Nvidia’s NVentures has backed Swedish legal tech startup Legora in a $50 million Series D extension, valuing it at over $5 billion. The investment comes alongside Atlassian and other new financial investors.

Legora, a Y Combinator alum, has crossed the $100 million annual recurring revenue milestone, leading to its significant valuation increase. It now serves more than 1,000 law firms and in-house legal teams across 50 markets. Its main competitor, Harvey, boasts over 100,000 lawyer users.

Both start-ups are ramping up their marketing efforts, with Legora recently launching an advertising campaign featuring Jude Law to highlight the attractiveness of AI in law. The rivalry intensifies as both companies look to expand globally, with Legora focusing on the US and Harvey pushing into Europe.

The battle for dominance in legal tech is heating up, but the real concern lies in the potential competition posed by foundation models from AI giants like Anthropic. Despite this, Legora’s CEO Max Junestrand remains confident in the application of these tools over their foundational capabilities alone.