Legora Targets $6 Billion Valuation as Law Firms Rush to AI

Legora, provider of an artificial intelligence (AI) platform for lawyers, is in talks on a funding round that would boost its valuation to $6 billion, Bloomberg reported Friday (Feb. 13), citing unnamed sources.

The amount the company is raising is not known, and the round has not been finalized, according to the report.

Reached by PYMNTS, Legora declined to comment on the report.

The company’s collaborative AI platform helps lawyers review, research, draft and advise, according to its website. It serves more than 600 law firms and in-house legal teams in over 50 markets. Those figures are up from the 400 law firms in 40 markets it served in October, and the 250 firms in 20 markets it served in May.

Legora was valued at $1.8 billion in an October Series C funding round in which it raised $150 million.

“Legal professionals across the globe are adopting AI into their work at an unprecedented rate, and I could not be more proud of supporting our customers on this journey,” Legora CEO and Co-founder Max Junestrand said at the time in a press release.

Sameer Dholakia, partner at Bessemer Venture Partners, which led the Series C funding round, said in the release that Legora has built “not just another legal tech tool, but a collaborative AI platform that elevates the practice of law itself.”

Junestrand acknowledged AI startup Anthropic’s Jan. 30 launch of a legal plugin in a post on LinkedIn, saying that he had received messages asking about the plugin’s potential impact.

“There is an important difference between a plugin and operating a collaborative, matter-centric, production-grade platform used by hundreds of the world’s leading legal teams,” Junestrand wrote in the post.

“Legora incorporates a full suite of legal work capabilities: structured review processes for thousands of documents, generating edits in bulk, seamless deep integrations with tools such as Outlook, Word, iManage, NetDocs, Sharepoint and Mobile, agentic workflows to orchestrate multi-step tasks, and citation-based legal research — all within a secure, enterprise-grade platform built for collaboration internally, and externally,” Junestrand wrote.

Legora announced Tuesday (Feb. 10) that it integrated directly with the knowledge work platform iManage so that customers can securely connect their Legora workflows with their content stored in iManage.