Legal AI startup Legora raises $550 mln at $5.55 bln Valuation

Legora, an artificial intelligence (AI) platform designed for legal professionals, has raised $550 million in a Series D funding round, valuing the company at $5.55 billion as it seeks to accelerate its expansion across the United States.

According to Legora, the round was led by Accel and included participation from existing investors such as Benchmark, Bessemer Venture Partners, General Catalyst, ICONIQ, Redpoint Ventures and Y Combinator. New investors in the round include Alkeon Capital, Bain Capital, Firstmark Capital, Menlo Ventures, Sands Capital, Starwood Capital and Salesforce Ventures.

The funding comes as the company marks its first anniversary operating in the United States, a market it describes as central to its future growth. Over the past year the company has secured partnerships with several law firms, including White & Case, Cleary Gottlieb and Goodwin.

The company said it plans to establish additional hubs across the US and expects its United States workforce to exceed 300 employees by the end of 2026. Over the past year the company’s workforce has expanded from 40 to around 400 employees across offices in Stockholm, London, New York City, Denver, Sydney and Bengaluru. According to the company, its platform is used by tens of thousands of lawyers each day across more than 800 law firms and corporate legal teams in over 50 markets.