Legal AI startup Harvey in talks to raise $250M at $5B valuation
Legal tech startup Harvey is reportedly in advanced talks to raise over $250 million in fresh funding, a round that would boost its valuation to $5 billion. The round is expected to be led by prominent venture firms Kleiner Perkins and Coatue, with existing investor Sequoia Capital also likely to participate.
The funding discussions come just three months after Sequoia led Harvey’s $300 million Series D round, highlighting the intense investor interest in the company’s rapid rise and growing market traction.
Founded to transform the legal industry with generative AI tools, Harvey has quickly become a standout player in the legal tech sector. Its AI-powered platform is designed to assist law firms with tasks like legal research, document generation, and data analysis — areas traditionally bogged down by manual effort. In April, Harvey reportedly reached an annualized run-rate revenue of $75 million, underscoring the demand for AI solutions in the legal space.
The company recently announced that it would expand its use of AI models, incorporating technologies from Anthropic and Google, in addition to those it already employs from OpenAI — one of its early backers. The report did not clarify whether the OpenAI Startup Fund, which supported Harvey in its early stages, would participate in the upcoming round.
If finalized, the new investment would position Harvey among the most valuable generative AI startups globally and reinforce a growing belief among investors that the legal sector is ripe for disruption through AI.
