The
legal
data
intelligence
company
Relativity
says
it
has
confidentially
submitted
a
draft
registration
statement
with
the
U.S.
Securities
and
Exchange
Commission
for
a
proposed
initial
public
offering
of
its
Class
A
common
stock.
The
filing
is
not
yet
available
to
the
public,
and
the
number
of
shares
to
be
offered
and
the
price
range
for
the
proposed
offering
have
not
yet
been
determined.
No
legal
technology
company
has
completed
an
IPO
since
2021.
That
year,
three
legal
tech
companies
held
IPOs:
e-discovery
company
DISCO
on
July
21,
business
software
company
Intapp
on
June
30,
and
legal
help
provider
LegalZoom
also
on
June
30.
Since
then,
legal
tech
has
seen
heavy
late‑stage
funding,
such
as
Clio’s
$500M
Series
G
last
year,
and
active
M&As,
rather
than
IPO
exits.
On
March
9,
Relativity
announced
a
new
brand
identity
that
expanded
from
its
roots
as
an
e-discovery
company
to
what
it
now
calls
a
legal
data
intelligence
company.
“With
non-litigation
matters
now
accounting
for
more
than
55
percent
of
the
data
coming
into
RelativityOne,”
the
company
said,
“this
category
more
accurately
reflects
how
Relativity’s community
is
using
the
platform
beyond
traditional
e-discovery.”
In
2021,
a
strategic
growth
investment
from Silver
Lake,
one
of
the
world’s
largest
private
equity
technology
investors,
valued
Relativity
at
$3.5
billion.
The
proposed
IPO
is
subject
to
the
completion
of
the
SEC
review
process,
as
well
as
market
and
other
conditions,
Relativity
said.