Steno has raised $49.0 million in a recent funding round, securing significant capital to advance its mission in the legal technology sector. The company specializes in providing court reporting services, integrating best-in-class technology with flexible deferred payment options. Steno was founded by a team of tech and legal experts who identified a need for a more efficient and accessible experience in court reporting, aiming to remove financial and technical hurdles for legal professionals.
This substantial investment underscores investor confidence in Steno's innovative approach to modernizing litigation support. Among its signature offerings is Steno Connect, a remote litigation platform designed to set new industry standards with state-of-the-art videoconferencing and seamless exhibit handling tailored for legal needs. Additionally, Steno's DelayPay program empowers clients to conduct depositions without upfront payment, offering non-recourse deferred payment options in select markets, thereby revolutionizing access to essential legal services.
The newly secured capital will be strategically deployed to accelerate Steno's growth initiatives. The company plans to invest in further developing its proprietary technology, expanding its service offerings, and entering new geographic markets to serve a broader client base. This funding is expected to bolster Steno's capacity to deliver bespoke solutions for large-scale litigation, further enhancing its value proposition to attorneys.
Having grown from a team of 9 employees to over 400 in just six years, Steno has demonstrated rapid expansion and a strong market presence. This funding round positions Steno for continued growth, enabling it to further innovate and solidify its role in transforming the court reporting industry through technology and client-centric financial solutions. The company aims to maintain its trajectory of innovation and expansion, continuing to provide reliable and advanced services to the legal community.
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