CS Disco Business Summary

CS Disco, Inc. (LAW) operates a dual-revenue business model centered on a cloud-native, AI-powered legal technology platform, generating income through a combination of recurring software subscriptions and usage-based transaction fees. The company’s primary business is divided into two segments: Software, which includes its core DISCO Ediscovery, DISCO Hold, and DISCO Request products alongside the generative AI-driven Cecilia platform; and Services, which provides managed document review and professional consulting. As of early 2026, the firm is aggressively transitioning toward an "agentic AI" framework to automate fact investigation and document review, targeting adjusted EBITDA breakeven by Q4 2026. CS Disco competes directly with legacy and cloud-native eDiscovery providers such as Relativity, Everlaw, and Reveal, while increasingly defending its market share against high-valuation, AI-native startups like Harvey and Legora. Within this landscape, CS Disco positions itself as a scaled, enterprise-grade incumbent that bridges traditional eDiscovery workflows with advanced large language model (LLM) integration. Founded in 2012 by Kiwi Camara, Kent Radford, and Gabriel Krambs, the company is currently led by Chief Executive Officer Eric Friedrichsen, who took the helm in April 2024 following a successful tenure as CEO of Emburse. The leadership team was further strengthened in January 2026 with the appointment of Aaron Barfoot as Chief Financial Officer, bringing over two decades of SaaS and AI finance experience from Socure and Rackspace. Product and engineering efforts are directed by Richard Crum, the Chief Product, Technology and Strategy Officer, who previously managed global product strategy at Emburse. The company’s strategic direction is overseen by a board chaired by Scott Hill, former CFO of Intercontinental Exchange, and includes prominent directors such as Tom Bogan, former Vice Chair of Workday. CS Disco remains backed by high-profile institutional investors, with Bessemer Venture Partners maintaining a significant 44% stake, alongside major positions held by LiveOak Venture Partners, Deer Management Co., and The Stephens Group.