Key facts
- AI legal tech firm Legora is reportedly seeking a $10 billion valuation in a new funding round.
- This valuation would nearly double the $5.6 billion raised in April.
- The company is in early-stage discussions with investors.
- Legora previously secured $866 million in April from investors including Nvidia and Atlassian.
- Legora partners with law firms like Kirkland & Ellis to develop custom AI platforms.
Legora, an AI legal tech firm, is reportedly aiming for a $10 billion valuation in its next funding round, a significant increase from its $5.6 billion valuation in April. The company, based in Stockholm, is in the early stages of discussions with investors to secure this new capital. Legora develops AI tools for legal professionals and corporate in-house teams to assist with document drafting and review.
In its previous D series round in April, Legora raised $866 million, with notable backing from Nvidia's venture arm, NVentures, and Atlassian, alongside contributions from Barclays, Airtree, Insight Partners, and Liberty Global. The potential $10 billion valuation could involve a combination of new capital and the sale of existing shares, according to reports.
Analysts suggest that Legora's move signals strong investor interest in European AI startups. Navina Rajan, a senior analyst at PitchBook, noted that AI companies constitute a substantial portion of Europe's potential IPO pipeline, with Legora itself having a high predicted probability of an IPO. Rajan emphasized that such high valuations require sustained growth and a clear path to public market maturity.
Legora is also actively forming partnerships within the legal sector. The firm is collaborating with law firms to help them develop their own AI platforms, in addition to offering its tools commercially. Notably, Kirkland & Ellis, one of the world's largest law firms by revenue, is partnering with Legora to build a custom AI platform, investing hundreds of millions over the next few years.