Legora has just reached $100 million in revenue, achieving this milestone in 18 months.

      Eighteen months ago, Legora was a startup in Stockholm with a small number of law-firm clients and approximately $1 million in annual recurring revenue (ARR). On Tuesday, the company informed Business Insider that it has surpassed $100 million in ARR, a benchmark that typically takes nearly a decade to achieve in the enterprise software sector. Max Junestrand, the 26-year-old cofounder and CEO of Legora, emphasized that this figure is a sign of market demand rather than mere sales techniques. “This shows how rapidly our clients are advancing the industry,” he stated. “They’re transforming legal processes, and AI is becoming fundamental to the profession.”

      If independently verified, this assertion would position Legora among the fastest-growing software firms in European history and firmly establish it as a serious competitor to Harvey, the San Francisco-based legal AI leader. Harvey was last valued at $11 billion after a $200 million funding round in late March and reported $200 million in ARR while serving over 100,000 lawyers across 1,300 organizations. According to Legora, its customer base has grown to more than 1,000 firms and legal teams, up from about 800 during its Series D funding in early March.

      The revenue claim provides context for a valuation that previously seemed difficult to support based solely on the figures. Legora raised $550 million in a Series D round led by Accel on March 10, which valued the company at $5.55 billion. At that time, its ARR was approximately $23 million, which equated to an astounding valuation multiple of 240 times revenue. If the company is indeed closer to $100 million, the multiple drops to about 55 times, which, while still high, falls within the accepted range for high-growth AI ventures. Prominent investors in that round included Benchmark, Bessemer Venture Partners, General Catalyst, ICONIQ, Redpoint Ventures, Menlo Ventures, Salesforce Ventures, Bain Capital, and Y Combinator, which supported Legora in its Winter 2024 cohort. Overall, total funding now amounts to $816 million.

      Junestrand’s background exemplifies the argument for Europe to invest more in young entrepreneurs. At 23, he co-founded Legora with Sigge Labor, the chief technology officer, and August Erséus. Before this, he competed in professional gaming and studied machine learning and business simultaneously at KTH and the Stockholm School of Economics, while also working at McKinsey. None of the founders had law experience, but they discovered Labor’s early software prototype that could automate basic legal tasks during the pandemic, although limitations in large language models at that time restricted its capabilities. Once the models advanced, Legora launched.

      The current product addresses the entire spectrum of legal tasks traditionally assigned to junior associates: examining data rooms during due diligence, comparing contracts clause by clause, drafting briefs, and conducting multi-document reviews. In November 2025, the company introduced Portal, a platform intended to allow law firms to monetize their expertise and provide it to in-house legal teams through customized AI workflows and intelligent document sharing. Design partners for Portal include Linklaters, Cleary Gottlieb, Goodwin, Deloitte, and Bird & Bird, with general availability anticipated in the first quarter of 2026. On March 12, shortly after closing the Series D, Legora acquired Walter AI, a Canadian startup focused on creating agentic legal workflows, incorporating its nine-person team into their Stockholm office and setting up a Toronto office under Walter’s former chief customer officer.

      Legora's progress has been influenced by a legal industry that has seemingly moved beyond questioning the role of AI in legal practice. A Thomson Reuters survey from January found that law firm expenditures on technology and knowledge-management tools grew by 9.7% and 10.5%, respectively, in 2025, marking the fastest real growth recorded in the sector. Additional research indicates that 55% of lawyers are currently using AI in some capacity. The global legal AI market, estimated to be worth between $2.7 billion and $5.6 billion depending on the definition of “legal AI,” is projected to expand at compound annual growth rates of 17% to 22% through the end of the decade.

      The competitive landscape is tightening. Harvey and Legora have emerged as the two leading platforms for large law firms, with most other competitors either being acquired, consolidated, or confined to niche applications. Harvey’s strength lies in its deep integration: its tools are embedded in the daily operations of several of the world’s largest firms, including those in the Am Law 100 and Magic Circle. On the other hand, Legora boasts broad coverage and rapid expansion. The company grew its clientele from 250 firms in May 2025 to over 1,000 in less than a year, increased its workforce from 40 to over 400, and opened offices in London, New York, and Sydney alongside its