Legora has just announced its long-awaited new raise and it’s a big one: $550m – classed as a Series E, and with a post-money valuation of $8.8 billion. They have now raised around $1.4 billion in total, compared to Harvey’s approximately $1.8 billion total.
CEO, Max Junestrand, stressed that both he and the investors are taking a long-term view of Legora and of legal AI’s growing place in the market. And if this is going to be a very long journey before any kind of exit, one can only imagine how large the future rounds and valuations will be. (And see next AL article for interview with Max.)
Below is a chart and table – made with ChatGPT Astra, and each entry has a source – which shows the funding race between these two legal AI platforms that just a few years ago didn’t even exist. It’s an extraordinary phenomenon.
—
So, lots of money, a fierce battle between the two, both with massive growth and huge future growth plans – and both navigating a market space that’s changed even since they started. The launch of Google, ChatGPT and Anthropic into the legal tech vertical, and with Microsoft rolling out a suite of legal AI skills – plus several other ‘Big Tech’ players moving into this space, have changed the environment forever as well.
In short, two incredible trajectories blazing a trail through a market that is also undergoing major changes. All in all, legal tech has never seen anything quite like this before. And there is little sign it’s about to stop.
Will there be some bumps? Probably, especially if we see an ‘AI crash’ because of massive debt finance issues caused by a surge in new data centres. But, these two pioneers will just keep going. The legal market is not about to stop absorbing genAI – in fact, this $1 trillion market is going to rapidly expand its use of AI globally.
Now, some may get into the finer financial aspects of comparing Harvey and Legora – but for AL, the only thing that matters is that the major investors believe in legal AI and these companies are funded to the point where they can contribute to a global change in how the means of legal production takes place.
After all, that’s what this is all about. Let’s not forget what we’re all here for.
It’s wonderful how successful both companies have been. But, for AL – and no doubt many readers – the best part of this is how much this momentum promises real change across the sector, as it inspires and catalyses everyone around them.
Now, as AL has explored many times – moving the dial will not be easy – even with billions $$$ and wide adoption taking place. But, we are on the way!
Congrats to Max and team.
More about Legora here.
–
Legal Innovators UK Conference – London – Nov 4 + 5 – Express Tickets
Legal Innovators UK, on November 4 and 5 in London at the Minster Building, is right around the corner and Express Registration is now open so you can zoom straight to your tickets.
Day One will focus on law firms, and Day Two is for the inhouse world. Both days will also very much be about our great speakers exploring the cutting edge of legal technology; where we have got to with AI; and how all of this changes how you run your firm, practice group, or inhouse legal team.
To pick up your tickets, please follow the link below. Complimentary passes are for those working inside law firms and within corporate legal teams.
And there are many reasons to attend, from networking with literally hundreds of your peers, to hearing from those at the cutting edge of legal innovation – both at major law firms and corporates – to of course seeing all the latest capabilities that the leading legal tech companies have developed. See you there!
—
Data sources:
Sources
[1] TechCrunch — Harvey seed funding
[2] Harvey — Series A announcement
[3] Business Insider — Harvey’s reported $150m valuation
[4] M&A Insights — Leya’s reported early valuations
[5] Harvey — Series B announcement
[6] Swedish Tech News — Leya’s early and YC funding
[7] Artificial Lawyer — Leya’s $10.5m seed round
[8] Legal IT Insider — Leya’s $25m Series A
[9] Reuters — Harvey’s $100m Series C
[10] Cooley — Harvey’s Series D
[11] Legora — Series B announcement
[12] Harvey — Series E announcement
[13] EQT — €50m investment in Harvey
[14] Legora — Series C announcement
[15] Harvey — December 2025 funding
[16] Legora — Series D announcement
[17] Harvey — March 2026 funding
[18] Legora — Series D extension
[19] Harvey — September 2026 funding
[20] Harvey — Ontario Teachers’ investment and extension
[21] Artificial Lawyer — Legora’s $550m Series E at $8.8bn
Discover more from Artificial Lawyer
Subscribe to get the latest posts sent to your email.