Sweden-based legal AI startup Legora has been valued at $5.5bn after announcing a $550m Series D fundraise.
The round was led by Accel, with participation from existing investors Benchmark, Bessemer Venture Partners, General Catalyst, ICONIQ, Redpoint Ventures, and Y Combinator, as well as new investors, including Alkeon Capital, Bain Capital, Firstmark Capital, Menlo Ventures, Sands Capital, Starwood Capital and Salesforce Ventures.
The investment will be used to accelerate its expansion across the US.
Legora (formerly known as Leya) was founded in 2023 and has built an AI platform for lawyers.
In the last 12 months, the LegalTech startup has grown from 40 to 400 team members across Stockholm, London, New York, Denver, Sydney, and Bengaluru.
Deloitte partnership in UK
Last year, Deloitte Legal and Legora announced a strategic relationship in the UK that will see the two organisations collaborate to drive the next wave of legal transformation.
The latest funding round coincided with Legora’s first anniversary in the US and follows a series of major customer wins and partnerships, including White & Case, Cleary Gottlieb and Goodwin.
Commenting on the funding and US expansion, Max Junestrand, CEO and co-founder of Legora, said: “Over the past year, the pace of adoption in the US has exceeded our expectations, as leading firms and in-house teams move decisively from experimentation to embedding AI across their organisations.
“This funding enables us to accelerate our US growth – investing in talent and infrastructure, strengthening our presence in key markets, and ensuring we can support customers on the ground as they integrate AI into their core workflows.”
Less than a year after opening its first US office in New York, Legora is expanding its footprint with new offices in Houston and Chicago – two of the country’s most significant legal and commercial hubs – alongside its existing presence in New York and Denver.
The company expects to open additional local hubs and grow to more than 300 employees across its US offices by the end of 2026.
Arun Mathew, partner at Accel, said: “Max and team are relentlessly focused on building the AI operating system for the legal industry.
“As in other service industries, work is quickly shifting to end-to-end workflows run by agents, and more of that work is happening on Legora. We’re excited to partner with Legora as they enter this next stage of growth.”
Legora is a collaborative AI platform for legal work, supporting lawyers in research, review, and drafting across complex matters.