Steno Raises $49M to Expand Legal Tech

Steno, a Los Angeles-based court reporting and litigation support company, raised $49 million in Series C funding to expand into new markets and upgrade its AI-powered transcript tool, Transcript Genius.

This funding round signals growing investor confidence in companies that combine hands-on legal services with technology, a model that pure software firms and legacy court reporting providers have struggled to replicate.

The Funding Round

Savano Capital Partners led the round, with continued participation from First Round Capital, The Legal Tech Fund, and other strategic investors. Rothschild and Co served as financial advisor, while Cooley LLP acted as legal counsel to Steno in the transaction.

The $49 million raise brings fresh capital to a company that already serves thousands of law firms every month. Steno plans to use the funds to triple its investments in geographic expansion and product development.

Growth Plans

Steno will direct a significant portion of this capital toward entering new markets across the United States. A key goal is to increase its presence within the AmLaw 200, a group of the 200 highest-grossing law firms in the country.

The company also plans to scale Steno Connect, its remote litigation platform, and build on its court reporter career marketplace, which it describes as the first modern platform of its kind for legal professionals.

Transcript Genius Upgrade

Transcript Genius, Steno's AI-powered transcript analysis tool, sits at the center of its product roadmap. The platform helps attorneys search, review, and work with deposition transcripts more efficiently, reducing time spent on manual review.

Greg Hong, CEO of Steno, explained what sets the company apart from software-only competitors. "Because we operate as both a world-class services provider and a tech company, we have a unique advantage: we live inside litigation workflows every day. That hybrid position allows us to build AI capabilities that software-only companies simply cannot replicate."

The next version of Transcript Genius, funded by this raise, is expected to go beyond transcript review. Prabhdeep Singh, COO of Steno, outlined the broader vision: "We're finding new ways for lawyers to work with testimony and case data. Our goal is to expand beyond simple automation, providing a unified platform where data-informed AI and expert litigation support work together to solve the complex challenges law firms face daily."

Investor Perspective

Savano Capital Partners, the lead investor, cited Steno's dual identity as a services business and a technology company as the primary reason for backing the round.

Max Swicegood, Principal at Savano Capital Partners, noted that most litigation vendors force firms to pick between legacy service providers or standalone software. He said Steno is doing both well, adding that its "concierge experience" combined with tools built on real litigation data makes it difficult for competitors to copy.

Swicegood will join Steno's board as part of the investment. His firm's involvement adds a strategic partner with a direct stake in Steno's growth alongside long-standing backers First Round Capital and The Legal Tech Fund.

The participation of returning investors alongside a new lead signals that existing stakeholders continue to see strong value in Steno's trajectory since its earlier funding rounds. 

About Steno

Steno is a court reporting and legal technology company based in Los Angeles, California. The company provides litigation support services, including court reporting, remote depositions through Steno Connect, and AI-powered transcript analysis through Transcript Genius. Steno also operates a marketplace for court reporting professionals to manage their careers. The company serves thousands of law firms each month and works with attorneys across the United States.