Legora, which sells AI software for lawyers, said on Oct. 21 that it raised a $550 million Series E round at an $8.8 billion post-money valuation, TechCrunch reported.
Atreides Management led the round.
New investors include Baron Capital, Capital Group, Fidelity Management & Research Company, Glade Brook Capital Partners and J.P. Morgan, according to Legora’s announcement. The company said every major existing investor also took part, including Accel, Benchmark, Bessemer Venture Partners, General Catalyst and Menlo Ventures, among others.
The valuation is up from $5.6 billion at Legora’s previous round. TechCrunch reported that in April, Legora announced a $50 million extension of a $550 million Series D. Quartz, citing Bloomberg, put that Series D at $600 million in total.
The revenue
Legora says its annual recurring revenue, or ARR, now stands at more than $200 million. That’s double the $100 million it reported in April, according to TechCrunch.
The company says it went from $1 million to $100 million in ARR in less than 18 months, and the next $100 million took less than six months. Legora claims that first stretch was faster than any other enterprise software company selling through a direct sales team. That comparison is the company’s own.
Its customer mix is changing.
In-house legal teams, a small fraction of customers a year ago, made up more than 40% of new customers in the third quarter, Legora said. In the U.S., now its largest market by revenue, more than half of the AmLaw 50, the country’s 50 highest-grossing law firms, are customers. Legora opened its first U.S. office only in spring 2025.
The product and the rival
Legora calls its product an “agentic operating system for legal professionals,” branded Legora aOS. TechCrunch described the broader shift as the legal industry moving from AI assistants to AI services that get work done. Legora’s own announcement says legal teams are moving toward agents that carry out multi-step work.
The money will go toward expansion in North America, Europe and Asia-Pacific and toward new aOS features, the company says. Quartz reported the planned products include agentic intake, horizon scanning and legal research. In North America, Legora has offices in New York, Denver, Chicago, Houston, San Francisco, Toronto and Mexico City.
“The opportunity in legal is enormous and we are still early,” Max Junestrand, Legora’s CEO and co-founder, said in the announcement. “AI is changing the role of the lawyer, with more time for judgment and advice.”
Legora’s raise came a month after Harvey, its biggest competitor, announced a $550 million round at a $15.5 billion valuation, TechCrunch noted. Harvey said in March that its ARR was more than $200 million, putting the two companies at similar reported revenue but with Harvey valued at nearly twice as much.
Harvey has also been buying companies. In September it acquired Guardrails AI, which builds tools that flag when an AI agent strays from its intended behavior, and called it its fourth acquisition of 2026.
Junestrand said Legora picked investors with a long time horizon. “We chose investors who share our long-term view and know what it takes to build a lasting company,” he said.
Source: TechCrunch, “Legal AI startup Legora raises $550M Series E at $8.8B valuation”
Additional sources: Legora, “Legora raises $550 million Series E at $8.8 billion valuation to accelerate growth”; Quartz, Cris Tolomia, “Swedish legal AI startup Legora raised $550 million at $8.8 billion valuation”
