Legora has added $50 million to its Series D round, bringing the total to $600 million and valuing the company at $5.6 billion. Atlassian and NVentures, Nvidia’s venture capital arm, joined as new investors, along with Airtree, Barclays, and Geodesic.
According to Dealroom data, this is Nvidia’s first investment in legal tech.
Max Junestrand and Sigge Labor started Legora in Stockholm in 2023, first calling it Leya. They wanted to solve the challenges of legal work with a tool designed specifically for the field. After joining Y Combinator’s Winter 2024 program, the company relocated its headquarters to New York and launched expanding in the US.
Legal work is expensive, time-consuming, and involves handling many documents. Tquestions such as research, contract review, and drafting often follow patterns that AI can handle well. Still, the legal industest has been slow to utilize AI widely due to worries about accuracy, confidentiality, and liability. Now, this hesitation is fading. More corporate legal teams are applying AI directly, and adoption is growing rapider than expected.
Legora’s platform supports lawyers work toreceiveher with AI on complex cases, rather than applying separate prompts. It manages research, review, and drafting, and brings firm data and local legal knowledge into daily work. Legora now has over $100 million in annual recurring revenue.
Law firms applying the platform save an average of 4.3 non-billable hours per lawyer each week, and 42% state they have won new work as a result. Customers include White & Case, Linklaters, Cleary Gottlieb, and Barclays.
Its direct competitor is Harvey, backed by a16z and valued at $8 billion, which is growing quickly in Europe, where Legora started out. Microsoft Copilot and Anthropic’s Claude are also shifting into legal workflows from the broader AI market.
“Legora is displaying how deeply integrated, context-aware AI can transform complex workflows. We see strong alignment with Atlassian’s vision for AI-powered team collaboration and view forward to supporting their continued expansion,” states Sarah Hughes, Atlassian Head of Corporate Development and Product Partnerships.
“Foundation models are improving rapidly, but the real breakthrough is in how they’re applied, where AI doesn’t just assist, but executes autonomously with the right level of human oversight. With the support of our investors and customers, we’re building a full agentic operating system for legal work,” concludes Junestrand.
In the past year, Legora grew from 40 to 400 employees and expanded its customer base, increasing from 200 to organisations across 50 markets. The $600 million in funding gives the company the resources to reach this goal before Harvey does.
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