Legal tech firm Legora has raised $550m (£410m) in Series E funding at an $8.8bn valuation as it expands its footprint in the US, Europe, and the Asia-Pacific region.
The Stockholm-based startup, which creates AI tools for law and professional services firms and corporate in-house legal teams to draft and review documents, said on Wednesday the funding comes at an $8.8bn post-money valuation.
The firm said the funding will “support continued expansion in North America, where Legora has offices in New York, Denver, Chicago, Houston, San Francisco, Toronto and Mexico City, as well as in its markets across Europe and Asia-Pacific.”
“The opportunity in legal is enormous and we are still early. AI is changing the role of the lawyer, with more time for judgement and advice, and it is reshaping how law firms and in-house legal teams are organised and how their work gets done,” Legora chief executive and co-founder, Max Junestrand, said.
“We intend to lead that shift in the US and globally. We chose investors who share our long-term view and know what it takes to build a lasting company. They are the right partners for the years ahead,” Junestrand said.
The tech company said the funding round will also allow it to invest more heavily in its agentic operating system, Legora aOS.
This follows the tech firm reporting in August that it was eyeing a new funding round as it looked to hit a valuation of $10bn, nearly double the $5.6bn it raised just four months earlier in April.
Legora secured backing from Nvidia in its D series round in April, with the tech giant’s venture arm NVentures and Atlassian joining as new corporate investors.
Atreides Management led the E series funding announced on Wednesday, with new investors including Baron Capital, Capital Research, Fidelity Management & Research Company, and Glade Brook Capital Partners.
From $1m to $100m annual recurring revenue
In just 18 months, Legora grew from $1m to $100m in annual recurring revenue (ARR), and the next $100m took less than six months, bringing ARR to more than $200m. Speaking to City AM in December, Junestrand said the firm would ramp up its headcount in 2026, with an “aggressive” hiring plan for London.
“Growth only counts if the business underneath it holds up. We have passed $200m in ARR, and we want every dollar of it to be a durable one. That means healthy gross margins, high retention, and a cost structure that gets stronger as we scale. This round lets us keep building that way,” said David Eckstein, chief financial officer at Legora, said.