Legal AI and AI infrastructure continue to command multibillion-dollar private valuations, with yet another company gearing up for a 2026 IPO.

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Legora In Talks to Raise $400 Million at a Valuation Exceeding $5 Billion
Legora is a legal AI software company (founded 2023) building tools to help lawyers save time on repetitive tasks such as document review, contract drafting and research, including integrations into Microsoft Word. The company is reportedly in discussions to raise $400 million at a valuation above $5 billion, with Accel said to be participating, though the deal is not final and terms could change. If completed, this would be Legora’s third financing in roughly six months, following prior rounds reported at a $675 million valuation in September and a $1.8 billion valuation in October. Legora is an underlying asset of VenCap 6, VenCap 13B and VenCap 15.

Temporal Raises $300 Million at a $5 Billion Valuation
Temporal develops open-source software and a cloud service focused on “durable execution”, enabling applications to resume after failures without engineers writing bespoke recovery logic. The company raised $300 million at a $5 billion valuation, which it said doubles the $2.5 billion valuation referenced after an October secondary financing round. Management positioned the platform as increasingly important as AI systems move from generating responses to executing longer-running workflows where reliability becomes a gating factor. Temporal is an underlying asset of VenCap 6 and VenCap 16.

Hungryroot Prepares for Potential IPO; 2025 Net Revenue $700 Million
Hungryroot operates a subscription app for ordering healthy groceries and meal-focused bundles, and it also sells its own private-label products. The company is preparing for an IPO that could take place as soon as this year, according to a person familiar with the plans, and it reported net revenue growth of 55% to $700 million in 2025 while being currently profitable. Management also noted it is testing a conversational feature to let users adjust orders in natural language, reflecting shifting consumer interfaces. Hungryroot is an underlying asset of VenCap 6, VenCap 10A and VenCap 13A.

Mesh Optical Technologies Raises $50 Million to Scale Optical Transceivers for Data Centres
Mesh Optical Technologies is developing optical transceivers that move data at high speeds within data centres, an increasingly critical requirement for AI training and inference workloads. The company raised $50 million to scale manufacturing in the US and said it aims to build the “largest optical manufacturing footprint outside of Asia” by 2027. Mesh recently emerged from stealth and is positioning its first product (Alpha C1) as faster, more power-efficient and lower latency than existing optical transceivers. Mesh Optical Technologies is an underlying asset of VenCap 16, VenCap 17 and VenCap 18.