Tag: IPO

Legal Tech Startup CS Disco Files to go Public

July 3, 2021 /
Law scale rules regulations

CS Disco, a legal tech startup, filed papers with the U.S. Securities and Exchange Commission for an initial public offering of stock.

The Austin-based company did not set a date to go public or a price for its shares, which will be traded under the stock ticker “LAW.”

CS Disco plans to use the proceeds from the stock sale for “working capital and other general corporate purposes, including developing and enhancing our technical infrastructure, solutions, and services, expanding our research and development efforts and sales and marketing operations, meeting the increased compliance requirements associated with our transition to and operation as a public company and expanding into new markets,” according to the filing. The company could also use the net proceeds to acquire complementary businesses, products, services, or technologies, but it doesn’t have any plans to do so right now.

CS Disco reported revenue of $68.4 million for 2020, compared to revenue of $48.5 million for 2019. It also reported a net loss of $29.8 million for 2020 and a net loss of $22.8 million for 2019.

The company gets less than 5 percent of its revenue from international sales, but it plans to expand further.

To date,  CS Disco has raised $161 million in venture capital, according to its filing. The company reported that it had $53.6 million of cash and cash equivalents as of March 31st, 2021.

CS Disco uses artificial intelligence and cloud computing to help lawyers and legal teams. As of March 31, 2021, the company reported it had 909 enterprises, law firms, legal services providers, and government organizations as its customers.

And the market is growing.

“Legal services is a massive, growing global industry that we believe is significantly underpenetrated by modern technology solutions,” according to the company’s filing. “According to Statista, total global legal services spend is forecasted to be $767 billion in 2021 and grow to $846 billion in 2023. Within legal services, DISCO Ediscovery addresses the ediscovery market. According to International Data Corporation, the worldwide ediscovery software and services market is forecasted to be $14.7 billion in 2021 and grow to $16.9 billion by 2024.”

Founded in 2013, CS Disco moved its headquarters from Houston to Austin in 2018. As of March, the company had 336 full-time employees.

Austin-Based Upland Software Files to Go Public

September 5, 2014 / / 0 Comments

imgres-5Upland Software filed a registration statement with the Securities and Exchange Commission Friday for an Initial Public Offering.

The Austin-based company plans to raise up to $50 million, but it has not yet determined the price range for its stock or the number of shares it plans to offer for sell. It plans to list its stock on the New York Stock Exchange under the symbol “UPLD.”

Upland makes cloud-based enterprise management software. Its software is used to plan, manage and execute projects. It sells its software applications through a direct sales organization. It also sells through distributors and resellers. At the end of last year, Upland has more than 1,200 customers and more than 200,000 users in a variety of industries including financial services, retail, healthcare, technology manufacturing, education and more. The company reports increasing its staff from three employees in 2011 to 277 employees at the end of last year.

Upland’s revenue was $41.2 million in 2013, up from $22.8 million in 2012. It reported a net loss of $2.5 million in 2012 and $9.2 million in 2013.

Upland plans to use the money it raises through its IPO to repay its loans and interest on those loans. And it plans to use the proceeds for working capital and other general corporate expenses including buying other companies.

Bazaarvoice stock soars in its first day of trading

February 24, 2012 / / 1 Comment

Brett Hurt, CEO and founder of Bazaarvoice, photo courtesy of McCombsToday.org

Bazaarvoice made some newly minted Austin millionaires today.
The social media marketing company stock debuted on the Nasdaq, priced at $12 a share, Friday morning and rose as high as 41 percent to $17.16 in the afternoon.
The stock, traded under the stock symbol BV, opened at $15.77 a share, up 33 percent, when trading began. The company raised $114 million in its initial public offering. Check Yahoo Finance for its most recent trading activity.
It’s Austin’s first IPO for a tech company this year.
Bazaarvoice provides online social marketing services and software to companies. It helps companies capture and display reviews on their websites and promote their brands online. Its customers include Cabela’s, Footlocker.com, Petco, Sephora USA, LG Electronics, Microsoft, Philips Consumer, Proctor & Gamble, Newell Rubbermaid, Orbitz and USAA, among others. The company reported revenue of $64.5 million in 2011 and a net loss of $20 million.
Bazaarvoice has raised $20 million in venture capital from Battery Ventures, First Round Capital and others, according to TechCrunch.

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