Legal AI platform Harvey has raised $200m in its latest funding round, valuing the business at $11bn.
The round was co-led by Singapore sovereign wealth fund GIC and venture capital firm Sequoia, alongside several other existing investors including private equity firms Andreessen Horowitz, Coatue, Conviction Partners, Evantic and Kleiner Perkins, and angel investor Elad Gil.
Harvey said it will use the capital to expand the scope of its AI agents and grow its legal engineering teams.
Winston Weinberg, CEO and co-founder of Harvey, said: “AI isn’t just assisting lawyers. It’s becoming the system through which legal work gets done. The law firms and in-house teams leading the way are building agents that execute complex workflows so lawyers can focus on judgement, strategy and outcomes.”
Pat Grady, a partner at Sequoia, said it is a rare occurrence for the firm to co-lead a funding round three times for the same company, underscoring that its conviction in Harvey has “grown stronger” since it first invested in the Series A round back in 2023.
He added: “More than 100,000 lawyers around the world run their most critical work on Harvey, and we believe it’s positioned to become one of the most important companies of the next decade.”
In December last year, Harvey raised $160m in a Series F funding round reaching a valuation of $8bn. It was led by Andreessen Horowitz along with Sequoia, Kleiner Perkins, Conviction and Elad Gil.
Earlier this week, Harvey expanded its executive ranks with the hire of Gibson Dunn’s former AI practice group co-chair Keith Enright, who joined as chief strategy officer.
Last week, the company also announced the launch of its inaugural in-house customer advisory board, with founding members including legal heads from HSBC Holdings, NBCUniversal and Dentsu Group, among others. The board is designed to provide strategic guidance on the firm’s products and discuss where AI can advance the legal industry.
Harvey is also planning to open a Singapore office in June, its third base in the APAC region. It also opened in Dublin this month and plans to open in Paris in the second quarter, overall expanding its global footprint to 14 locations.
Email your news and story ideas to: [email protected]
