Legora in talks to raise at a $10bn valuation, according to reports

Swedish AI legal startup Legora is reportedly in discussions with investors to raise funding at a valuation of at least $10 billion, nearly double its previous valuation of $5.6 billion following its Series D round in March. The potential new valuation was reported by the Financial Times. Legora is currently in the early stages of these talks and the deal may involve secondary shares as well as new capital, according to sources familiar with the matter.

Established in 2023, Legora provides a collaborative AI platform built upon large language models (LLMs) to assist lawyers with their routine tasks such as legal research, document review or drafting. In the past 18 months, the company has expanded from 40 employees to 700, with offices located in Stockholm, London, New York, Denver, Sydney and Bengaluru.

Currently, Legora's platform is utilized by over 1500 enterprise customers across more than 50 markets, including well-known firms like Bird & Bird, Cleary Gottlieb, White & Case, Linklaters, Deloitte, Dentons and Goodwin. This year, Legora has been actively pursuing acquisitions as part of its expansion strategy. The company's CEO, Max Junestrand, is set to address attendees at Sifted Summit in London.

Mimi Billing, Sifted's Europe editor based in Stockholm, covers the Nordic region and can be reached on X and LinkedIn.