Legal AI Company Legora Raises $550 Million at $8.8 Billion Valuation

Legora, a startup building artificial intelligence tools for the legal industry, said on Wednesday, October 21, that it has closed a $550 million Series E round, putting its valuation at $8.8 billion. The company helps lawyers automate and support everyday workflow tasks. The deal reflects investor appetite for a sector where AI is shifting from simple assistants toward services that help get the work done.

Investors and plans

The round was led by investment firm Atreides Management. Baron Capital, Bessemer Venture Partners, General Catalyst, Menlo and other investors also took part. Legora intends to use the new capital to expand further across North America.

Rapid growth

The Series E follows an announcement in April of a $50 million extension to a $550 million Series D round, which valued the company at $5.6 billion. At that time, Legora said its annual recurring revenue (ARR) had reached $100 million. On Wednesday it reported that the figure now exceeds $200 million.

Competition

A month earlier, Legora's largest competitor, Harvey, announced its own $550 million raise at a $15.5 billion valuation. In March, Harvey had said its annual recurring revenue was above $200 million.