Legora raises $550M at $8.8B valuation

Stockholm-based legal AI startup Legora has raised $550 million in a Series E round led by Atreides Management, valuing the company at $8.8 billion. Participation came from Baron Capital, Fidelity, J.P. Morgan, and existing backers including Benchmark, Bessemer, and General Catalyst. Total funding now stands at $866 million. Legora grew annual recurring revenue from $1 million to $200 million in under two years. Founded in 2023, the company now serves more than 140,000 legal professionals across 2,400 firms in 80 markets, with in-house legal teams representing 40% of new customers in Q3.