The Swedish legaltech company is completing a Series E led by Atreides Management, six months after its Series D, to accelerate in North America, Europe and Asia-Pacific.
Legora, a Stockholm-based start-up that designs AI tools for drafting and proofreading legal documents, announced on October 21 a $550 million Series E. Its valuation after the deal reached $8.8 billion, compared to about $5.6 billion in April's Series D, in which Nvidia (via NVentures) and Atlassian participated. The round is led by Atreides Management, with the addition of Baron Capital, Capital Research, Fidelity and Glade Brook Capital Partners.
Growth explains the appetite of investors: the company says it has grown from $1 million to $100 million in annual recurring revenue in 18 months, and then to more than $200 million in less than six more months. The funds will be used for expansion in North America, where Legora already has offices in seven cities, as well as in Europe and Asia-Pacific, and its Legora aOS agent operating system. Its CFO insists on strong margins and retention rather than just the speed of growth.
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