Legora is negotiating a fresh capital raise that could peg its value near $8.5 billion before new cash is added, according to people who asked not to be named because the negotiations are private. The target size is at least $300 million. Discussions are still active, so the numbers could shift. Legora declined to comment.
Legora provides AI-powered tools for law firms and for legal departments within corporations, reducing grunt work such as contract review and legal research. Its investor roster includes Iconiq, General Catalyst, Accel, and Nvidia Corp.'s NVentures. A key rival, Harvey, revealed new financing earlier this month that placed its valuation at $15.6 billion.
Five months ago, Legora secured $600 million in a Series D that set its valuation at $5.6 billion. On Tuesday, the CFO posted on X that annual recurring revenue has reached $200 million and has doubled in less than half a year. Founded in Sweden in 2023, the company has been leaning into US expansion; the CFO said the US is now Legora's largest market by revenue.
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If this round lands near $8.5 billion pre-money, it would be a swift step-up from the Series D mark, backed by $200 million in ARR and growing traction in the US. For anyone tracking AI's push into professional services, this is another signal that buyers are paying for workflow automation that saves time and cuts costs.
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