Casetext, Inc.

About Casetext, Inc.

Financials

Dated, source-cited figures. Estimates are marked.

Products by Casetext, Inc.

All products by Casetext, Inc. reviewed by our AI panel of experts.

CasetextAI Legal

AI legal assistant built on GPT-4 for legal research and document review

Free7.6/10

Competitive Landscape

Who Casetext, Inc. competes with, and how they differ.

LexisNexis8.0/10

The incumbent Casetext was built to undercut: a full primary-law database bundled with the Shepard's citator, sold on multi-year enterprise contracts, where Casetext competed on flat, lower pricing and a lighter research stack. Its Lexis+ AI assistant is now the head-to-head rival to CoCounsel.

1 product reviewed on TopReviewed

Harvey8.0/10

Harvey sells an AI legal assistant top-down to elite AmLaw 100 and global firms via bespoke deployments and custom models, and licenses rather than owns its case-law corpus. Casetext paired CoCounsel with its own research database and priced for small and mid-size firms.

1 product reviewed on TopReviewed

vLex7.9/10

vLex (merged with Fastcase) is the other independent primary-law publisher, pairing a multi-jurisdiction global corpus with the Vincent AI assistant — the closest like-for-like to Casetext's research-plus-assistant combination, but weighted toward international coverage rather than U.S. federal and state law.

1 product reviewed on TopReviewed

Legora7.9/10

Legora sells a collaborative AI workspace for lawyers built around review tables and drafting inside Microsoft Word, and grew from Europe into the U.S. It competes on the assistant layer only, licensing third-party legal content instead of running its own case-law database.

1 product reviewed on TopReviewed

Paxton AI7.6/10

Paxton AI targets the solo and small-firm end of the market Casetext originally served, with a citation-grounded research and drafting assistant sold at a low per-seat subscription and self-serve signup rather than an enterprise sales motion.

1 product reviewed on TopReviewed

Company Timeline

Key milestones in Casetext, Inc.'s history, with sources.

1. Feb 24, 2026Milestone

   CoCounsel passes 1 million users across 107 countries

   Thomson Reuters announced the milestone at a San Francisco event, three years after CoCounsel launched on March 1, 2023. The company said it invests more than $200M a year in productized AI and holds roughly $11B of capital capacity through 2028.

   lawnext.com
2. Aug 5, 2025Launch

   Thomson Reuters launches CoCounsel Legal with agentic AI and Deep Research

   The CoCounsel line moved from prompt-and-response assistance to agentic workflows that plan, reason and execute multi-step tasks. Deep Research is grounded in Westlaw content including Key Numbers and KeyCite; Westlaw Advantage followed on August 13, 2025.

   lawnext.com
3. Aug 17, 2023Acquisition

   Thomson Reuters completes the $650M acquisition of Casetext, Inc.

   The all-cash transaction closed roughly seven weeks after signing, folding Casetext and CoCounsel into Thomson Reuters legal business alongside Westlaw and Practical Law.

   thomsonreuters.com
4. Jun 26, 2023Acquisition

   Thomson Reuters agrees to acquire Casetext for $650M cash

   Thomson Reuters signed a definitive agreement to buy the 104-employee company, whose customers included more than 10,000 law firms and corporate legal departments. CEO Steve Hasker framed the deal as part of a build, partner and buy generative-AI strategy.

   thomsonreuters.com
5. Mar 1, 2023Launch

   CoCounsel launches as the first AI legal assistant built on OpenAI GPT-4

   CoCounsel handled document review, legal research memos, deposition preparation and contract analysis. Casetext, granted early access to GPT-4, ran a beta with roughly 150 firms including Fisher Phillips, Eversheds Sutherland and Orrick, reporting nearly 4,000 hours of fine-tuning across more than 30,000 legal questions.

   lawnext.com
6. Jan 17, 2022Funding

   Series C — $25M led by BuildGroup

   BuildGroup led, with Union Square Ventures, Canvas Ventures, Y Combinator and Touchdown Ventures participating; total raised reached $64.3M. CEO Jake Heller said the company was operating near profitability and raised to fund further AI investment.

   lawnext.com
7. Mar 26, 2020Funding

   $8.2M investment led by a top-grossing U.S. law firm

   An unnamed top revenue-generating U.S. law firm led the round alongside existing investors Union Square Ventures, Canvas Ventures and Y Combinator Continuity, pushing total funding past $40M. The capital was earmarked for Compose.

   lawnext.com
8. Feb 25, 2020Launch

   Compose launches, automating first drafts of litigation briefs

   Compose generated draft briefs for six procedural motion types from jurisdiction-specific argument outlines, and shipped with Parallel Search, a natural-language case-law search. Pricing started at $99 for a first brief for solos and small firms.

   lawnext.com
9. May 3, 2017Milestone

   CARA named New Product of the Year by the American Association of Law Libraries

   The AALL award went to CARA (Case Analysis Research Assistant), which reads an uploaded brief or memo and surfaces relevant cases it omits. It was the first product to apply AI to brief analysis in legal research.

   lawnext.com
10. Mar 22, 2017Funding

    Series B — $12M led by Canvas Ventures

    Canvas Ventures led, joined by Union Square Ventures, 8VC and Red Sea Ventures, taking total funding to $20.8M. Proceeds were directed at CARA, the brief-analysis assistant Casetext had commercialized in July 2016, plus sales and support.

    lawnext.com
11. Feb 10, 2015Funding

    Series A — $7M led by Union Square Ventures

    Union Square Ventures led the round, with former Thomson Reuters and Reuters Group CEO Tom Glocer among the investors. The financing brought total funding to $8.8M, including $1.8M of seed capital raised in October 2013.

    lawnext.com
12. Aug 12, 2013Founded

    Casetext launches out of Y Combinator as a crowdsourced case-law library

    Founded in 2013 by Jake Heller and Joanna Huey, Casetext opened free access to more than a million U.S. cases with Wikipedia-style user annotations. It positioned itself as a value-added alternative to the paid research services Westlaw and LexisNexis.

    techcrunch.com