# AI Legal Tech Players Compared

> A field guide to the companies teaching machines to read contracts, run legal research and draft memos. From Sweden's $5.6B Legora to Thomson Reuters' $650M CoCounsel bet, the AI legal tech race pits enterprise platforms, research incumbents and word-processor plug-ins against each other for the same prize: the billable hour. Here is who leads, who they serve and the numbers that separate hype from traction.

## Achievements

- Legora scaled from ~$3M ARR (end 2024) to ~$100M ARR (April 2026), reaching a $5.6B valuation
- Thomson Reuters' $650M Casetext acquisition became a template for incumbent-buys-AI-startup deals
- LegalOn surpassed 7,000 paying enterprise customers globally by April 2025
- Luminance is used by all Big Four accounting firms and 25%+ of the Global Top 100 law firms
- Ironclad's ARR crossed $200M by January 2026 at roughly 40% YoY growth
- Legal tech as a whole raised a record ~$6B in 2025 with 14 rounds of $100M+

## Latest updates

- **2026-03** — Legora raised a $550M Series D at a $5.55B valuation led by Accel; Harvey raised $200M at an $11B valuation
- **2026-02** — LexisNexis launched Lexis with Protégé in the US, replacing Lexis+ AI with an end-to-end workflow platform
- **2026-01** — Ironclad ARR reported crossing $200M; legal tech confirmed as a record ~$6B funding year for 2025
- **2025-10** — Spellbook raised ~$50M to expand its contract review platform
- **2025-07** — LegalOn raised $50M led by Goldman Sachs Growth Equity and partnered with OpenAI

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Profile page: https://yespress.io/ai-legal-tech-players-compared
Published by YesPress — https://yespress.io
Last updated: 2026-07-30