Legora, the Swedish legal AI startup, raised $550 million in a Series E round at an $8.8 billion post-money valuation, the company said on Wednesday.
Atreides Management led the round. New investors include Baron Capital, Capital Group, Fidelity Management & Research Company, Glade Brook Capital Partners and J.P. Morgan. Existing investors including Accel, Benchmark, Bessemer Venture Partners, General Catalyst, Iconiq, Insight Venture Partners, Menlo Ventures, Redpoint Ventures, Salesforce $CRM Ventures and Sands Capital are participating.
The valuation compares with $5.6 billion at Legora's previous round. That Series D raised $600 million, according to Bloomberg.
Legora said its annual recurring revenue exceeds $200 million. The company went from $1 million to $100 million in annual recurring revenue in less than 18 months, and the next $100 million took less than six months.
The company said the capital will fund expansion in North America, Europe and Asia-Pacific. It also will go toward Legora aOS, the software system in which lawyers and their AI agents work. New products planned for the system include agentic intake, horizon scanning and legal research.
In North America, Legora has offices in New York, Denver, Chicago, Houston, San Francisco, Toronto and Mexico City. The U.S. is its largest market by revenue, and more than half of the AmLaw 50 are customers. Legora established its American foothold in spring 2025, when it set up a first office in the country.
In-house legal teams were the source of more than 40% of the customers Legora signed during the third quarter. The company said they were a small fraction of its customer base a year earlier.
Legora was founded in 2023 and brought its product to market in October 2024. It employs upward of 1,000 people, spread over 18 office locations. Upward of 140,000 legal professionals rely on its software, working for more than 2,400 law firms and corporate legal departments in over 80 markets.
"The opportunity in legal is enormous and we are still early," Max Junestrand, Legora's CEO and co-founder, said in a statement. "We intend to lead that shift in the U.S. and globally."
Gavin Baker, managing partner and CIO at Atreides, said in a statement that Legora "has become the platform that law firms and in-house legal teams adopt and then expand across their organizations." He said the company has grown with "the discipline to scale fast and stay efficient."
David Eckstein, Legora's CFO, said in a statement that the company wants its recurring revenue to be durable. "That means healthy gross margins, high retention, and a cost structure that gets stronger as we scale," Eckstein said.