documents and improve the accuracy and speed of legal document review. Our AI models continuously learn from legal work conducted on our solution and can be reused across legal matters, which further strengthens our ability to help our customers find evidence and resolve matters faster as they expand usage of our solution.
We provide legal departments with the ability to centralize legal data into a single solution, improving security and privacy for our customers, enabling transparent collaboration with other legal industry participants and allowing customers to reuse data and lawyer work product across legal matters. As of March 2021, our solution held more than 10 billion files and 2.5 petabytes of data and we used more than 14 billion serverless compute calls in 2021 to process and enrich data for our customers. By automating the manual, time-consuming and error-prone parts of ediscovery, legal document review and case management, we empower legal departments to focus on delivering better legal outcomes.
Since our founding in 2013, and beginning with our founders, DISCO has assembled a team that combines strength in software engineering, cloud computing and AI, with deep legal expertise and a rich understanding of the problems that lawyers and legal professionals face and how they work. This combination of expertise means that our team is distinctly well-positioned to execute on our vision of building technology that powers the legal function across companies in every industry.
Lawyers and legal professionals love our solution, as demonstrated by our Net Promoter Score, or NPS, of 63 as of Dec. 31, 2020.
In 2020, 171 law firms in the 2020 AmLaw 200, a ranking of the 200 highest-grossing law firms in the United States, used DISCO in the course of legal work on behalf of their clients. As of March 31, 2021, we had 909 enterprises, law firms, legal services providers and government organizations as DISCO customers.
(Note: CS DISCO priced its IPO at $32 – above its recently increased price range of $30 to $31 – on 7 million shares, the same number of shares in the prospectus, to raise $224 million. CS DISCO increased the price range of its IPO – to $30 to $31 – from its initial range of $26 to $29 – and kept the number of shares at 7 million – to raise $213.5 million, according to an S-1/A filing dated July 19, 2021.)
|Industry:||SERVICES - PREPACKAGED SOFTWARE|
|Address||700 N. Capital of Texas Hwy. Suite 150 Austin, Texas 78746|
|Phone Number||(833) 653-4726|
|View Prospectus:||CS Disco|
|Revenues||$73.91 mil (last 12 months)|
|Net Income||$-14.57 mil (last 12 months)|
|Price range||$32.00 - $32.00|
|Est. $ Volume||$224.0 mil|
|Manager / Joint Managers||J.P. Morgan/ BofA Securities/ Citigroup/ Jefferies|
|CO-Managers||Canaccord Genuity/ Cowen and Company/ Needham & Co./ Stifel/ Loop Capital Markets|
|Expected To Trade:||7/21/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|