The authorized information intelligence firm Relativity says it has confidentially submitted a draft registration assertion with the U.S. Securities and Change Fee for a proposed preliminary public providing of its Class A standard inventory.
The submitting isn’t but out there to the general public, and the variety of shares to be provided and the value vary for the proposed providing haven’t but been decided.
No authorized expertise firm has accomplished an IPO since 2021. That yr, three authorized tech corporations held IPOs: e-discovery firm DISCO on July 21, enterprise software program firm Intapp on June 30, and authorized assist supplier LegalZoom additionally on June 30.
Since then, authorized tech has seen heavy late‑stage funding, reminiscent of Clio’s $500M Sequence G final yr, and lively M&As, moderately than IPO exits.
On March 9, Relativity introduced a brand new model identification that expanded from its roots as an e-discovery firm to what it now calls a authorized information intelligence firm.
“With non-litigation issues now accounting for greater than 55 p.c of the info coming into RelativityOne,” the corporate mentioned, “this class extra precisely displays how Relativity’s neighborhood is utilizing the platform past conventional e-discovery.”
In 2021, a strategic progress funding from Silver Lake, one of many world’s largest non-public fairness expertise traders, valued Relativity at $3.5 billion.
The proposed IPO is topic to the completion of the SEC evaluation course of, in addition to market and different circumstances, Relativity mentioned.
