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NVIDIA Venture Capital arm NVentures participates in Series D expansion funding for Legora, an AI platform for lawyers
According to Beating Monitoring, TechCrunch reports that NVIDIA has added a new piece to its AI landscape, with its corporate venture capital arm NVentures investing in Legora, reportedly its first investment in the legal AI field.
Legora is a Swedish-founded legal technology startup that uses AI to help lawyers improve efficiency and competes with American company Harvey.
With the participation of Atlassian and other new investors, NVentures has joined Legora’s shareholder structure to participate in its $50 million Series D expansion financing. This funding round comes just one month after the company completed a $550 million Series D financing last month.
During this period, Legora, a company that was previously selected for Y Combinator, has achieved an annual recurring revenue (ARR) of over $100 million, a milestone that has pushed its latest valuation to $5.6 billion (post-funding valuation).
This valuation brings Legora closer to Harvey’s level, which reached a $11 billion valuation last month. Additionally, Andreessen Horowitz, Coatue Management, Conviction Partners, Elad Gil, Evantic (under Matt Miller), and Kleiner Perkins also participated in this round.