Legora has secured an $80 million funding round led by General Catalyst and Iconiq, increasing its valuation to $675 million. This legal-tech startup, assisting lawyers with tasks like legal research and document drafting, attracted attention despite not actively seeking funding. Their CEO noted significant interest and noted a strong trajectory with over 250 clients in 20 markets, including prestigious law firms. Their software offerings, such as chatbots, are becoming essential tools for modern legal operations, signaling a broader trend in legal-tech investments amidst rising competition.
When Seth Pierrepont heard whispers of Legora's fundraise, he boarded a flight to Stockholm. The Iconiq investor had done dozens of calls with law firms about the tools changing the way their attorneys work. The Legora name kept coming up.
Legora builds chatbots and agents - software that can perform basic tasks on their own - for things like redlining a contract, drafting, or filling in a checklist for a transaction.
Legora's funding highlights a trend in legal-tech investments, challenging rivals like Harvey.
I don't think it's a secret that things have been really working,” Junestrand said.
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