Legal AI startup Legora raises $550M Series E at $8.8B valuation

In Brief

Legal AI startup Legora announced Wednesday that it raised a $550 cardinal Series E round, valuing it astatine $8.8 billion. 

The institution helps automate and assistance with workflow tasks for ineligible professionals, arsenic the manufacture moves beyond AI assistants to AI services that assistance them get enactment done.

The quality comes conscionable a period aft Harvey, Legora’s biggest competitor, announced a $550 cardinal rise astatine a $15.5 cardinal valuation; backmost successful March, Harvey besides said its yearly recurring gross (ARR) was much than $ 200 million. 

Legora’s Series E follows the company’s April announcement of a $50 cardinal hold of a $550 cardinal Series D round, which valued the institution astatine $5.6 billion. At the time, the institution said its ARR had reached $100 million. That fig present stands astatine implicit $200 million, the institution shared connected Wednesday. 

Investors successful the latest financing see Atreides Management, which led the round, arsenic good arsenic Baron Capital, Bessemer Venture Partners, General Catalyst, Menlo, and different apical names. The institution plans to usage the caller superior to further grow crossed North America.

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