Legora raises $550M at $8.8B as legal AI becomes a two-horse race with Harvey
What's the deal? Stockholm-founded Legora, which builds an agentic operating system for lawyers, has raised a $550 million Series E at an $8.8 billion post-money valuation. Atreides ManagementDealroom has a profile for this one. Try Dealroom → led the round. That is up from $5.6 billion at its Series D in April, roughly six months ago.
Who's in? New investors include Baron CapitalDealroom has a profile for this one. Try Dealroom →, Capital GroupDealroom has a profile for this one. Try Dealroom →, Fidelity Management & Research, Glade Brook Capital Partners and J.P. Morgan. Legora says every major existing investor also took part, including Accel, Benchmark, Bessemer Venture Partners, General Catalyst, ICONIQ, Insight, Menlo Ventures, Redpoint, Salesforce Ventures and Sands Capital.
The numbers behind it: Legora says it went from $1 million to $100 million in annual recurring revenue in under 18 months, and added the next $100 million in less than six months. ARR is now above $200 million. The company has more than 1,000 employees across 18 offices, and its software is used by over 140,000 legal professionals at more than 2,400 law firms and in-house teams in over 80 markets. The US is now its largest market by revenue: more than half of the AmLaw 50 are customers, even though Legora opened its first US office only in spring 2025.
Below the summer talk: The $8.8 billion lands below the $10 billion-plus valuation the Financial Times reported in August that Legora was discussing with investors.
The bigger picture: Legal has become one of the clearest vertical-AI markets, and it is turning into a two-horse race. US rival Harvey raised $550 million in September at a $15.5 billion valuation. Both are now pushing from AI assistants towards agents that carry out multi-step legal work. "Growth only counts if the business underneath it holds up," said Legora CFO David Eckstein, pointing to gross margins and retention.
What's next? The money funds expansion in North America, where Legora has offices from New York to Mexico City, as well as in Europe and Asia-Pacific, plus new products for its platform such as agentic intake, horizon scanning and legal research.
Image credit: Legora
