Legal AI startup Legora raises $550 million in Series D at a $5.55 billion valuation to expand in the U.S.
The Facts
- Legora raised $550 million in a Series D funding round.
- The Series D round valued Legora at $5.55 billion.
- Legora said the funding will be used to accelerate expansion across the United States.
- Accel led the Series D funding round.
- Existing investors including Benchmark, Bessemer Venture Partners, General Catalyst, ICONIQ, Redpoint Ventures and Y Combinator participated in the round.
- New investors in the round included Alkeon Capital, Bain Capital, Firstmark Capital, Menlo Ventures, Salesforce Ventures, Sands Capital and Starwood Capital.
- CEO Max Junestrand said adoption in the U.S. has exceeded expectations as firms and in-house teams move from experimentation to embedding AI across their organizations.
Context
What is Legora and what does it provide to legal teams?
Legora is a Sweden/Stockholm-based legal AI company that offers an AI platform intended to help lawyers with tasks such as researching, reviewing and drafting legal documents Sifted,Silicon Republic.
Who backed Legora’s Series D round?
The round was led by Accel, with participation from existing investors including Benchmark, Bessemer Venture Partners, General Catalyst, ICONIQ, Redpoint Ventures and Y Combinator, and new investors including Alkeon Capital, Bain Capital, Firstmark Capital, Menlo Ventures, Salesforce Ventures, Sands Capital and Starwood Capital CNBC,Investing.com.
What did Legora say the new funding will be used for?
Legora said it will use the proceeds to accelerate its expansion across the United States, citing faster-than-expected adoption in the U.S. market Reuters,Investing.com.
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