Legal AI startup Legora announced on Wednesday that it has successfully raised $550 million in a Series E funding round, bringing its valuation to $8.8 billion. The company focuses on automating and assisting with workflow tasks for legal professionals, marking a shift in the industry from basic AI assistants to more comprehensive AI services that enhance productivity.
Recent Developments
This funding news comes just a month after Harvey, Legora’s main competitor, raised $550 million at a valuation of $15.5 billion. In March, Harvey reported an annual recurring revenue (ARR) exceeding $200 million. Legora's Series E follows its earlier announcement in April regarding a $50 million extension of a $550 million Series D round, which had previously valued the company at $5.6 billion. At that time, Legora disclosed that its ARR had reached $100 million.
