Swedish LegalTech startup Legora attracts €70.6 million for collaborative AI aimed at law firms and legal teams

Despite not actively seeking funding, Legora, a Stockholm-based LegalTech startup, announced today a €70.6 million Series B funding round in order to further develop their collaborative AI platform – landing a €596 million valuation.

The round was led by ICONIQ and General Catalyst, with continued support from existing investors Redpoint Ventures, Benchmark, and Y Combinator.

Max Junestrand, CEO and Founder of Legora said: “The investment is a clear validation of the value our product is delivering to lawyers around the world. While we weren’t actively seeking funding, the strength of our growth, product, and client partnerships naturally attracted this backing, and I am ecstatic to have ICONIQ and General Catalyst with us on the journey as Seth and Jeannette join our board.

“This enables us to double down on what’s always set Legora apart – deep collaboration with our clients – and to scale innovation and accelerate product development, ensuring we leverage rapidly changing technology to meet the needs of the legal profession. We’re committed to building a product that not only solves today’s challenges but continues to adapt and deliver long-term value.”

Founded in 2023, Legora claims to be the world’s first truly collaborative AI for lawyers –  serving over 250 law firms and in-house legal teams across 20 countries. Co-founded by CEO Max Junestrand and CTO Sigge Labor, Legora now has offices in New York, Stockholm and London with 100 employees, and has raised €105 million in funding to date.

Seth Pierrepont, General Partner at ICONIQ commented: “From our first conversation with Max and Sigge, it was immediately evident to us that they are building with rare clarity and velocity, creating a platform that doesn’t just fit into legal workflows – it elevates them, and understands the nuance and pace of modern legal teams.

“In just two years, they’ve delivered an enterprise-grade product that’s already trusted by hundreds of law firms and in-house legal teams globally. We’re proud to partner with Legora as they scale what we believe is a category-defining platform that’s reshaping how legal work gets done.”

Legora’s client portfolio includes Cleary Gottlieb, Goodwin and Bird & Bird – helping lawyers review, draft and work more effectively with AI.

Jeannette zu Fürstenberg, Managing Director and Head of Europe at General Catalyst added: “Legora is driving AI transformations in a highly specialised industry. With an outstanding product, rapid adoption by top-tier firms, and a Founder who combines rare product instinct with exceptional execution, as we see it, Legora is redefining how legal work gets done. We’re excited to support Max and the team as they scale this category-defining platform.”

Legora believes that it is their collaborative approach to developing and embedding its AI that underpins its success to date. Legora aims to be more than just a platform, but a partner to clients, working alongside them from the first interaction to company-wide rollout and beyond.

Their AI platform is reportedly already powering multiple work-critical use cases and helping teams get to the heart of key issues in “hours rather than days” – enabling improved and more confident client responses with less write-offs.

Mary O’Carroll, Goodwin’s Chief Operating Officer commented: “Legora represents exactly the kind of strategic technology investment that keeps Goodwin at the forefront of legal excellence. We’ve been very pleased with the initial results we have seen since partnering with them in March, and we look forward to continuous improvement in how our lawyers use Legora to deliver legal services and insights to clients.”

Junestrand added: “AI, simply put, is a historic opportunity for legal professionals to get real leverage on their expertise and know-how. We have observed tasks such as reviewing data-rooms go from weeks to hours with no loss in accuracy – making human-machine intelligence and collaboration the de facto way of working. Both law firms and legal teams are already reaping the benefits of these advancements at scale.”

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