Legal Technology Companies - Canada: Part One
Ten of the top legal tech companies operating in Canada ranked by revenue are Epiq, Osler, Kira Systems, HighQ, Luminance, ROSS Intelligence, Clio, Lex Machina, Fastcase, and Blue J Legal. The requested data for each company has been entered into the attached spreadsheet in columns A through C of rows 2 through 11.
TOP TEN LEGAL TECH COMPANIES IN CANADA
- Revenue - $1 billion
- Revenue - $85 million
3. KIRA SYSTEMS
- Revenue - $37 million
- Revenue - $16 million
- Revenue - $13.4 million
6. ROSS INTELLIGENCE
- Revenue - $9.8 million
- Revenue - $8.2 million
8. LEX MACHINA
- Revenue - $8 million
- Revenue - $7.9 million
10. BLUE J LEGAL
- Revenue - $6 million
Our research began by searching through the database of market research firms like MarketsandMarkets, Grand View Research, as well as media sources such as Business Insider and PR Newswire for information on the major/top/largest legal tech companies operating in Canada. While we could not uncover market reports on the Canadian legal tech industry, we found some legal tech companies operating in Canada in media articles, though the revenue of these companies were not highlighted nor were they ranked.
We then proceeded to search through business directories as well as industry news sources/regulatories/authoritative agencies' databases like Canadian Lawyer, where we found an article on the legal tech industry in Canada that highlighted some of the major players in the nation. Also, we performed an x-ray search to uncover more legal tech companies operating in Canada. We were able to find some in addition to the ones we found earlier.
Eventually, we developed a list of 25 legal tech companies in the country, including Kira Systems, Clio, Blue J Legal, ROSS Intelligence, Epiq, Closing Folders, Lex Machina, Fastcase, HighQ, Recommind, Luminance, iManage RAVN, Legal Innovation Zone, Prosperoware, QuickBooks Online, Codify Legal Publishing, Knomos, Stikeman Elliott’s Technology Group, OSLER, and Loom Analytics. We then leveraged company data aggregator databases such as ZoomInfo, Crunchbase, Hoover, Craft, and Owler, as well as the company's databases and media sources to uncover their revenue/estimated revenue. Afterward, we proceeded to determine the top ten companies based on revenue/estimated revenue. We were unable to find information or data points to triangulate some of the legal tech companies' revenue like Codify, Loom Analytics, etc. Hence, we could not consider them in our ranking though they are notable.
Please note that pre-existing lists on the top/major/largest legal tech companies in Canada ranked by revenue was unavailable in the public domain or behind a paywall after a thorough and exhaustive search. Hence, we adopted the strategy outlined above. Also, note the wide revenue gap between the first company (Epiq) and others in the industry as the number of countries serviced and products/services offered by Epiq is much broader than what the others provide. Since a majority of these companies are privately held, the specific revenue generated from legal tech solution could not be estimated due to limited data points/information in the public domain regarding these companies, but some of those with lower revenues are mainly focused on legal tech solutions.