Swedish legal AI startup Legora has raised $550 million in a Series E funding round, bringing its valuation to $8.8 billion. US investment firm Atreides Management led the round, with several new and existing investors participating.
Five new investors joined the round: Baron Capital, Capital Group, Fidelity Management & Research Company, Glade Brook Capital Partners, and J.P. Morgan. Existing backers, including Accel, Benchmark, General Catalyst, ICONIQ, and Salesforce Ventures, also invested.
Legora plans to use the money to expand across North America, Europe, and Asia-Pacific, while continuing to develop its legal AI platform, Legora aOS. Its tools help legal teams research, track changes in legislation, and handle incoming requests through AI agents.
The company says its annual recurring revenue (ARR) has now passed $200 million. Legora says it took less than 18 months to grow from $1 million to $100 million in revenue, then less than six months to add another $100 million.
More than 140,000 legal professionals across over 2,400 law firms and in-house legal teams now use its software in more than 80 markets. In-house legal departments accounted for over 40% of new customers in the third quarter.
The US has become Legora’s largest market by revenue. The company said more than half of the AmLaw 50, a ranking of the 50 highest-grossing law firms in the US, are now customers. Legora opened its first US office in spring 2025.
Founded in 2023, Legora launched its platform in October 2024. It now has more than 1,000 employees across 18 offices, seven of them in North America.
“The opportunity in legal is enormous and we are still early. AI is changing the role of the lawyer, with more time for judgment and advice, and it is reshaping how law firms and in-house legal teams are organized and how their work gets done,” said co-founder and CEO Max Junestrand.
CFO David Eckstein said the company was focused on making sure its rapid expansion was supported by a sustainable business. Atreides managing partner Gavin Baker also praised Legora’s ability to grow while building a business designed to last.
“Growth only counts if the business underneath it holds up. We have passed $200 million 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, CFO at Legora.
The funding comes just six weeks after US rival Harvey raised $550 million at a $15.5 billion valuation, according to Legal Business.
Both companies are competing to bring AI tools into law firms and corporate legal departments, as investors continue to back software designed to automate parts of legal work.