Two years old. Three founders. A legal market with 80 million open lawsuits. That math now adds up to $1.2 billion.
Enter, the Brazilian legal AI company, just closed a new round at that valuation, after raising at $350 million only seven months ago.
Enter builds AI agents that handle mass litigation, the kind that fills up Brazil's court system every day. Its software reads each lawsuit, pulls in the case-specific data, and drafts a defense the legal team can file.
That use case is rare for legal AI, since most tools focus on contracts and research. Enter is built for the cases that get filed by the thousand against banks, retailers, and telecoms.
By the numbers:
Enter's first big round closed in September 2025 at $350 million, co-led by Founders Fund and Sequoia, and that deal marked Sequoia's first Brazil bet since it backed Nubank more than a decade ago.
The new round at $1.2 billion is roughly a 3.5x bump in seven months, and that kind of jump usually shows up because revenue is moving fast. Enter has been adding enterprise clients while expanding from labor disputes into broader civil litigation.
Enter is now in the same valuation neighborhood as a small group of legal AI winners, even though it is the only one focused on the Brazilian market. Harvey, the U.S. leader, was last valued at $11 billion in March, and Legora hit $5.5 billion that same month before adding Nvidia as an investor in April.
Founder Mateus Costa-Ribeiro has an unusual resume even by founder standards. He became Brazil's youngest practicing lawyer at 18, finished Harvard Law, passed the New York Bar at 20, and left a fully funded Stanford MBA seat to start the company.
Whether Enter's playbook scales outside Brazil, since mass-litigation AI has clear product-market fit at home. The next test is whether the same approach works in Mexico, Spain, or Portugal, where the court systems share Brazil's structural backlog. Investors are paying for that optionality at $1.2 billion, not just for what the company already runs in São Paulo.