Legora raises $550M Series E at $8.8B valuation led by Atreides Management

Legora said it raised $550 million in a Series E round at an $8.8 billion post-money valuation. Atreides Management led the round, and Baron Capital, Capital Group, Fidelity Management and Research Company, Glade Brook Capital Partners and JPMorgan Chase joined as new investors. Accel, Benchmark, Bessemer Venture Partners, General Catalyst, Iconiq, Insight Venture Partners, Redpoint Ventures, Salesforce Ventures and Sands Capital also took part. The company says its annual recurring revenue grew from $1 million to $100 million in under 18 months and now exceeds $200 million. The new valuation compares with $5.6 billion at its previous round in April, and total funding now stands at $866 million across eight rounds. Legora also said in-house legal teams made up 40% of its new customers in the third quarter. For founders building vertical AI agents, the figures show how fast a workflow product can scale when it sells into professional teams. Legora's pitch centers on agents that carry out multistep legal work rather than answer questions, a shift that many application companies now face.