Swedish AI startup Legora to raise $100M+ funding at $1.7B valuation

Legora, the Swedish startup building AI tools for lawyers, is closing in on a major funding round that could more than double its valuation in just a few months. The company is reportedly in advanced talks to raise over $100 million in fresh capital at a valuation of around $1.7 billion, with Bessemer Venture Partners leading the deal, according to Bloomberg.

The latest funding, if finalized, would more than double Legora’s valuation from the $675 million it secured in May, underscoring the surge of investor interest in AI software for professional services.

“Legora, a Swedish artificial intelligence startup that works with law firms, is in discussions to raise more than $100 million in financing that would value the company at around $1.7 billion,” Bloomberg reported, citing people familiar with the talks.

Founded in 2023 by Max Junestrand and Sigge Labor out of the Stockholm School of Economics’ Business Lab incubator, Legora has built a platform that automates tedious legal work without cutting lawyers out of the loop.

Its system blends AI with human review, offering tools like “Tabular Review” to organize documents in interactive grids, “Reason Together” for multilingual case attachments with cited responses, “Draft Smarter” integrations with Microsoft Word, and “Research Deeper” access across legal databases. The idea is simple: lawyers focus on judgment, the machine handles the paperwork.

Legora Set to Join Unicorn Ranks With $100M Raise

That pitch is clearly resonating. The company has added more than 400 customers across 20 markets, a 75% jump in just six months. Its roster already includes big names such as Dentons, CMS, Deloitte Legal, Goodwin, Pérez-Llorca, Mannheimer Swartling, and Bird & Bird. Participation in Y Combinator’s 2024 batch gave the company another push, positioning it as one of Europe’s most closely watched legal AI players.

This momentum builds on Legora’s $80 million Series B earlier this year, co-led by ICONIQ and General Catalyst, which brought total funding to about $120 million. That money was earmarked for product development and client expansion, but the speed at which Legora is scaling means more capital is already on the table.

Bloomberg’s report pegs the new financing at $100 million, though chatter on X suggests the figure could stretch as high as $150 million at a valuation closer to $1.8 billion. Neither Legora nor Bessemer has commented on the negotiations.

The round comes amid a surge of investment in legal AI startups. European firms in the sector have already pulled in more than €500 million this year, up from €418 million in 2024. Rivals like Hebbia, Harvey AI, and Luminance are also raising significant capital, as investors bet that AI will strip the drudgery out of contract reviews, research, and filings.

For Legora, the raise would cement its position as one of Europe’s breakout unicorns. With momentum on its side, the question now is how quickly the company can turn its legal AI toolkit into a standard for law firms and corporate legal teams racing to keep up with automation.

Legora Team