Legora raised $80 million in Series B funding in May 2025 led by ICONIQ Growth and General Catalyst, valuing the company at $675 million post-money.

The company previously raised a $25 million Series A in July 2024, following a $10.5 million seed round backed by Benchmark. Other notable investors include Redpoint Ventures and Y Combinator from the company's earlier stages.

Altogether, Legora has raised approximately $115.5 million in total funding across its seed, Series A, and Series B rounds.

Legora operates as an AI workspace for lawyers built around four integrated modules that cover the complete legal document lifecycle.

The Tabular Review feature functions like a spreadsheet where legal teams drag folders of contracts into the system. Each document becomes a row while custom prompts become columns, allowing the platform to extract clauses, dates, and risk flags across thousands of documents simultaneously. Users can sort and filter results like Excel, then execute bulk actions such as redlining or exporting to deal summaries.

The Microsoft Word Add-In keeps lawyers in their familiar drafting environment while providing AI assistance through a side panel. Lawyers can request clause rewrites, compare positions against precedents, or insert specific language types, with all changes appearing as native track changes with citations. Automated Playbooks let knowledge teams encode firm policies once, then automatically flag violations and propose corrections across documents.

The Research and Conversational Assistant accepts natural language questions and searches across open web sources, licensed legal databases, and the firm's document management systems simultaneously. The system provides paragraph-form answers with inline citations, allowing users to click back to source materials.

Workflows, launched in June 2025, acts as an orchestration layer that connects the other modules using natural language instructions. Legal teams can string together complex processes like search, extract, draft, and review into automated sequences that deploy AI agents for each task component.

Legora operates a B2B SaaS model targeting law firms and corporate legal departments with subscription-based pricing. The company focuses on enterprise sales given the high-stakes nature of legal work and the need for extensive security and compliance features.

The business model emphasizes land-and-expand dynamics, where initial pilot deployments at major firms grow into firm-wide licenses. This approach has proven effective with clients like Bird & Bird, Linklaters, and Cleary Gottfried, where small teams expand usage across entire organizations.

Legora's value proposition centers on automating routine legal tasks to free up lawyers for higher-value work. The platform integrates deeply with existing legal technology stacks, connecting to document management systems like iManage and SharePoint, and working within Microsoft Word where most legal drafting occurs.

The company's pricing reflects the premium nature of legal software, with average annual contracts around $280,000 per customer. This high contract value supports the intensive sales process required for legal technology adoption and the significant security and compliance requirements of law firm clients.

Revenue growth comes primarily from expanding usage within existing accounts as more lawyers and practice groups adopt the platform, rather than pure new customer acquisition.

Thomson Reuters dominates with Westlaw Precision and CoCounsel, bundling AI research, drafting, and document review into their massive proprietary case law database. Their global sales force and existing multi-year contracts with major firms create significant switching costs and distribution advantages.

LexisNexis competes with Lexis+ AI and their Protégé assistant, leveraging comprehensive statutes and secondary sources. Bloomberg Law brings corporate and finance data advantages through their parent company's information moat, particularly for transactional work.

These incumbents defend their positions through enterprise-wide licensing deals and trust messaging around established legal research quality, though they typically ship new features more slowly than startups.

Harvey leads this category with a $5 billion valuation after raising $300 million in Series E funding. The company serves 337 law firms and is expanding into adjacent areas like tax and accounting, positioning itself as a comprehensive AI legal assistant.

Spellbook focuses specifically on contract drafting and review, while Robin AI targets contract analysis and negotiation. These companies compete on speed of innovation and often price 50-70% below incumbent solutions, though they face rising compute costs as clients demand private model deployments.

The startup category benefits from faster product development cycles and modern user experiences, but must overcome procurement barriers around security certifications and data residency requirements that favor established vendors.

Ironclad leads in contract lifecycle management with $150 million in annual recurring revenue, focusing on legal operations transformation. Luminance specializes in AI-driven document analysis and due diligence processes.

These players often integrate with or compete against Legora's document review and workflow capabilities, particularly in M&A and contract management use cases where document processing speed and accuracy are critical.

Legora's June 2025 launch of Workflows positions the company to move beyond point solutions into comprehensive legal process automation. The orchestration layer enables end-to-end automation of complex legal tasks like M&A due diligence, contract repapering, and regulatory compliance analysis.

Deep Microsoft Word integration through the Add-In captures more of lawyers' daily drafting and editing hours, which still represent the majority of billable legal work. The August 2025 addition of template filling, anonymization, and writing improvement features expands the platform's utility within existing workflows.

External data connectors to SEC filings, legal databases, and document management systems create opportunities for premium research modules including e-discovery, expert witness analysis, and market terms benchmarking that can increase average revenue per customer.

Legora currently serves approximately 250 firms and legal teams but operates in a market with over 50,000 law firms and 40,000 corporate legal departments globally. The Series B funding specifically targets operational scale-up to reach mid-market firms and in-house legal departments.

Early firm-wide rollouts demonstrate a proven playbook where small pilots expand into enterprise licenses that multiply seat counts by 10-20x. This land-and-expand model provides significant growth potential within existing customer relationships.

The company's success with elite firms like Linklaters and Cleary Gottfried creates reference customers that can accelerate adoption among peer firms and drive expansion into new market segments.

Legora's 2025 New York office opening provides access to the world's largest legal services market worth approximately $370 billion annually. This expansion unlocks opportunities with major US law firms and Fortune 500 in-house legal teams.

The strategic partnership with Pérez-Llorca positions Legora as a compliance solution for European companies adapting to the EU AI Act, creating entry opportunities into continental corporate legal departments. The Asia-Pacific region represents additional expansion potential given forecasted legal technology growth rates exceeding 10% annually.

International expansion also enables localized language models and regional partnerships that can tap into multi-billion dollar opportunities in non-English speaking legal markets.

Model commoditization: As large language models become more accessible and legal AI capabilities commoditize, Legora faces pressure from both incumbent legal research companies and new entrants who can quickly build similar functionality. The company's competitive advantage may erode if AI capabilities become table stakes rather than differentiators.

Regulatory constraints: Legal AI faces increasing scrutiny around accuracy, bias, and professional liability as bar associations and regulators establish guidelines for AI use in legal practice. New restrictions on AI-generated legal work or requirements for human oversight could limit Legora's automation capabilities and slow adoption.

Customer concentration: With an average revenue per customer of $280,000, Legora likely depends on a relatively small number of large law firm clients for significant portions of revenue. The loss of major accounts or economic pressures that force firms to reduce technology spending could materially impact growth and financial performance.