In March 2017, Casetext raised $12 million in a new funding round. Led by Canvas Ventures with participation from Union Square Ventures, 8VC, and Red Sea Ventures, the round will allow Casetext to "expand its software platform that offers insights into cases cited in legal documents and to further develop an AI-powered assistant for lawyers." 

This is not Casetext's first round of funding -- the company raised $7 million in a 2015 funding round led by Union Square Ventures.