Legal AI start-up Harvey raises $550m at $15.5bn valuation
- On Wednesday, Harvey raised $550m at a $15.6bn valuation in a round co-led by Lightspeed Venture Partners and Diffusion, while acquiring San Francisco-based Guardrails, an AI security platform for legal agents.
- Annual recurring revenue has passed $400mn while the customer base grew to more than 3,000 organisations, marking a 42% valuation increase since March when Harvey was valued at $11bn.
- Harvey recently unveiled Harvey Tenet, its first post-trained open-weight model built using Kimi from Moonshot, and routes tasks to the cheapest model capable of handling them rather than using one for every request.
- Co-Founders Winston Weinberg and Gabe Pereyra plan to hire strong teams and develop the best talent in the space, as Harvey faces rising competition from Anthropic and OpenAI entering legal AI.
- Sebastian Duesterhoeft of Lightspeed, joining Harvey's board as observer, noted that in-house legal departments represent the largest market opportunity, positioning the company as a global legal partner with over $1.5bn raised.
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This new investment raises the company's valuation to $15.5 billion, in an operation led by Diffusion and Lightspeed Venture Partners.
Legal AI startup Harvey raises $550M at $15.6B valuation as revenue tops $400M - Tech Startups
Legal AI startup Harvey has raised $550 million at a $15.6 billion valuation, capping a remarkable six-month run that has seen its valuation jump more than 40% as annual recurring revenue climbed past $400 million. The round was co-led by […] The post Legal AI startup Harvey raises $550M at $15.6B valuation as revenue tops $400M first appeared on Tech Startups.
Harvey closes a $550M round at a $15.6bn valuation and acquires Guardrails AI
Harvey has closed a $550mn funding round at a $15.6bn valuation, slightly above the terms we reported it was seeking in August. The company has also acquired AI agent security startup Guardrails AI this week. The round was reported on Wednesday, and it was co-led by Lightspeed Venture Partners and Diffusion, a new firm co-founded […] This story continues at The Next Web
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