Legora lands $550M Series E at $8.8B valuation — SkimNews
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- Legora raised a $550M Series E at an $8.8B valuation, with Atreides Management leading and participation from Baron Capital, Bessemer Venture Partners, General Catalyst, and Menlo.
- Legora's annual recurring revenue more than doubled from $100M at its April Series D to over $200M as of Wednesday's announcement.
- Harvey, Legora's biggest competitor, raised the same $550M figure roughly one month earlier at a $15.5B valuation and reported ARR above $200M in March.
- Legora's Series E follows a $50M extension of a $550M Series D in April that valued the company at $5.6B, meaning the valuation has climbed roughly 57% in about five months.
- The company builds AI tools to automate workflow tasks for legal professionals and will deploy the new capital to expand across North America.
Why it matters: Legora's valuation climbed from $5.6B to $8.8B in roughly five months while its ARR doubled to over $200M, narrowing the gap with rival Harvey, which is valued at $15.5B. Two back-to-back $550M mega-rounds from the sector's two leading players underscore how much investor appetite is concentrating in legal AI.
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