Legora raises $550 million at an $8.8 billion valuation

Atreides Management led the Series E, according to Legora.[1] The company named Baron Capital, Capital Group, Fidelity Management & Research Company, Glade Brook Capital Partners and J.P. Morgan as new investors.[1] Legora also said every major existing investor participated in the round.[1] The company said the capital will support continued expansion in North America, Europe and Asia-Pacific, as well as further investment in its agentic operating system and bringing new products to market.[1] The company linked the funding to regional expansion and product investment.[1]

Legora said it grew from $1 million to $100 million in annual recurring revenue in less than 18 months.[1] It described that pace as faster than any other enterprise software company selling through a direct sales team.[1] The company said it added the next $100 million in less than six months and that its ARR now exceeds $200 million.[1] Legora said it wants healthy gross margins, high retention and a cost structure that gets stronger as it scales.[1] For professionals assessing the business, the growth figures provide a scale signal, but they do not by themselves establish the economics of serving each customer.

Legora said in-house legal teams made up more than 40% of its new customers in the third quarter, compared with only a small fraction of its customer base a year earlier.[1] The company said the United States is its largest market by revenue and that more than half of the AmLaw 50 are customers.[1] Legora also reported that more than 140,000 legal professionals use its platform at over 2,400 law firms and in-house legal teams across more than 80 markets.[1] The customer figures indicate that the company is selling to both law firms and internal legal departments, rather than to law firms alone.[1]

Legora described the new valuation as an increase from $5.6 billion at its previous round.[1] Reuters reported that the company’s Series D raised $550 million at a $5.55 billion valuation.[2] Legora describes its product as AI for lawyers to review and research faster, draft smarter and advise with precision.[1] Founded in 2023, the company launched its platform in October 2024 and says it has more than 1,000 employees across 18 offices.[1] Legora cited $5.6 billion at its previous round, while Reuters reported a $5.55 billion Series D valuation.[1][2]