Litigation Finance Startup Legalist Raises $100 Million to Fund Lawsuits - ADR Toolbox

Legalist, a San Francisco-based litigation finance company started by two Harvard University dropouts and advised by retired 7th U.S. Circuit Court of Appeals Judge Richard Posner, has just raised $100 million, which it will use to fund plaintiffs in 100-200 commercial cases over the next two years. Legalist scrapes federal and state court records and then uses algorithms to predict case outcomes and determine the best cases in which to invest. It invests exclusively in mid-market cases that require less than $1 million in funding. "Legalist leads the new wave of technologists using artificial intelligence and machine learning to streamline and underwrite litigation investments," says the company's website. "Our proprietary technology has been recognized by leading publications as revolutionizing the way plaintiffs interact with the justice system."