Legal AI Startup Legora Raises $550 Million for US Expansion

Swedish legal artificial intelligence startup Legora has raised $550 million in a Series D funding round led by Accel, tripling its valuation from an October round to $5.55 billion as it seeks to expand in the US.

Existing investors Benchmark, Bessemer Venture Partners, General Catalyst, Iconiq, Redpoint Ventures and Y Combinator participated in the round, the company said in a statement Tuesday, confirming an earlier Bloomberg News report.

Legal AI startups have boomed as tools powered by large language models promise to upend the profession, saving lawyers time on grunt work like document review and ...