Legal AI Startup Legora Lands $ 80 Million at A $ 675 Million Valuation – ryan

General Catalyst and Iconiq Growth Are Co-Leading an $ 80 Million Funding Round Into Legora, a startup that makes software to help-down Lawyers Speed ​​up Legal Research and Drafting.

The New Funding for the New York, London, and Stockholm-Based Legora Will The Company at $ 675 Million, Following Last Year’s $ 35 Million Series A. Existting Investors Redpoint Ventures, Benchmark, and Y Combinator Increated Their Stakes in This Series B Round.

In an exclusive interview with Business Insider, Legora CEO Max Junestrand Said the Company was Actively Seeking Funding, But Still, The Offers Flooded in. “I don’t think it a Secret that things have ben really working,” Junestrand Said.

When Pierrepont Heard Whispers of Legora’s Fundraise, he Boarded a Flight to Stockholm. The Iconiq Investor Had Done Doses of Calls With Law Firms About The Tools Changing their Attorneys Work. The Legora Name Kept Coming Up.

“What they are looking for is a partner,” Pierrepont Said, “someone that they know will be budilded by they are and will respond to the Questions they have. And I think is the gap that legora has stepped into.”

Junestrand declined to provides Revenue or Growth Figures, but Said the Company’s Revenue Growth is “Extremely Positive.” IT HAS 250 Clients in 20 Markets, Including Big-League Law Firms Like Cleary Gottlieb, Goodwin, Bird & Bird, and Mannheimer Swartling, Sweden’s Larest Law Firm.

Legora Builds Chatbots and Agents – Software that can perform Basic task on their Own – For Things like Redlining A Contract, Draffing, or Filing in a Checklist for A Transaction. In recent months, it”s added a microsoft word add-in and other features that are farms Law firms Demand.

Legora’s Closest analog is Legal-Tech Heavyweight Harvey. The Company Works Closely With Major Law Firms to Craft Custom Software, Offering the Agility of a Startup with the Tailored Approach of a High -nd Consulting Firm. ITS Annual Recurring Revenue Surpassed $ 70 Million in April, Acciting to A Spokesperson.

Legora’s Funding is the latest in a string of high-profession Legal-tech investments, Following Companies Like Harvey and Supio. General Catalyst, in Particular, Has Been Building A Strong Portfolio of Startups Reshaping the Delivery of Legal Services. In February, IT LED A $ 105 Million Initial Round for Eudia, A Platform Designed for Fortune 500 Legal Teams.

Mary O’Carroll, Goodwin’s Chief Operating Office, Said the Firm Piloted Many tools before Signing Up With Legora. On the surface, some of the products seem quite Similar, she said. But Legora edged out it Competition with a clean, easy-to-use interface and a feature Called tabular revix, which let uses search thusands for exactly the information they need all at amen.

Legora Also Stood Out for Its Approach to Empowering Lawyers. The Company Meets Regularly With Firm Leaders to Tightly Tailor the Product to their Needs.

“WE FEEL LIKE WE’RE NOT JUST ADOPTING The technology,” O’Carroll Told Bi, “We’re Co-Creating with saying.”

The new finish gives legora Fresh firepower to the grows team and chip away at Harvey’s Dominance. In Addition, The Company Announedd that General Catalyst’s Jeannette Zu Fürstenberg and Iconic’s Pierrepont Have Joined Its Board.

Investors are betting on the team just as much as the tech to drive grown. Jack Altman, An Investor Through his Venture Firm Alt Capital, Described Junestrand As “Environmental, Gritty” European Founder with A Silicon Valley Ethos. Gradient’s Darian Shirazi, Who Wrote an Angel Check ino Legora, Praised Junestrand’s Customer Obsession, WHICH he matched only by his focus on results.

With a team of around 100 employs, legora is proving that smaller doesn’t mean slower, and that being second to market doesn’t by it is out of the breed.

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