LegalOn Raises $50 Million in Series E Funding to Boost Legal AI Tools
Legal tech startup LegalOn has secured US$50 million in a Series E funding round led by Growth Equity at Goldman Sachs Alternatives. This move highlights growing interest from major financial institutions in the legal AI sector. Other participants in the round include World Innovation Lab, Japanese law firm Mori Hamada, Mizuho Bank, and Shoko Chukin.
This latest round brings LegalOn’s total funding to over US$200 million, following a US$101 million Series D round in 2022.
From Japan to Global Markets
Founded in Japan in 2017 as LegalForce, the company expanded into the US market in 2022. LegalOn is now focusing on growth in the UK and other international legal markets.
Daniel Lewis, LegalOn’s global CEO, said the new capital will be used to accelerate development of agentic AI tools and expand business development efforts.
“We’re going to be building a variety of agents across the workflow that help lawyers go from intake all the way through to completion on a wide variety of tasks,” Lewis explained. “We’ve come to believe that the problems that legal teams are facing around the world … are really universal.”
Product Expansion and Strategic Partnership
The Series E funding comes after recent product enhancements, including the launch of a Matter Management module and an AI-powered playbook feature introduced in January. These additions extend LegalOn’s offerings beyond its original focus on contract review.
LegalOn also announced a strategic collaboration with OpenAI, granting early access to OpenAI’s advanced models via ChatGPT Enterprise and its API. Engineers from both companies are working together to develop new legal agents aimed at providing secure generative AI tools tailored for enterprise legal use.
While LegalOn has previously integrated OpenAI’s models, Lewis noted this collaboration will allow for “closer technical alignment and earlier access than what’s available to competitors.”
Goldman Sachs’ Role and Industry Context
Goldman Sachs’ involvement reflects a cautious but growing interest from large financial institutions in legal technology. The bank also participated in Clio’s US$900 million Series F round last year, although such investments remain relatively rare.
- Funding amount: US$50 million in Series E
- Total funding: Over US$200 million
- Lead investor: Goldman Sachs Alternatives Growth Equity
- Other investors: World Innovation Lab, Mori Hamada, Mizuho Bank, Shoko Chukin
- Strategic partner: OpenAI (ChatGPT Enterprise)
LegalOn’s approach signals a clear trend toward integrating AI agents throughout legal workflows, from client intake to case completion. For professionals in IT, development, and legal fields, this means new opportunities to leverage AI tools for improved efficiency and accuracy in legal processes.
For those interested in expanding their AI skills relevant to legal tech, exploring courses on Complete AI Training can provide practical knowledge in AI implementation and automation.
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