Legora raises $550 million at an $8.8 billion valuation

The Swedish legal AI company has secured new funding from investors. Reuters reports the money will go mainly to expansion abroad.

Legora, a Swedish company with an AI platform for lawyers, has raised another $550 million from investors. The platform is used by law firms around the world.

The round values the company at $8.8 billion, equal to about 87 billion Swedish kronor. According to Reuters, the new capital will first and foremost be used to expand the business in North America, Europe and Asia.

The valuation shows the scale of a Swedish AI company that sells to law firms internationally. CEO Max Junestrand said AI is changing the role of the lawyer, leaving more time for judgement and advice.

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