From The Next Web · Ana-Maria Stanciuc · · 1m 30s
Swedish legal AI firm Legora raises $550M at $8.8B
Legora has raised $550 million in Series E funding led by Atreides Management, valuing the Swedish legal AI startup at $8.8 billion.
In brief
Legora has raised $550 million in Series E funding led by Atreides Management, valuing the Swedish legal AI startup at $8.8 billion. Swedish legal AI startup Legora raised five hundred fifty million dollars in Series E funding at an eight point eight billion dollar valuation, with plans to expand globally. Originally…
Legora raises $550M in Series E
Swedish legal AI startup Legora has raised five hundred fifty million dollars in Series E funding led by US investment firm Atreides Management, bringing its valuation to eight point eight billion dollars.
New and existing investors join round
Five new investors joined the round: Baron Capital, Capital Group, Fidelity Management and Research Company, Glade Brook Capital Partners, and J.P. Morgan. Existing backers Accel, Benchmark, General Catalyst, ICONIQ, and Salesforce Ventures also invested.
Legora's revenue growth accelerates
Legora's annual recurring revenue has passed two hundred million dollars. The company grew from one million to one hundred million dollars in less than eighteen months, then added another one hundred million in less than…
“Growth only counts if the business underneath it holds up.”
Legora expands customer base globally
More than one hundred forty thousand legal professionals across over two thousand four hundred law firms and in-house legal teams use Legora's software in more than eighty markets.
Legora competes with Harvey in legal AI
Legora's funding comes six weeks after US rival Harvey raised five hundred fifty million dollars at a fifteen point five billion dollar valuation.
The takeaway
Swedish legal AI startup Legora raised five hundred fifty million dollars in Series E funding at an eight point eight billion dollar valuation, with plans to expand globally.
