Legal AI startup Legora hits $5.6B valuation and its battle with Harvey just got hotter
Swedish legal AI startup Legora has reached a $5.6 billion valuation following a $50 million Series D extension, backed by Nvidia's NVentures and other investors. The funding strengthens Legora's position in its growing rivalry with U.S.-based Harvey, which holds an $11 billion valuation and a significant customer base. Both companies are expanding globally and investing in marketing campaigns featuring high-profile actors to capture market share in the competitive legal tech space.
- ▪Legora secured a $50 million Series D extension, contributing to a $5.6 billion post-money valuation.
- ▪NVentures, Nvidia's corporate VC fund, participated in Legora's funding round, marking its first legal AI investment.
- ▪Legora's platform is used by over 1,000 law firms and legal teams across 50 markets, including clients like Bird & Bird and Linklaters.
- ▪Harvey claims 100,000 lawyers across 1,300 organizations as customers, including firms like Latham & Watkins and companies like T-Mobile.
- ▪Legora launched a marketing campaign featuring Jude Law, while Harvey partnered with actor Gabriel Macht to boost brand visibility.
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Nvidia has laid a new brick in its AI empire. NVentures, its corporate VC fund, has backed Legora, reportedly its first legal AI investment. 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 just a tad closer to Harvey’s, which reached $11 billion last month when Sequoia tripled down on its investment.
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