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Chetan Puttagunta
@chetanp
@benchmark investing at seed/ series a
1.4K Following    108.3K Followers
From Benchmark leading the seed to an $8.8B valuation in 2.5 years, the Legora team has led the industry by bringing the best products to lawyers around the world. Thrilled to be joined by our friends at Atreides, Baron Capital, Capital Group, Fidelity, JPM, and many others!
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We have raised a $550M Series E at an $8.8B valuation, led by Atreides. Every major existing investor is back in, and we’re welcoming Baron Capital, Capital Group, Fidelity, Glade Brook and J.P. Morgan. We picked investors who think in decades. Several of them work with law firms and legal teams every day, so they can see where the work is heading. Lawyers are moving from AI assistants to agents that do multi-step work. The money goes there. We’re growing our teams across North America, Europe, Latin America and Asia-Pacific, and going deeper on the Legora aOS. Thank you to the 1,000+ people at Legora, and to the 140,000 legal professionals who use what we build. I say this a lot because I believe it: it’s the best time in history to be a lawyer. We're thankful to be a part of it. Full story:
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We’ve been selected as one of 4 new vendors chosen to advance to a FY27 Fly Off for the Army’s IFPC Inc 2 interceptor program. More at @BreakingDefense @USARMYPIT @Furientis
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We spend a lot of our time at Instinct on things that go well beyond the classic use cases. But the classic use cases still have to work. Last month, more than 20% of our users had Instinct help with their flights. So we rebuilt the flight search and booking experience from the ground up. Your Instinct can now find you the best deals, book with a single tap, and take care of the messy parts of flying, like lost baggage, missed connections, and cancelled flights. The team put a lot of care into the design, so we hope you like it.
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Thrilled to announce Benchmark’s investment in Furientis! This is a remarkable team building incredible technology to produce scalable, low cost interceptors.
Excited to announce @Furientis @DeptofWar OTA contract for 100mi interceptor and $25M Seed raise led by @benchmark! This couldn't have happened w/o our incredible engineering team testing at industry best pace. Join us- we're hiring across all disciplines!
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1/6 We submitted our application to the OCC to establish Modern Treasury National Trust Bank. If approved and authorized to open, the bank would add federally supervised digital asset custody and related fiat services to @ModernTreasury.
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I was in the Bloomberg studio in London this morning. Q3 was the most hectic quarter in @WeareLegora's history. We added 800 new customers in three months and now work with more than 2,300 across 80+ countries. We also added more ARR this quarter than our total ARR at the end of 2025. I was asked the jobs question, and my answer hasn't changed: our customers are hiring more lawyers. Legal is supply constrained. If you could review every contract, you would. If you could run full diligence on every asset before it goes to investment committee, you would. Better tools mean more of that work gets done, and a lawyer still owns the judgment. We talked about junior lawyers wondering whether they need to learn to code. With large language models, the programming language is English. I'm not especially good with words. Lawyers are, and they turn out to be some of the best drivers of our product. I've said it before, and I'll say it again: I think this is the best time in history to be a lawyer. Thanks @TomMackenzieTV for having me on The Opening Trade. Full interview below.
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Q3 2026 was the strongest quarter in @WeAreLegora's history. By the numbers: $200M+ ARR, crossed in September 2,300+ customers across 80 countries, with 800 new customers added during Q3 40%+ of new business from in-house legal teams We added more ARR this quarter than our total ARR exiting 2025 We shipped improvements to our harness, reducing credit consumption tied to LLM costs on the Agent by ~25% while improving the response quality Product: Q3 opened with our biggest-ever release: Legora Agent, Monitors, and Lists reaching general availability in June. From there: AI-native Legal Research launched @imanageinc MCP integration and expanded file handling went live Legora on Salesforce AgentExchange and Legora inside ChatGPT (via @OpenAI for Law) shipped in the final weeks Those releases are compounding inside the product: Daily active users spend 2+ hours a day on the platform Legal research searches per task have doubled The average search reads 2x more documents We also closed our fifth acquisition of 2026: Wexler, the London-based fact intelligence platform, now forming the factual foundation of Legora's agentic workflows. New Q3 customers included: @PaloAltoNtwks @salesforce @bradleylegal @DanskeBank_UK @SPGlobal @FaskenLaw Thank you to every Legora team member and every customer who bet on us. We intend to earn that trust every day. More soon.
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Legal spending on law firms continues to accelerate. Law firm customers of @WeAreLegora are growing and adding new business lines and expanding staff. AI is expanding the market.
Wait, I thought 6 months ago everyone said lawyers would be FINISHED before the end of the year????
You may have heard that Legora has surpassed $200M in ARR at positive gross margins. Here is the other half of the story: what happens after customers are on the platform. Usage has to map to value, and efficiency gains must show up for customers. Most credit consumption on @WeAreLegora comes from two areas: LLM usage and document processing. In August, we significantly improved our Agent harness, LLM routing, and orchestration. Credits tied to LLM usage on Agent dropped by roughly 25%, with response quality improving. In September, we rebuilt how Legora ingests and processes documents. The work now uses ~25% fewer credits while maintaining quality. Those two changes have reduced credit consumption for the same work by more than 20% since August. Consumption-based customers can now do the same work for fewer credits. Next, we are working on additional harness and routing improvements, as well as more efficient document processing. As we find efficiency gains, our goal is to keep passing them back to consumption-based customers. Legora is building a long-term company to support legal teams for decades to come. Our strong financial health makes that all possible. That includes a pricing model that gives back to our customers.
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Numeral is solving the complexity of sales tax for thousands of businesses around the world with AI. The growth and execution from this remarkable team has been terrific. Thrilled to have invested in every round since we led the Series A.
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Numeral has raised a $100M Series C, led by Insight Partners with participation from Salesforce Ventures, Benchmark, Mayfield, Uncork, Y Combinator, FCVC, and Geodesic. This brings our total funding to $157M. @numeral solves U.S. sales tax, VAT, and GST compliance for 3,500+ global businesses, trusted by companies like Supabase, Eight Sleep, and Graza. We’re building the future of tax -- where AI agents, human expertise, and global compliance come together in one system. Since starting the business in 2023, we’ve grown quickly across our core e-commerce and software segments, while expanding into new industries including manufacturing, distribution, and wholesale. There is a lot of work in front of us. Sales tax is more dynamic than ever, with states like California implementing new taxes on software and more states using AI for enforcement. We are hiring across the org from engineering to product, sales, and marketing. And we’ve just opened our new office in NYC. If you are looking for what’s next, I’d love for you to take a peek at our careers page. Excited for the year ahead. And humbled to be working with investors like @insightpartners, @rebeccaliudoyle, @SalesforceVC, @katiessschwartz, @ZKokosa, @MayfieldFund, @SPangulur, @benchmark, @chetanp, @ycombinator, @gustaf, @uncorkcap, @susanwliu, @GeodesicCap, @arvindayyala, @FundersClub, @mittal, @mantisVC, @AlexPallNY, @ShaanVP, @lennysan, @moizali, @ringmybeller, @khency6, @asturnerr, @maariabajwa and so many others.
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Legora has gone $1M to $200M ARR in less than 24 months continuing to set a speed record for the fastest ever to do it with a direct sales motion. With the best product, this remarkable team continues to define AI for legal teams. Thrilled to have backed them from the seed round.
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I first came to San Francisco when I was 15, with my dad. He is a programmer. To a teenager from a small island outside of Stockholm, this was the place where the future was being built. We walked into Salesforce East and stood there watching the enormous digital display of moving water. Outside, Salesforce Tower was starting to rise. I remember looking up and thinking it would be pretty sweet to have a tower someday. We are not there yet. What I could not have known is that I would be back years later, having dinner with @Benioff and welcoming @salesforce as a @WeAreLegora customer. Salesforce's Legal and Corporate Affairs organization will now use Legora across North America, EMEA and APAC. Their lawyers keep the judgment calls. We take care of the work around them. We have run on Slack since day one and became Salesforce customers when our sales team outgrew its first CRM, so it is good to have it run in the other direction too. Welcome to Legora, Salesforce. Dad, this one feels special.
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We're welcoming Salesforce to Legora. Salesforce has adopted Legora across its Legal and Corporate Affairs organization, in North America, EMEA, and APAC, complementing its use of Agentforce and Slack. This is what an AI-native legal function looks like in practice: a connected stack built for real legal work, at scale. “AI is reshaping how legal teams operate, and with Slack and Agentforce we're building an AI-native, trust-first legal function that empowers our team to work more efficiently and focus their time where it can have the greatest impact. Adding Legora to our transformation portfolio gives our team additional legal tools to support research, drafting, and other workflows, so they can spend more time on the work that requires their expertise and judgment,” said Erica Swainson, VP, Legal Innovation & Strategic Initiatives, Salesforce. With Legora, Salesforce's legal team will stay ahead of an evolving regulatory landscape, apply consistent negotiating positions at scale, and handle more research and drafting directly, with lawyers staying in control where judgment is required. That's the Legora aOS: a single connected system of AI tools that plans, executes, reviews, and delivers legal work end to end.
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What an endorsement for @Benchmark from @Cerebras CEO @AndrewdFeldman: “Benchmark was and extrodinary partner” Were early on our journey but this has also been my experience with Benchmark and @ChetanP 👌 @jaltma, @EricVishria
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For the first time, firms can build compounding engines of institutional knowledge. Those that succeed will become massively more valuable than those that don't.
Series A to $500m run rate revenue in 11 months! Extraordinary team and remarkable product!
It's been amazing to see all the new users to fomo over the past few months We now have 2.5 million users, many of which have joined us recently We've done over $500mn in annualized revenue over the past 30 days We've paid out $10mn to fomo creators in the past 2-3 weeks alone
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Data we are seeing at Legora is that as law firms and legal teams adopt Legora, they become far more efficient and decide to expand their teams to pursue new business opportunities and functions. A great reminder that the world is not zero-sum.
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Every journalist asks me a version of the same question. Will AI mean fewer lawyers? Our customers are hiring more of them. Put complexity of the task on one axis and volume on the other. Low-complexity, high-volume work moves to agents, and that pushes the pyramid up. More of the hard work gets done, because someone finally has the capacity to do it. Then there is demand. When something gets faster and better, the world asks for more of it. Jevons noticed it in 1865. Better steam engines made Britain burn far more coal. That was coal, not law, but the mechanism is the same. More M&A, more disputes, more regulatory work, more companies being started. The pie is growing. An independent study interviewed 30 firms across the AmLaw 200, Magic Circle and top international firms. 42% said Legora has helped them win new work, directly or indirectly. 45% said the same about expanding relationships with clients they already had. 39% have taken on matters that would previously have needed more people, more time, or a no. One firm in that study went through a corporate client's entire technology supply chain, every contract, to work out what they were paying and where. A human team would have needed weeks and the cost would have killed the project before it started. With Legora it took four to five days. Their own summary: it was work that we would not have done in the past. The work was not economical before, so nobody did it and nobody billed for it. Now it gets done, and someone has to do it.
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I co-founded Opendoor ($10B+ rev). Today, I’m launching Summation. We raised $35M from Benchmark & Kleiner Perkins to build an AI analyst you can trust. Here’s where Claude and ChatGPT fall short: 🧵
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Terrific conversation between @MaxJunestrand and @spdholakia. Highly recommend!
If you’re building in vertical AI, here are 6 founder lessons to steal from @MaxJunestrand of @WeAreLegora. He breaks it all down with @spdholakia in their latest conversation → See the lessons below 🧵
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