Legora Secures $550 Million Series E at $8.8 B Valuation

Legora just raised $550 million in a Series E round, yet its valuation is only $8.8 billion, half of rival Harvey’s $15.5 billion. The deal was announced on Wednesday and was led by Atreides Management. Other backers include Baron Capital, Bessemer Venture Partners, General Catalyst and Menlo. Legora will use the cash to expand its AI‑driven workflow tools across North America. The company had just added a $50 million extension to its $550 million Series D in April, valuing it at $5.6 billion. Back then its annual recurring revenue was $100 million, which has now doubled to over $200 million. That ARR matches Harvey’s latest reported figure, showing both firms are racing to dominate legal AI services. Investors say the surge reflects law firms’ growing appetite for AI that does more than answer questions. Legora’s $200 million ARR now puts it on equal footing with Harvey’s revenue milestone.