Legal tech startup Legora is in talks to raise fresh funding that would triple its valuation to $6bn, just four months after its last round, according to reports.
On Friday, Bloomberg reported that while Legora was in the process of finalising its latest funding round, it remains unclear how much capital it is seeking to raise, citing people familiar with discussions. The round is expected to be led by an existing investor, one of the people said.
Founded in 2023, Legora offers a collaborative AI platform built on top of large language models (LLMs) to help lawyers in their day-to-day work, such as researching, reviewing or drafting legal documents.
The company raised funds twice last year: first an $80m Series B at a $675m valuation in May; followed by a $150m raise at a $1.8bn valuation in October.
The fundraising comes weeks after Anthropic unveiled a new AI legal tool that rattled public markets, triggering a selloff in legal software stocks.
In an interview with Sifted last week, the company's VP of communications and public affairs Jesper Wigardt insisted Legora was unfazed by Anthropic's advances.
“What Anthropic shipped is not a full legal AI platform,” he said. “There’s a meaningful difference between offering a plug-in and operating a full, robust legal AI platform.”
Sifted approached Legora for comment.
