Stockholm-based Legora AB, a provider of collaborative artificial intelligence for lawyers, today announced that it has raised $150 million at a valuation of $1.8 billion.

Bessemer Venture Partners led the Series C round, with significant additional investment from existing investors ICONIQ, General Catalyst, Redpoint Ventures, Benchmark and Y Combinator. The round comes on the heels of the company’s $80 million Series B in May, bringing the total funding for the company to $226 million. Legora said it intends to use the funding to build out its product roadmap and support its global expansion.

Generative AI is changing legal work and companies like Legora are building intelligent products that work alongside attorneys. Today’s lawyers work at large scale with knowledge and need to do considerable amounts of research across reading and understanding documents, while also generating consistent work drafts.

Legora offers a legal AI assistant that answers questions, examines documents and provides research, document summarization and comparison. It works alongside a powerful review engine that can extract data from large numbers of documents, called Tabular Review and tools to orchestrate complex legal workflows.

A Word add-in also brings the company’s powerful AI for reviewing and drafting into Microsoft Word, enabling intelligent collaboration directly within lawyers’ text editors.

Legora not only provides knowledge extraction, review, and drafting capabilities, but it also fosters collaboration among colleagues. The review function enables users to mark documents as reviewed and quickly access important information.

“We are seeing astronomical demand for our product. Legal professionals across the globe are adopting AI into their work at an unprecedented rate,” said co-founder and Chief Executive Max Junestrand.

Since the company’s May funding round, Legora has expanded its customer base from 250 to more than 400 and doubled the number of markets it serves from 20 to 40. With offices in Stockholm, London, New York and Sydney, the company maintains a global presence.

When doing research, Legora connects customers to a wide variety of legal databases. Earlier this month, the firm partnered with Editorial Tirant lo Blanch SL, one of the leading legal databases and publishers for Iberian and Latin American markets, to import data directly into its platform. This includes legislation information from international treaties, European regulations, local ordinances and more.

The legal technology AI industry is growing rapidly, with venture capital firms pouring funds into growing outfits. This week, Harvey, a legal AI software development startup, raised $150 million at an $8 billion valuation. Within the last month, legal AI startups Eve and Spellbook raised $103 million and $50 million, respectively.

As reported by Crunchbase, legal and legal tech companies raised more than $2.4 billion in venture capital by late September. The funding was primarily driven by investor interest in AI, covering both seed and growth-stage investments.

“Legora exemplifies how the most transformative AI companies fundamentally reimagine how work gets done – they’ve built not just another legal tech tool, but a collaborative AI platform that elevates the practice of law itself,” said Sameer Dholakia, a partner at Bessemer Venture Partners.

The company said that in the year ahead, it intends to more than double in size and establish further geographical hubs to handle the increasing influx of customer adoption of legal AI capabilities.

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