Home / Business and Economy / Legora Eyes $6B Valuation Amidst AI Legal Tool Frenzy
Legora Eyes $6B Valuation Amidst AI Legal Tool Frenzy
13 Feb
Summary
- Legora is in talks to raise funds at a $6 billion valuation.
- The company previously raised $150 million in October.
- Legora competes with AI legal tools from major players like Anthropic.
Legal artificial intelligence company Legora is reportedly in discussions to raise capital that would boost its valuation to $6 billion. This potential funding round comes just four months after the company secured $150 million in October, at which time it was valued at $1.8 billion.
The new funding talks occur against a backdrop of market volatility sparked by AI advancements. A recent AI legal tool release from Anthropic caused a significant sell-off in data and legal services shares, raising concerns about technological disruption.
Legora, founded in 2023, offers automation for tasks such as contract review, due diligence, and legal research. It serves prominent law firms like Linklaters LLP, Cleary Gottlieb Steen & Hamilton LLP, and Goodwin Proctor LLP.
The company, which employs 250 people across six global offices, has 600 customers in over 50 markets. Its CEO, Max Junestrand, has emphasized Legora's comprehensive platform capabilities in response to emerging AI tools.
