Steno is a technology company.
Steno has raised $25.0M across 2 funding rounds.
Steno has raised $25.0M in total across 2 funding rounds.
Steno has raised $25.0M in total across 2 funding rounds.
Steno's investors include Andreessen Horowitz, Blisce, Intel Capital, Left Lane Capital, XFactor Ventures, Trust Ventures.
Steno is a technology-enabled legal services company that provides court reporting, remote depositions, litigation support, and AI-powered tools to streamline legal processes for law firms.[1][2][3] It serves plaintiff and defense firms, in-house legal teams, and court reporters by solving pain points like high upfront costs, scheduling complexities, and transcript analysis through innovations such as DelayPay (deferred payment financing), Steno Connect (a Zoom-native videoconferencing platform with exhibit sharing), and Transcript Genius (an AI tool for customizable summaries and deposition insights).[1][3][4] With $120.28M raised across Series C stages, including a $20M round six months ago, Steno demonstrates strong growth momentum, reporting $25.4M in revenue and operating from Los Angeles with nationwide coverage like Dallas.[1][3][6]
Steno was founded in 2018 by Dan Anderson (trial attorney), Dylan Ruga (software engineer), and Greg Hong (experienced entrepreneur who previously built and sold a company to Resy, now owned by American Express).[1][2][4] The idea emerged from frustration with the stagnant court reporting industry, which lacked innovation in service delivery and financing; the founders recognized an opportunity to use technology to make depositions more accessible without upfront payment barriers.[2][3][4] Early traction came from developing DelayPay and Steno Connect, enabling quick booking and remote proceedings, which addressed essential litigation needs and attracted investors like The LegalTech Fund, Craft Ventures, and Left Lane Capital.[1][4]
Steno stands out in the outdated court reporting sector through tech integration and client-centric innovations:
Steno rides the LegalTech wave transforming antiquated legal processes with AI, remote tools, and fintech, accelerated by pandemic-driven virtual hearings and rising litigation demands.[1][4] Timing is ideal amid industry stagnation—court reporting hasn't evolved in decades—allowing Steno to capture market share through accessible financing and tech that empowers more depositions and cases, enhancing access to justice.[3][4] Favorable forces include growing law firm tech adoption, AI advancements in transcript analysis (competing with tools like Cloud Court), and investor interest in vertical SaaS for legal services.[1][4] By simplifying workflows, Steno influences the ecosystem, enabling smaller firms to compete and pushing incumbents toward innovation.
Steno is poised for expansion with its Series C momentum, likely scaling AI features like Transcript Genius, geographic reach, and service bundles to dominate litigation support.[1][3] Trends like AI-driven legal analytics, hybrid in-person/remote proceedings, and deferred financing will fuel growth, especially as caseloads rise post-economic shifts. Its influence may evolve by setting new standards for LegalTech accessibility, potentially acquiring competitors or launching enterprise tools, solidifying its role as the go-to for tech-savvy litigators. This positions Steno to turn court reporting from a cost center into a strategic advantage, much like its founders envisioned.
Steno has raised $25.0M across 2 funding rounds. Most recently, it raised $15.0M Series B in May 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 1, 2023 | $15.0M Series B | Andreessen Horowitz, Blisce, Intel Capital, Left Lane Capital, XFactor Ventures | |
| Sep 1, 2021 | $10.0M Series A | Trust Ventures |