CS Disco, which provides software for ediscovery, legal document review, and case management, announced terms for its IPO on Monday.
The Austin, TX-based company plans to raise $193 million by offering 7 million shares at a price range of $26 to $29. At the midpoint of the proposed range, CS Disco would command a fully diluted market value of $1.6 billion.
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. As of March 2021, the company's solution held more than 10 billion files and 2.5 petabytes of data, and it used more than 14 billion serverless compute calls in 2021 to process and enrich data for its customers.
CS Disco was founded in 2013 and booked $74 million in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol LAW. J.P. Morgan, BofA Securities, Citi, and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of July 19, 2021.
