Max Junestrand. Image: Legora
The company said it has a current annual recurring revenue of more than $200m.
Swedish AI legal-tech start-up Legora has reached an $8.8bn post-money valuation following a $550m Series E funding round led by Atreides Management.
The round featured participation from new investors – including Baron Capital, Capital Research, Fidelity Management & Research Company and Glade Brook Capital Partners – as well as “every major existing investor”, according to Legora.
Founded as Leya in 2023, Legora offers an agentic AI platform – launched two years ago – supporting legal professionals with research, review and document drafting.
The new funding will be used, the company said, to “deepen investment” in ‘Legora aOS’ – the agentic operating system that lawyers and their agents can work in – in order to help create new product offerings.
The capital will also 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 in Europe and the Asia-Pacific region.
“The opportunity in legal is enormous and we are still early,” said Max Junestrand, CEO and co-f founder of Legora.
“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.”
In March, the company announced a Series D raise of $550m, at a valuation of $5.55bn. It said it has a current annual recurring revenue of more than $200m.
“Legal is a sophisticated market with demanding buyers, and the bar for software is high,” said Gavin Baker, managing partner and CIO at Atreides. “Legora has built a sustainable business along the way, with the discipline to scale fast and stay efficient.”
According to the company, it employs more than 1,000 people across 18 sites, while its platform is used by “140,000 legal professionals at more than 2,400 leading law firms and in-house legal teams across more than 80 markets”.
Company CFO David Eckstein said that Legora is aiming for “healthy gross margins, high retention and a cost structure that gets stronger as we scale” to sustain the growing business.
In April, Legora acquired AI legal research start-up Qura for an undisclosed amount. In June, it announced plans to grow its combined EMEA headcount to 700 and open new offices in Madrid, Milan and Paris.
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