AI legal tech firm Legora is reportedly in early discussions with investors for a new funding round, aiming for a $10bn valuation. This potential valuation would be nearly double the $5.6bn it achieved in April.
The Stockholm-based startup develops AI tools designed to assist law and professional services firms, as well as corporate in-house legal teams, in drafting and reviewing documents. The Financial Times reported that the $10bn valuation could involve Legora raising new capital and selling existing shares.
In April, Legora secured backing from Nvidia's venture arm NVentures and Atlassian in its D series round. Other investors included Barclays, Airtree, Insight Partners, and Liberty Global, bringing its total funding raised to $866m.
Analysts suggest Legora's pursuit of further funding highlights growing investor interest in European AI startups. Navina Rajan, senior EMEA private capital analyst at PitchBook, noted that AI companies already account for approximately one-third of Europe's potential IPO pipeline.
Legora is also expanding its presence in the legal tech sector through partnerships. In May, Kirkland & Ellis, reportedly the world's largest law firm by revenue, announced a $500m (£370m) investment to develop its own custom AI platform with Legora.