Legal AI startup Legora raises $550 million at an $8.8 billion valuation
The Swedish company says annual recurring revenue now tops $200 million. Its biggest rival, Harvey, raised the same amount at a much higher valuation just weeks ago.
By Robert Harrison ·
For information only, not investment advice.
Legora, the Swedish legal AI startup, said Wednesday it raised a $550 million Series E at an $8.8 billion post-money valuation, up from $5.6 billion at its previous round.
Atreides Management led the round. New investors include Baron Capital, Capital Group, Fidelity, Glade Brook Capital Partners and J.P. Morgan, and existing backers including Accel, Benchmark, Bessemer Venture Partners, General Catalyst, ICONIQ and Salesforce Ventures are also in, the company says. It plans to use the money to expand in North America, Europe and Asia-Pacific, and to invest more in its Legora aOS platform.
The growth numbers are the company's own. Legora says annual recurring revenue went from $1 million to $100 million in under 18 months, and that the next $100 million took less than six months, putting it above $200 million now. It also says more than half of the AmLaw 50 law firms are customers, and that the US is now its largest market by revenue. Founded in 2023, it launched its platform in October 2024.
The comparison everyone will make: TechCrunch reported that Harvey, Legora's biggest competitor, announced a $550 million raise at a $15.5 billion valuation just a month earlier. Same check, very different price tag. CEO Max Junestrand's take in the release: "The opportunity in legal is enormous and we are still early."
Sources
Tags: funding-round · valuation · ai · unicorns · venture-capital · europe