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Legora raises $550 million at $8.8 billion valuation
Atreides Management led the legal AI startup’s Series E, with the proceeds intended to support further expansion across North America.
Legal AI startup Legora said on October 21 that it had raised $550 million in Series E financing at a valuation of $8.8 billion. The company plans to put the funding toward further expansion across North America.
Atreides Management led the financing. Other participants included Baron Capital, Bessemer Venture Partners, General Catalyst and Menlo. Legora provides tools that automate and assist legal professionals with workflow tasks.
Legora also said its annual recurring revenue now exceeds $200 million. It had reported reaching $100 million in April, when it announced a $50 million extension to its $550 million Series D financing. That round valued the startup at $5.6 billion.
The financing follows a raise announced a month earlier by Harvey, Legora’s largest competitor. Harvey raised $550 million at a valuation of $15.5 billion. In March, Harvey said its annual recurring revenue exceeded $200 million.