Swedish legaltech Legora hits $5 billion valuation as investors pile money into European AI startups

Swedish legaltech Legora has raised $550 million at a $5.55 billion valuation in a Series D round, the company announced on Tuesday, as investors pile money into European AI startups.

The round was led by Accel, with participation from existing investors Benchmark, Bessemer Venture Partners, General Catalyst, ICONIQ, Redpoint Ventures and Y Combinator.

New investors including Alkeon Capital, Bain Capital, Firstmark Capital, Menlo Ventures, Salesforce Ventures, Sands Capital and Starwood Capital were also involved.

Legora’s Series D is its third raise in the past year.

The announcement comes on the back of a bumper start to the week for European AI companies.

U.K.-based AI infrastructure Nscale said on Monday that it had raised a $2 billion Series C and on Tuesday former Meta AI chief Yann LeCun’s new AI startup Advanced Machine Intelligence Labs announced it had picked up over $1 billion. U.K. autonomous driving startup Wayve hit an $8.6 billion valuation in February after raising a $1.2 billion Series D.

Record funds were ploughed into European AI startups in 2025, with $21.7 billion invested, according to dealcounting platform Dealroom. Just over two months into 2026, AI startups in the region have raised more than $9 billion.

“Over the past year, the pace of adoption in the U.S. has exceeded our expectations, as leading firms and in-house teams move decisively from experimentation to embedding AI across their organisations,” Max Junestrand, CEO and cofounder of Legora, said in a statement.

“This funding enables us to accelerate our U.S. growth – investing in talent and infrastructure, strengthening our presence in key markets, and ensuring we can support customers on the ground as they integrate AI into their core workflows.”

Legora is expanding its footprint in the U.S. with new offices in Houston and Chicago, alongside its existing presence in New York and Denver. The company expects to open additional local hubs and grow to more than 300 employees across its U.S. offices by the end of 2026, it said.

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.