Introduction Of Harvey
Harvey, the fast-rising legal tech startup, is reportedly in talks to raise over $250 million in fresh funding that would push its valuation to a hefty $5 billion, according to Reuters. The round is expected to be led by prominent VC firms Kleiner Perkins and Coatue.
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Sequoia Capital — which just led It’s $300 million Series D three months ago — is also expected to double down in this upcoming round. Sources say the firm’s explosive growth is what’s catching investor attention.
It has been on a tear lately, as law firms and legal departments increasingly lean into generative AI to streamline everything from legal research and document drafting to data analysis. As of April, the company was reportedly generating $75 million in annualized revenue, per Reuters.
Just this week, Harvey announced it would expand its tech stack to include AI models from Anthropic and Google, building on its existing partnership with OpenAI — one of its early backers.
No word yet on whether the OpenAI Startup Fund will participate in this new round. All four companies named — It, Coatue, Sequoia, and Kleiner Perkins — declined to comment when contacted by Reuters.
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