Legal AI Startup Legora Hits $5.6B Valuation, Intensifies Rivalry with Harvey
Nvidia's NVentures has made its inaugural investment in legal AI by backing Legora, a Swedish legal technology startup, as part of a $50 million extension to its Series D funding, which originally raised $550 million. Atlassian is among the other investors. A Y Combinator graduate, Legora has exceeded $100 million in annual recurring revenue, boasting a post-money valuation of $5.6 billion. In the competitive landscape, it rivals Harvey, which is valued at $11 billion following an investment from Sequoia. Legora caters to clients such as Bird & Bird and Linklaters, with its platform utilized by over 1,000 law firms worldwide. Both companies are expanding, with Legora targeting the U.S. and Harvey focusing on Europe, while facing competition from AI firms like Anthropic, which recently introduced a legal plugin for Claude.
Key facts
- NVentures, Nvidia's corporate VC fund, invested in Legora, its first legal AI investment.
- Legora raised a $50 million Series D extension, following a $550 million Series D.
- Legora crossed $100 million in annual recurring revenue (ARR).
- Legora's post-money valuation is $5.6 billion.
- Harvey's valuation reached $11 billion last month.
- Legora's clients include Bird & Bird, Cleary Gottlieb, and Linklaters.
- Legora's platform is used by over 1,000 law firms across 50 markets.
- Harvey claims 100,000 lawyers across 1,300 organizations, including Hengeler Mueller, Latham & Watkins, T-Mobile, and Bridgewater.
Entities
Institutions
- Nvidia
- NVentures
- Legora
- Harvey
- Atlassian
- Y Combinator
- Sequoia
- Andreessen Horowitz
- Coatue
- Conviction Partners
- Elad Gil
- Matt Miller's Evantic
- Kleiner Perkins
- Bird & Bird
- Cleary Gottlieb
- Linklaters
- Hengeler Mueller
- Latham & Watkins
- T-Mobile
- Bridgewater
- Anthropic
- OpenAI
Locations
- Sweden
- United States
- Europe