Swedish legaltech business Legora has acquired commercial real estate AI platform Cadastral as it seeks to expand its coverage in legally intensive and complex industries.
Legora says the commercial real estate market generates significant volumes of legal work, including transactions, underwriting, due diligence, leasing, refinancing, zoning matters and disputes, and is a sector that has been under-resourced by AI legaltech.
The Cadastral platform provides an AI assistant tool for commercial real estate firms, helping to draft and review documents, analyse property deals and prepare contracts.
Max Junestrand, CEO and co-founder of Legora, said: “What impressed me most about Cadastral was the speed. They identified a gap in one of the most demanding markets in the world, built a product that serious firms actually trust and landed some of the biggest names in commercial real estate in record time.
“We’re incredibly excited to bring their talents and capabilities to Legora.”
Abe Somani, co-founder of Cadastral, who has taken a new role as director of asset management at Legora, said that joining them will take the development of its platform “much further and much faster”.
He added: “We built Cadastral because we believed AI agents could transform how commercial real estate firms handle their legal and transaction workflows. Our growth and customers proved that the industry is ready for agentic transformation.”
Legora says that the acquisition is to anchor plans to construct its first major US engineering hub in New York by the end of this year, with more than 200 staff.
New York-based Cadastral was founded in 2024 and then officially launched last year by Somani and Aman Dhesi, who already have led a team of engineers in the city.
It has a customer base of more than 50 clients and has grown revenue by an average of 40% per month, according to Legora.
Somani was previously an adviser for technology-focused print services firm Stakes Manufacturing for just over seven years, before he co-established Cadastral.
Dhesi also co-founded and was CTO of Stelo Labs/Village Computing Company for more than two years, which specialises in crypto transaction safety – his last role before co-creating Cadastral.
Legora’s acquisition of Cadastral marks its fourth asset purchase this year. Last month it agreed a deal to acquire Australia-based regulatory intelligence platform Graceview.
In April, it finalised a deal to purchase Swedish AI legal research start-up Qura, to incorporate its specialised search engine to allow in-depth semantic searches across millions of documents.
And earlier this year, it secured a deal to purchase Canadian agentic legal AI platform Walter AI, to expand its footprint in the Canadian market.
Legora’s momentum was also underscored last month by the extension of its Series D funding round which raised a further $50m at a $5.6bn valuation. The financing was led by NVIDIA’s venture capital arm NVentures and software firm Atlassian, along with venture capital firms Adams Street Partners, Airtree and Geodesic Capital.
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