The valuation was a big jump from the $1.8 billion Legora achieved just last October, when it raised a $150 million Series C round. The company has now raised a total of $866 million since being founded in 2023 by Max Junestrand, Sigge Labor and August Erseus. Nvidia has been an active startup investor, backing over three dozen companies so far in 2026, according to Crunchbase data. The chip giant has a stake in several of the most valuable AI companies, including OpenAI, Databricks, xAI and ScaleAI. It also has a number of power-generation-related investments sprinkled in, indicating ongoing concern and interest in how we are going to feed all those power-hungry AI bots. Meanwhile, venture funding for legal tech startups reached a record high in 2025, driven by investor enthusiasm for AI's potential to automate the legal profession. Per Crunchbase data, companies in the legal and legal technology sectors raised $4.08 billion in seed- through growth-stage funding in 2025. That's an impressive 77.4% increase from the $2.3 billion raised by legal tech startups in 2024....

While the official press release did not disclose the terms of the deal, Frost (who had previously left the company), posted on X, LinkedIn, and Instagram that his startup walked with $105 million cash and had only raised $8 million from investors. That's a healthy return by any measure. Frost had not been running the company for about two years, according to a LinkedIn post by Skio's current CEO, Aidan Thibodeaux, who began as the startup's first COO. When he took over, he described a grind that involved no spend on marketing, ads, or a sales team. Instead, they focused spending exclusively on building the product. He and the founding CTO, Andrew Chen, made every sales call themselves, he wrote. Frost's story is even more stirring. In his Instagram post, he wrote that he solo-founded the startup after having a panic attack that caused him to leave his job as an engineer at Pinterest. COVID shut the world down two weeks later. Frost got into YC and says in another post that he 'completely failed during the batch,' until he pivoted to this subscription idea. In three years, he got the company to $10 million in ARR and, he says, profitable. Then another 'team came together and turned this early traction into a real company,' he credits....

The long-struggling electric vehicle startup made the payments in a year when it delivered only four vehicles and lost nearly $400 million. The company has pivoted to selling cheaper vans and robots imported from China. The payments happened while Faraday Future was still under investigation by the Securities and Exchange Commission (SEC), which was probing what are known as 'related party transactions' between the company and entities related to or controlled by Jia, Faraday's own filings have shown. The SEC was also investigating whether Faraday Future properly represented the level of control Jia had over the company when it went public in 2021, and whether it lied about early sales of its EVs in 2023. The SEC dropped its four-year investigation in March, as TechCrunch first reported, despite having sent notices to Faraday Future, Jia, and other executives last year stating that investigators were recommending an enforcement action. The closure of the investigation comes amid a historic drop in white-collar crime enforcement during the second Trump administration....

This brings Legora's valuation just a tad closer to Harvey's, which reached $11 billion last month when Sequoia tripled down on its investment. Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Matt Miller's Evantic, and Kleiner Perkins also participated in that round. Legora, too, is backed by high-profile VCs, but it puts even more emphasis on the big names it secured as clients, such as Bird & Bird, Cleary Gottlieb, and Linklaters. According to the company, the platform it launched only 18 months ago is now used by more than 1,000 law firms and in-house legal teams across 50 markets. Harvey has game in that area too. It claims 100,000 lawyers across 1,300 organizations as customers, ranging from global law firms like Hengeler Mueller and Latham & Watkins to corporate legal teams at companies like T-Mobile and Bridgewater. With global leadership as the end goal, the Harvey v. Legora rivalry is one they intend to play on each other's home turf. Legora has opened multiple offices around the world with the U.S. a key focus for its expansion. Conversely, Harvey is pushing into Europe....