Nvidia has expanded its AI influence. NVentures, its corporate VC fund, has invested in Legora, reportedly its inaugural legal AI venture.
Using AI to enhance lawyers’ efficiency, the Swedish-born legal tech company is vying against U.S. competitor Harvey.
Together with Atlassian and other new investors, NVentures joined Legora’s cap table in a $50 million Series D extension, following the startup’s $550 million Series D a month prior.
During this period, the Y Combinator alum exceeded $100 million in annual recurring revenue (ARR), contributing to its new $5.6 billion post-money valuation.
This valuation puts Legora closer to Harvey, which reached $11 billion last month when Sequoia increased its investment. Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Matt Miller’s Evantic, and Kleiner Perkins also participated in that round.
Legora is supported by prominent VCs and highlights its notable clientele, such as Bird & Bird, Cleary Gottlieb, and Linklaters. The platform, launched 18 months ago, is utilized by over 1,000 law firms and in-house legal teams across 50 markets.
Harvey also has a significant presence, claiming 100,000 lawyers across 1,300 organizations as clients, including global law firms like Hengeler Mueller and Latham & Watkins and corporate legal teams at companies like T-Mobile and Bridgewater.
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The rivalry for global leadership will see Harvey and Legora competing in each other’s territories. Legora has opened several global offices, focusing on U.S. expansion, while Harvey is expanding into Europe.
With ample capital, their competition has shifted to capturing attention. Shortly after Harvey signed a brand partnership with Suits actor Gabriel Macht, Legora launched an ad campaign featuring Jude Law with the slogan “Law just got more attractive.”
Both companies are investing in marketing, recognizing that their foundations on large language models by AI giants might pose future competition. When Anthropic launched a legal plugin for Claude, it impacted the market significantly.
Legora CEO Max Junestrand remains unperturbed. He stated, “Foundation models are improving quickly, but the real value is in how they’re applied,” highlighting how AI’s integration in legal teams is shaping industry evolution.
NVentures’ investment signifies Legora’s strategic position against both model creators and its larger rival.
Nonetheless, Nvidia is known for diversifying its investments, having supported both Anthropic and OpenAI before determining its future direction.
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