Legal AI Firm Legora Raises $550 Million
Legora raised $550 million in a Series E round at an $8.8 billion valuation led by Atrides, as its annual recurring revenue surpassed $200 million.
Legal AI company Legora raised $550 million in a Series E funding round at an $8.8 billion valuation, led by Atrides Management.
Baron, Capital Group, Fidelity, Glidebrook, and JPMorgan participated in the round, along with all major existing investors, according to a company statement.
The company's annual recurring revenue surpassed $200 million, after growing from $1 million to $100 million in less than 18 months, then adding another $100 million in less than six months.
The company will use the funds to expand in North America, Europe, and Asia-Pacific, and to develop its "AOS" platform.
What Do These Terms Mean?
Series E Round: A late-stage funding round that typically precedes an IPO or major expansion, following Series A, B, C, and D rounds.
Annual Recurring Revenue: The total amount a company collects from recurring annual subscriptions, used to measure software business growth.
Valuation: The estimated market value of a company set by investors when injecting new capital.
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