Legal data company Relativity confidentially files for US IPO

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March 19, 2026 8:37 AM EDT

The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst

March 19 (Reuters) - Legal ‌data company ​Relativity ​has confidentially filed for a U.S. initial public offering, the company said ‌on Thursday, against the backdrop of investor caution ⁠for new listings.

The Chicago-based company said it had ‌not yet determined the number ‌of shares or the price range for the proposed listing.

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

The company, which was founded in 2001 ​by Andrew Sieja, initially built ‌tools to manage digital evidence for litigation before expanding into broader legal ⁠data analytics.

Its flagship cloud product RelativityOne uses machine learning to prioritize relevant documents, reducing time and ⁠costs in complex legal processes.

Relativity's move to tap the public ​markets comes at a delicate moment, as U.S. IPO activity is already bruised by a software sector selloff ‌and facing additional pressure as Middle East tensions weigh on broader markets.

Confidential ‌filings with the U.S. securities regulator let ⁠companies prepare for IPOs ‌away from public ​market scrutiny.

(Reporting by Prakhar Srivastava in Bengaluru; Editing by Sriraj Kalluvila and Shailesh ‌Kuber)


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