Legal collab firm Legora raises $US550 million

Legora, a collaborative AI platform for lawyers, has raised $US550 million (A$778m) in a Series D funding round led by Accel and a variety of other investors, giving Legora a valuation of $US5.55 billion.

The US is a core market for the company, and it has inked deals with law firms including White & Case, Cleary Gottlieb and Goodwin.

The funding round coincides with Legora’s first anniversary in the United States and follows a series of customer wins and partnerships in the region, including White & Case, Cleary Gottlieb and Goodwin, underscoring the U.S. as a "core growth market" for the company.

Legora opened its first American office a year ago in New York, and has since added offices in Houston and Chicago; it also has a presence in Denver. Legora currently has 300 US-based staff and expects to open more US offices this year.

Globally over the past year, Legora has grown from 40 to 400 team members across Stockholm, London, New York, Denver, Sydney, and Bengaluru and earlier this week appointed Jessica Turner as its lead for New Zealand.

“Over the past year, the pace of adoption in the U.S. has exceeded our expectations, as leading firms and in-house teams move decisively from experimentation to embedding AI across their organisations,” said Legora chief executive and co-founder, Max Junestrand.

“This funding enables us to accelerate our U.S. 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.”

Legora claims that its platform supports tens of thousands of lawyers across 800 customers in more than 50 markets.