Legal AI startup Legora raises $550M Series E at $8.8B valuation

Legal AI startup Legora has announced the successful completion of a $550 million Series E funding round, which has brought the company's valuation to an impressive $8.8 billion. Legora's technology aims to streamline and support various workflow tasks for legal professionals, as the industry transitions from AI assistants to AI-driven solutions that enhance productivity.

The news of Legora's funding comes a month after its rival, Harvey, announced a similar $550 million raise at a $15.5 billion valuation. In March, Harvey disclosed an annual recurring revenue (ARR) of over $200 million.

Legora's Series E funding comes on the heels of a $50 million extension of its April 2022 Series D round, which valued the company at $5.6 billion at the time. The company's ARR has since surpassed $200 million, up from $100 million in April. Notable investors in the latest financing include Atreides Management, which led the round, alongside Baron Capital, Bessemer Venture Partners, General Catalyst, and Menlo, among others.

With the fresh capital secured, Legora plans to expand its operations across North America, further solidifying its position as a leader in the legal AI space.