Relativity Files Confidentially for US IPO

Relativity, a Chicago-based legal data company, confidentially filed for a US IPO on March 19, 2026.

The filing marks a significant moment for the legal technology sector, which has seen very few public listings and mixed results from those that have attempted it. Relativity's move tests whether public markets are ready to absorb a platform-scale legal tech company, and its outcome may shape the strategic decisions of other high-value private players in the space.

The Filing

Relativity submitted a draft registration statement to the US Securities and Exchange Commission (SEC) on March 19, 2026. A confidential filing allows companies to prepare for an IPO without immediate public scrutiny of their financial details.

The company has not yet set a share count or price range for the proposed listing. The IPO remains subject to the completion of the SEC review process and prevailing market conditions.

Relativity is backed by private equity firm Silver Lake and was valued at approximately $3.6 billion in March 2021, according to PitchBook data. The company has raised roughly $2.35 billion to date and completed a $920 million debt refinancing in January 2026.