STOCKHOLM / LONDON (IT BOLTWISE) – Swedish company Legora AB recently closed a $150 million funding round, bringing its valuation to $1.8 billion. This investment will be used to accelerate product development and drive global expansion. Legora offers innovative AI solutions for the legal industry that help lawyers with research and document review.
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Stockholm-based Legora AB recently completed an impressive funding round, raising $150 million. This investment, led by Bessemer Venture Partners, raises the company’s valuation to $1.8 billion. Other investors include well-known names such as ICONIQ, General Catalyst, Redpoint Ventures, Benchmark and Y Combinator. This funding round follows a previous round in May in which Legora had already raised $80 million, and brings the total capital raised to $226 million.
Legora plans to use the new funding to accelerate its product development and expand its global presence. The company offers an AI-powered solution that helps lawyers with research and document review. Legora’s technology makes it possible to efficiently analyze large volumes of documents and quickly extract relevant information. A special feature is the integration into Microsoft Word, which enables seamless collaboration within the word processing environment.
The market for legaltech AI is growing rapidly, which is also reflected in recent investments in this area. In addition to Legora, Harvey also recently raised $150 million at a valuation of $8 billion. These developments show that investors have great confidence in the future of AI-powered legal advice. According to industry reports, legaltech companies have raised over $2.4 billion in venture capital as of the end of September, underscoring the strong interest in AI technologies.
Max Junestrand, co-founder of Legora, highlights the increasing demand for AI solutions in the legal industry. Since its last funding round in May, Legora has expanded its customer base from 250 to over 400 and is now active in twice as many markets. With offices in Stockholm, London, New York and Sydney, the company is well positioned to meet growing demand and further develop its technology.
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