Legora Raises $550 Million at $8.8 Billion Valuation

Legora has raised a $550 million Series E at an $8.8 billion post-money valuation, the legal AI company said. Atreides Management led the round, with new investors including Baron Capital, Capital Group, Fidelity, Glade Brook Capital Partners and J.P. Morgan. Existing investors including Accel, Benchmark, Bessemer Venture Partners and General Catalyst also took part.

The valuation compares with $5.6 billion at Legora's previous round. The company says annual recurring revenue now stands at more than $200 million, after it went from $1 million to $100 million in less than 18 months and added the next $100 million in less than six.

In-house legal teams made up more than 40% of new customers in the third quarter, and more than half of the AmLaw 50 are customers in the US, now Legora's largest market by revenue. The funding will support expansion in North America, Europe and Asia-Pacific and further work on Legora aOS, its agentic operating system for lawyers, including agentic intake, horizon scanning and legal research.

Founded in 2023, Legora has more than 1,000 employees across 18 offices and is used by more than 140,000 legal professionals.