Valuation · TechCrunch AI
Legal AI startup Legora hits $5.6B valuation and its battle with Harvey just got hotter
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Key facts
- Alongside Atlassian and other new financial investors, NVentures joined Legora’s cap table as part of a $50 million Series D extension that comes a month after the startup’s $550 million Series D
- In the interval, this Y Combinator alum crossed $100 million in annual recurring revenue (ARR) — a milestone that contributed to its new $5.6 billion post-money valuation
- This brings Legora’s valuation a tad closer to Harvey’s, which reached $11 billion last month when Sequoia tripled down on its investment
- When Anthropic launched a legal plug-in for Claude not long ago, several publicly listed legal software companies saw their stocks drop
Summary
Leveraging AI to help lawyers streamline their work, the Swedish-born legal tech startup is competing with U.S. player Harvey. Alongside Atlassian and other new financial investors, NVentures joined Legora’s cap table as part of a $50 million Series D extension that comes a month after the startup’s $550 million Series D. In the interval, this Y Combinator alum crossed $100 million in annual recurring revenue (ARR) — a milestone that contributed to its new $5.6 billion post-money valuation. This brings Legora’s valuation a tad closer to Harvey’s, which reached $11 billion last month when Sequoia tripled down on its investment. Legora, too, is backed by high-profile VCs, but it puts even more emphasis on the big names it secured as clients, such as Bird & Bird, Cleary Gottlieb, and Linklaters.