Legora Raises $80M Series B at $675M Valuation

Legora, an AI legal assistant startup with offices in New York, London, and Stockholm, has raised $80 million in a Series B funding round led by ICONIQ and General Catalyst, valuing the company at $675 million. Founded two years ago by CEO Max Junestrand, Legora's platform helps lawyers with tasks such as researching, reviewing, and drafting legal documents, and currently serves 250 firms across 20 markets. The funding will be used to expand operations, accelerate product development, and deepen collaboration with clients, leveraging rapidly evolving AI technology to address the legal profession's needs. Despite not actively seeking funds, Legora attracted strong investor interest due to its rapid growth and product traction, with existing investors Redpoint Ventures, Benchmark, and Y Combinator participating in the round. The company competes in a growing legal tech sector predicted to expand significantly over the next decade and has differentiated itself by focusing on client-driven innovation and tailored software solutions. Its annual recurring revenue has surpassed $70 million, reflecting strong market adoption and positioning Legora as a leading player in the legal AI startup space.