Swedish startup Legora, the fast-growing AI legal assistant platform, has raised an $80 million Series B at a $675 million valuation to further expand its global footprint. The round was led by Iconiq and General Catalyst, with participation from existing backers Redpoint Ventures, Benchmark, and Y Combinator.
Founded just two years ago by CEO Max Junestrand and CTO Sigge Labor, Legora (formerly Leya) has scaled rapidly. The company now employs 100 staff across offices in Stockholm, London, and New York, and works with over 250 legal firms and teams in 20 markets.
The funding comes amid a surge in demand for AI in the legal profession. Research from MarketsandMarkets forecasts the global legal AI market will more than triple from $3 billion in 2025 to nearly $11 billion by 2030.
From YC to Legaltech Leader
Legora first gained momentum as a participant in Y Combinator’s 2023 accelerator program, one of many startups attempting to automate parts of legal workflows. While dozens of AI legal tools launched at the same time, few have sustained traction. “It felt like 500 AI legal assistants were launched when we started,” Junestrand told Sifted. “Now it’s just us and a few others — we managed to put a lid on the market.”
Junestrand believes Legora’s edge comes from building a broad AI agent platform, not a narrow point solution. “We didn’t want to just solve due diligence for M&A. We built a system that could leverage point tools — search databases, translate content, handle e-signatures. That’s where the real opportunity lies,” he explained.
Legora’s product, built on large language models, helps lawyers draft, review, and research legal documents collaboratively, accelerating what were once time-consuming processes.
Its clients include top-tier law firms like Cleary Gottlieb, Goodwin, Bird & Bird, and Mannheimer Swartling.
Growth Fueled by Strategic Execution
While Legora wasn’t actively fundraising, Junestrand says they opted to take the money “before the bank account hits zero.” He’s currently en route to San Francisco, then India, where Legora is onboarding a major new customer.
“We’ve gone from 15 people to 100 in a year. From a late-stage startup to a global force — it’s been hard to imagine,” Junestrand said. “We’ve always wanted to build a global category leader, and that takes a real sense of urgency.”
New board members include Jeannette zu Fürstenberg from General Catalyst and Seth Pierrepont of Iconiq, both of whom praised Legora’s product, adoption speed, and founder-led execution.
“Legora AI legal assistant is transforming one of the most specialized industries with an outstanding product,” said Fürstenberg. “It’s redefining how legal work gets done.”
