LAW | Market Cap: $259.7M (07/13/26)
Industry:
Software

DESCRIPTION

DISCO sells cloud-native, AI-powered software for ediscovery—the process by which legal teams collect, search, and review electronic documents during litigation or legal investigations. DISCO's core product, DISCO Ediscovery, handles the full workflow from data collection and processing through document production. Layered on top is an AI suite branded as Cecilia, which includes a natural language chatbot, timeline creation, document summarization, and Auto Review, a generative AI tool that automates first-pass document review at up to 32,000 documents per hour. Beyond ediscovery, DISCO offers adjacent products covering legal holds, subpoena response, managed document review, and case preparation. DISCO sells to corporate legal departments, law firms, and legal services providers through a direct sales force, and benefits from a viral acquisition dynamic where law firms expose their corporate clients to the platform. DISCO uses a usage-based pricing model where customers pay per gigabyte of data stored and processed, so revenue scales with the number and size of legal matters on the platform. Revenue splits into software (~85%) and services (~15%), with management prioritizing software growth given its higher margins. DISCO's growth strategy focuses on winning larger, more complex matters, expanding wallet share within its existing customer base, targeting specific litigation profiles like IP cases, and expanding internationally, where less than 10% of revenue currently originates.

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