Swedish legal AI startup Legora has raised $550 million in a Series E round led by U.S. investment firm Atreides Management, raising its valuation to $8.8 billion. The company says its annual recurring revenue has passed $200 million, and it plans to expand across North America, Europe and Asia-Pacific.
How much did Legora raise in its Series E round?
Swedish legal AI startup Legora has raised $550 million in a Series E funding round, lifting its valuation to $8.8 billion. U.S. investment firm Atreides Management led the round, which also drew several new and existing backers.
Who invested in Legora's latest funding round?
Five new investors joined: Baron Capital, Capital Group, Fidelity Management & Research Company, Glade Brook Capital Partners and J.P. Morgan. Existing backers Accel, Benchmark, General Catalyst, ICONIQ and Salesforce Ventures also put money into the round.
What is Legora's legal AI platform used for?
Legora plans to use the funding to expand across North America, Europe and Asia-Pacific while developing its legal AI platform, Legora aOS. The tools help legal teams research case law, track changes in legislation and handle incoming requests through AI agents.
The company says its annual recurring revenue has now passed $200 million. Legora says it took less than 18 months to grow from $1 million to $100 million in revenue, then less than six months to add another $100 million.
More than 140,000 legal professionals at over 2,400 law firms and in-house legal teams now use the software in more than 80 markets. In-house legal departments accounted for over 40% of new customers in the third quarter, a shift that points to growing demand beyond traditional law firms.
The United States has become Legora’s largest market by revenue. The company said more than half of the AmLaw 50, a ranking of the 50 highest-grossing law firms in the U.S., are now customers. Legora opened its first U.S. office in spring 2025.
Founded in 2023, Legora launched its platform in October 2024. It now has more than 1,000 employees across 18 offices, seven of them in North America.
“The opportunity in legal is enormous and we are still early,” said co-founder and CEO Max Junestrand. “AI is changing the role of the lawyer, with more time for judgment and advice, and it is reshaping how law firms and in-house legal teams are organized and how their work gets done.”
CFO David Eckstein said the company is focused on making sure its rapid expansion is supported by a sustainable business. Atreides managing partner Gavin Baker also praised Legora’s ability to grow while building a business designed to last.
“Growth only counts if the business underneath it holds up,” Eckstein said. “We have passed $200 million in ARR, and we want every dollar of it to be a durable one. That means healthy gross margins, high retention, and a cost structure that gets stronger as we scale. This round lets us keep building that way.”
The funding comes just six weeks after U.S. rival Harvey raised $550 million at a $15.5 billion valuation, according to Legal Business. Both companies are competing to bring AI tools into law firms and corporate legal departments, as investors continue to back software designed to automate parts of legal work.
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