Legora Raises $550M and Aims for North American Expansion

Legora now reports an ARR exceeding $200 million, following the $100 million announced in April. The legal AI startup has closed a $550 million Series E round, bringing its valuation to $8.8 billion, with Atreides Management as the lead investor. In the face of Harvey, which raised the same amount and claimed an ARR of over $200 million in March, Legora aims to accelerate its growth in North America.

Legora's ARR surpasses $200M after $100M announced in April

Legora announced on Wednesday that its annual recurring revenue now exceeds $200 million. In April, the company had reported reaching $100 million in ARR. This growth follows a $50 million extension of a $550 million Series D round announced in April, which previously valued the company at $5.6 billion.

A $550M Series E values Legora at $8.8B

The company raised $550 million in a Series E round, bringing its valuation to $8.8 billion. Atreides Management led this round, joined by Baron Capital, Bessemer Venture Partners, General Catalyst, Menlo, and other investors.

In the face of Harvey, Legora focuses on North America

A month earlier, Harvey, Legora's main competitor, announced a $550 million funding round for a valuation of $15.5 billion and indicated in March an ARR exceeding $200 million. Legora plans to use this additional funding to strengthen its position in the North American market. Its solution aims to automate and support tasks related to the workflows of legal professionals, in a context where the sector is transitioning from AI assistants to services that provide effective assistance in completing tasks.