May 21, 09:42 AM

Legora Raises $80M Series B at $675M Valuation, ICONIQ and General Catalyst Lead Investment

Stockholm-based legal AI company Legora has raised $80 million in a Series B funding round at a $675 million valuation. The round was co-led by ICONIQ Growth and General Catalyst, with participation from Redpoint Ventures, Benchmark, and Y Combinator. This brings Legora's total funding to $120 million. Founded in 2023 in Stockholm by CEO Max Junestrand, Sigge Labor, and August Erséus, Legora rebranded from Leya in February 2025. The company has a team of around 100 employees and reports annual recurring revenue exceeding $70 million as of April. Its AI platform automates legal research, contract review, and drafting, and integrates with Microsoft Word, iManage, and SharePoint. Legora serves over 250 law firms and in-house legal teams across 20 markets, including major clients such as Cleary Gottlieb, Goodwin, Bird & Bird, Mannheimer Swartling, and Perez-Llorca. Its technology is reported to reduce contract review times by up to 80% and due diligence costs by more than half. The new funding will be used to accelerate product development, expand integrations, scale operations, and deepen Legora's presence in key markets, particularly in the United States where it recently opened a New York office. As part of the investment, General Catalyst’s Jeannette zu Fürstenberg and ICONIQ’s Seth Pierrepont have joined Legora’s board.

Written with ChatGPT (GPT-4).

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