Legal AI productivity platform Legora has raised $150m at a $1.8 billion valuation, just months after bagging $80m in May. They’ve brought in over $265m in VC money so far as the platform war with Harvey heats up.
The news of their Series C round comes just as Forbes magazine in the US is reporting a rumoured new raise by arch rival Harvey for also $150m, at an $8 billion valuation – coming just a few months after earlier major raises that valued them at $5 billion. Up to this point AL estimates their total funding to be around $800m, so if this new info is correct then Harvey is edging steadily toward $1 billion in total funding – which is incredible when you compare that to the funding picture for legal AI startups just a few years ago where getting to about $50m total cash was seen as a major landmark. (Note: Forbes is a solid publication, but….after a quick chat with Harvey there is basically no comment at this time, as one would expect, and AL would also suggest that you take the new raise information with a pinch of salt. Early info from the VC community is not always spot on.)
Either way, it’s clear that the backers of Legora and those of Harvey are in something of a funding race with the goal of seeing their champion take as much market share as possible – and as quickly as possible.
Both Harvey and Legora, along with many other leading legal AI players, will be taking part in Legal Innovators UK – in London next week, November 4, 5 and 6.
Legora’s funding was led by Bessemer Venture Partners, with significant investment from existing investors ICONIQ, General Catalyst, Redpoint Ventures, Benchmark, and Y Combinator, they said.
They added that since May 2025, Legora’s customer base has grown from 250 to over 400, while the number of markets served has doubled from 20 to more than 40. Customers include: Linklaters, Cleary Gottlieb, Goodwin, and MinterEllison.
Total revenue at Legora is not known and there have been multiple estimations over the last 12 months, ranging from quite low to around $40m at the higher end. But, we’ll have to wait and see what they officially announce to have a real understanding. By way of example, Harvey stated in August that its ARR was $100m, and no doubt will be higher by this year’s end.
P.S. if we take the higher number, 40, and then divide it into 1,800, we get a revenue multiple of 45. When Harvey said they had $100m ARR in August they had a $5bn valuation, so a multiple of 50. Just wait a few years until these companies are clocking revenues several times larger than today. At that point their valuations could be at a level that ‘Big Tech’ starts to pay serious attention.
Max Junestrand, CEO and co-founder of Legora, commented: ‘We are seeing astronomical demand for our product. 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. I’m grateful for the strong backing of our investors, which enables us to execute on our vision: enabling the lawyer of the future and seamless collaboration between machine and human intelligence.’
Congrats to Max and team!
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Legal Innovators Conferences in London and New York – November ’25
If you’d like to stay ahead of the legal AI curve then come along to Legal Innovators New York, Nov 19 + 20 and also, Legal Innovators UK – Nov 4 + 5 + 6, where the brightest minds will be sharing their insights on where we are now and where we are heading.
Legal Innovators UK arrives first, with: Law Firm Day on Nov 4th, then Inhouse Day, on the 5th, and then our new Litigation Day on the 6th.
Both events, as always, are organised by the Cosmonauts team!
Please get in contact with them if you’d like to take part.
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