As 2021 winds down, it might go down as the year of the legal tech IPO. But as more legal tech companies debut on various stock exchanges, going public may prove too risky for some.

In 2021 various legal tech companies, including DISCO, LegalZoom and Intapp debuted on stock exchanges. Other legal tech and service providers also publicly announced their intention to go public, including contract management software platform Evisort and contract life cycle management (CLM) provider Ironclad.