Harvey is the latest legal tech startup to announce a funding raise
AI-powered legal tech startup Harvey has secured $100 million in Series C funding led by GV, reaching a $1.5 billion valuation, and plans to use the investment to enhance its platform and expand globally in the professional services sector.
Harvey recently announced it raised a $100 million Series C led by GV (Google Ventures) and supported by several remarkable investors, including OpenAI, Kleiner Perkins, Sequoia Capital, Elad Gil, and SV Angel. Harvey has raised over $200 million in funding and is now valued at $1.5 billion. The company plans to direct the funds into growing and improving its technologies to cover more use cases and legal practices in additional parts of the world by investing in engineering, data, and expertise to build the domain-specific models powering the platform.
Harvey has seen outstanding growth in the two years since its inception; the platform has become an indispensable tool for tens of thousands of lawyers worldwide, serving top law firms, enterprises, and governments. More precisely, Harvey has tripled its annual run rate (ARR) and has doubled its workforce since it raised its $80 million Series B in December.
Harvey's long-term goal is to stand out as the most trusted AI platform for professional services worldwide. To achieve this, the company continuously looks to enhance the platform's power, transparency, customizability, and security. In the next 12 months, the company will supplement its efforts to improve its technology by growing the team's headcount and expanding its presence to more locations. Harvey also plans to deepen partnerships with cloud and model providers as it builds industry-leading AI-powered software that supports complex legal knowledge work.
