Legora announced a $550 million Series E on 21 October at an $8.8 billion post-money valuation, up from $5.6 billion at its March funding round, Legal Technology reported. The Swedish legal AI company plans to use the capital to expand in North America and other markets and invest further in its software for law firms and in-house teams.
Key points
- Atreides Management led the Series E, with new and existing investors participating.
- Legora says annual recurring revenue has passed $200 million.
- The company says the US is its largest market by revenue and more than half of the AmLaw 50 are customers.
- The March round also raised $550 million, at a $5.6 billion valuation.
Atreides leads Legora’s Series E
Atreides Management led the round, with Baron Capital, Capital Group, Fidelity Management & Research Company, Glade Brook Capital Partners and J.P. Morgan joining as new investors, The Next Web reported. Existing backers Accel, Benchmark, General Catalyst, ICONIQ and Salesforce Ventures also took part.
Legora raised the same $550 million amount in March, according to Legal Technology. Its October valuation is higher than the $5.6 billion figure the publication reported for that earlier round. Both figures put a price on a company that launched its platform in October 2024, following its founding in 2023.
Legora says the new capital will support expansion across North America, Europe and Asia-Pacific. It also plans further investment in Legora aOS, its platform for legal work. The company describes products under development for handling incoming requests, monitoring changes in legislation and conducting legal research through AI agents.
Max Junestrand, Legora’s co-founder and chief executive, said the company chose investors with a long-term view of its business. Atreides managing partner Gavin Baker said law firms and in-house teams were adopting the platform and expanding its use within their organisations. Those assessments came from the company and the investor backing the round.
Legora reports more than $200 million in ARR
Legora says annual recurring revenue has passed $200 million. It says revenue rose from $1 million to $100 million in less than 18 months, then added another $100 million in less than six months. The figures give investors a measure of the sales growth accompanying the higher valuation.
David Eckstein, Legora’s chief financial officer, said the company wants its revenue growth to be supported by healthy gross margins, customer retention and a cost structure that improves as it scales. He described the aim as making every dollar of recurring revenue durable, rather than treating growth alone as the measure of the business.
Legora says more than 140,000 legal professionals use its software across more than 2,400 law firms and in-house legal teams in over 80 markets. In-house legal departments accounted for more than 40% of new customers in the third quarter, according to the company. That customer mix places corporate legal teams alongside law firms in Legora’s expansion plans.
US becomes Legora’s largest revenue market
Legora says the US is now its largest market by revenue. More than half of the AmLaw 50 — a ranking of the 50 highest-grossing US law firms — are customers, the company says. Legora opened its first US office in spring 2025 and now has seven offices in North America.
US rival Harvey raised $550 million at a $15.5 billion valuation six weeks before Legora’s October round, The Next Web reported. The two companies sell AI tools for legal work to law firms and corporate legal departments. Harvey also plans a Japan office for early 2027 after a Legalscape data deal, AI Affairs reported.
Legora says it has more than 1,000 employees across 18 offices. Its North American locations are New York, Denver, Chicago, Houston, San Francisco, Toronto and Mexico City.
