CS Disco became a public company last week debuting on the New York stock exchange under the stock symbol LAW.
The Austin-based legal tech company offered its stock at $32 a share and raised $224 million from its Initial Public Offering. And when the stock began trading on Wednesday it “opened at $42.26 and closed at $42.59, up 33% from its offer price. At $42.59, Disco is valued at $2.4 billion,” according to Barron’s.
On Friday, Disco’s stock closed Friday at $44.81, up almost five percent since its debut.
“Our IPO is a milestone, not an endpoint. We continue to have ambitious goals for our products and our continued growth,” Kiwi Camara, Disco’s CEO and Co-Founder said in a statement. “We believe access to the public markets will only improve our ability to better serve our customers’ needs — and better pursue our mission of using technology to strengthen the rule of law.”
DISCO uses artificial intelligence and cloud computing to help lawyers and legal teams. DISCO has more than 900 corporations, law firms, and government agencies as customers.
The company, founded in 2013, moved its headquarters from Houston to Austin in 2018.
CS Disco had raised $161 million in venture capital, according to its filing. Its investors include LiveOak Venture Partners, Breyer Capital, Georgian Partners, Bessemer Venture Partners, The Stephens Group and Comerica.