Legora set to triple valuation to $6bn with latest funding, reports say | Sifted
Legal tech startup Legora is reportedly seeking funding that would triple its valuation to $6bn just four months after its last funding round.Summary
Legal tech startup Legora is in discussions to secure new funding that would increase its valuation to $6 billion, according to reports from Bloomberg. This potential valuation represents a tripling of its worth since its last funding round just four months prior. While the exact amount of capital Legora is seeking remains unclear, the round is anticipated to be led by a current investor.
Founded in 2023, Legora provides an AI-powered platform for lawyers, utilizing large language models (LLMs) to assist with tasks like legal research, document review, and drafting. The company has already raised $80 million in a Series B round in May and $150 million in October, achieving valuations of $675 million and $1.8 billion respectively.
This fundraising occurs shortly after Anthropic launched a new AI legal tool, which initially caused a downturn in legal software stocks. However, Legora’s VP of communications, Jesper Wigardt, stated that the company is not concerned by Anthropic’s offering, emphasizing the difference between a “plug-in” and a “full, robust legal AI platform,” as Legora provides.
(Source：Sifted Eu)
