Robert Ambrogi Blog
Forbes is out this week with its 10th annual Cloud 100 list, tracking the top companies in cloud computing, and four legal tech companies made the list, while one dropped off from last year.
Two other legal tech companies were highlighted as rising stars — “startups on track to be some of the best private cloud companies in the future.”
Included on this year’s list are Clio, which rose from 56th on the list last year to 46th this year; DeepL, an AI translator used by legal professionals and in other industries, which ranked 75th; Harvey, the gen AI legal automation software, which ranked 91st; and EvenUp, the AI platform for personal injury lawyers, which ranked 100th.
The two legal tech companies that made the list as Rising Stars are Crosby, an AI-powered law firm, and InfoDash, a knowledge-sharing platform for law firms.
Icertis, which was ranked 39th on the 2024 list, did not make this year’s list.
Of Clio, Forbes said in part: “Over 200,000 legal experts use Clio, whose software is endorsed by more than 100 law societies and bar associations around the globe, including all 50 state bar associations in the United States. Clio, which has raised a total of $1.29 billion to date, announced in June it would acquire vLex—the company behind Vincent AI, an AI-powered legal research assistant—for $1 billion.”
About DeepL, Forbes said in part: “One of Google Translate’s top rivals, DeepL was founded in 2017 by Polish entrepreneur Jaroslaw Kutylowski. Its AI-powered software enables users to translate text and files into 30 different languages, including Estonian, Japanese and Portuguese, or to make writing in another language sound more natural.”
Regarding Harvey, Forbes wrote in part: “Lawyers’ desks are notoriously covered in paperwork, but Harvey can make all that clutter disappear. The AI company is built to securely store thousands of sensitive documents – including court records – and quickly allow lawyers to get answers to complex legal queries.”
As for EvenUp, the Forbes’ editors said in part: “The $1 billion company now powers over 1,500 personal injury firms, helping to analyze medical records and generating over $7 billion in claims to date. Its expansion efforts include new headquarters in San Francisco and the launch of workflow tools to reduce delays in document draft and review times.”
Among the factors considered in compiling the list are market leadership, company valuation, operating metrics, and people and culture.
Selections are made by Forbes in collaboration with Bessemer Venture Partners and Salesforce Ventures. Note that Bessemer led Clio’s 2014 Series C financing round.