Atreides Management has led a $550m Series E round in Legora, valuing the legal AI company at $8.8bn post-money, a sharp step up from the $5.6bn valuation at its previous round.
Every major existing investor also took part, including Accel, Benchmark, Bessemer Venture Partners, General Catalyst, ICONIQ, Insight Venture Partners, Redpoint Ventures, Salesforce Ventures, and Sands Capital. Legora said it deliberately built the round around investors with a long time horizon.
It combined long-term holders with strategic investors that work with law firms and in-house legal teams every day. The mix of crossover funds and large asset managers often appears in late-stage rounds ahead of a possible listing.
Source: PE Insights · Summarized by HeadlinesBriefing