Filevine, a legal practice management software company founded in 2014 and based in Salt Lake City, has raised $400 million in funding, reflecting strong investor confidence in its growth potential driven by innovative AI solutions and expanding product capabilities.

The funding was led by Insight Partners and co-led by Accel and Halo Fund, with participation from Meritech, Stepstone, Run Ventures, and Album Ventures, and has increased the company's valuation to approximately $3 billion.

Serving nearly 6,000 customers and 100,000 legal professionals, Filevine's platform processes over 20 million pages of documents daily and is used across boutique firms, government agencies, and Fortune 500 companies, maintaining high customer retention rates.

The company describes its platform as a 'Legal Operating Intelligence System' that integrates case management with AI capabilities, supporting functions like litigation workflows, deposition management, and secure document handling.

Recently, Filevine launched Depositions by Filevine, an AI-driven tool that automates deposition scheduling, analysis, and transcript review, saving thousands of staff hours and nearly $2 million in costs.

Filevine's AI tools include document filtering for medical chronologies and real-time deposition testimony analysis, reflecting a strategic shift towards AI-driven solutions.

The platform leverages comprehensive case data and AI to surface insights, supporting end-to-end litigation functions such as deposition management with live insights during depositions.

The company aims to replace fragmented tools and data sets with a unified platform that combines case management, automation, communication, billing, compliance, and analytics.

Future enhancements include improved data visualization, daily news and custom alerts, and integration of news and research to streamline legal operations.

AI features like document filtering and real-time deposition analysis are central to Filevine's strategy, with plans to expand its generative AI transcription tool to support depositions nationwide by the end of 2025.

Most of the company's revenue now comes from AI products, with a focus on building advanced AI workflows for litigators, emphasizing that AI will augment rather than replace lawyers.

Filevine also plans to pursue acquisitions, such as its recent purchase of court reporting firm Parrot, and is actively building brand recognition ahead of the Lex Summit conference.