AI
Legora lifts its legal AI round to $550m at an $8.8bn valuation
Legora raised a $550 million Series E led by Atreides Management, with Baron Capital, Bessemer Venture Partners, General Catalyst and Menlo participating, at an $8.8 billion valuation. The legal AI company said annual recurring revenue has passed $200 million, double the $100 million it reported in April when it raised at $5.6 billion. Legora is positioning beyond assistants towards services that complete legal work, and the round lands a month after larger rival Harvey raised $550 million at $15.5 billion. The company plans to spend the capital expanding across North America.