Court reporting and litigation services provider Steno has raised $49 million in Series C funding. The round was led by Savano Capital Partners with continued participation from First Round Capital, The Legal Tech Fund, and other strategic investors.
Steno says that the new capital will allow it to triple its investments in both its expansion and the development of its litigation technology suite. The Los Angeles-headquartered company in 2024 launched Transcript Genius, an AI-powered transcript analysis tool. It says this funding will accelerate ‘the next generation of Transcript Genius.’
Greg Hong, CEO of Steno said: “Today’s investment allows us to release a vastly improved, differentiated offering that stays ahead of anything else in the market. Because we operate as both a world-class services provider and a tech company, we have a unique advantage: we live inside litigation workflows every day. That hybrid position allows us to build AI capabilities that software-only companies simply cannot replicate.”
“Today’s investment marks a major milestone in Steno’s journey as we work to combine personalized service with the latest technology,” added Prabhdeep Singh, COO of Steno. “We’ve already redefined transcript analysis with Transcript Genius, launched the first modern marketplace for court reporting professionals to manage their careers, and made remote litigation easier with Steno Connect. Now, we’re finding new ways for lawyers to work with testimony and case data. Our goal is to expand beyond simple automation, providing a unified platform where data-informed AI and expert litigation support work together to solve the complex challenges law firms face daily.”
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