Harvey confirms $11 billion valuation as Sequoia triples down on legal AI startup

Harvey confirms $11B valuation: Sequoia triples down | TechCrunch

One of the blockbuster hits of the AI age is, without a doubt, legal tech startup Harvey. On Wednesday, the company confirmed that it had closed a new raise at an $11 billion valuation, after reports circulated last month that it was working on another monster round. The company confirmed it inhaled $200 million from this round, co-led by returning investors Singapore's GIC and Sequoia. Existing investors Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Evantic, and Kleiner Perkins also participated. With this new funding, the company has raised more than $1 billion in total, and its valuation jumped over 3.5x in a year. Harvey was valued at $8 billion from a round announced in December, led by Andreessen Horowitz. Before that, it was valued at $5 billion from a round led by Kleiner Perkins and Coatue, announced in June, and was at $3 billion from a Sequoia-led raise announced in February 2025. Sequoia has now co-led three of its rounds since its Series A, a move even Sequoia partner Pat Grady acknowledged was an unusually large show of faith for the VC firm, Grady said in the press release. A few months ago, founder and CEO Winston Weinberg described to TechCrunch EIC what a wild ride it's been.

Legal software firm Harvey valued at $11 billion in latest funding round

March 25 (Reuters) - Legal software firm Harvey has raised $200 million at an $11 billion valuation and will use some of the funds to expand its artificial intelligence agent as investor appetite for AI tools accelerates. AI agents, which plan, decide and act autonomously, have become venture capital's most sought-after bet as professional services companies focus on streamlining offerings and improving efficiency. Harvey's latest round, which brings its total funding to ⁠more than $1 billion, was co-led by returning investors GIC and Sequoia, with participation from existing backers including Andreessen Horowitz and Coatue, among others, the company said on Wednesday. San Francisco-based Harvey develops legal AI tools for law firms and corporate legal departments, helping automate complex legal workflows such as contract analysis, due diligence, compliance and litigation. The fresh capital will be used to expand its AI ⁠agent and grow its legal engineering teams, the company said. "AI isn't just assisting lawyers. It's becoming the system through which legal work gets done," said Winston Weinberg, CEO and co-founder of Harvey. "The law firms and ⁠in-house teams leading the way are building agents that execute complex workflows so lawyers can focus on judgment, strategy and outcomes." The legal AI market ⁠is in the midst of a funding frenzy, with rivals Clio raising $500 million and Eve raising $103 million last year. In December, Harvey had ⁠raised $160 million at an $8 billion valuation in a Series F round led by Andreessen Horowitz. Reporting by Pragyan Kalita and Prakhar Srivastava in Bengaluru; Editing by Sahal Muhammed and Jonathan Ananda Our Standards: The Thomson Reuters Trust Principles., opens new tab

Legal AI startup Harvey valued at $11 billion in funding round, as VCs spread bets beyond model companies

With OpenAI and Anthropic soaring to a combined valuation of more than $1 trillion, some in the artificial intelligence industry fear that the two big model companies are sucking up so much of the value that there won't be much left for other startups. Harvey would like a word. On Wednesday, the legal AI company announced it's raised $200 million in fresh capital at a valuation of $11 billion. The company is among a growing crop of startups focused on deploying the latest AI technology in specialized and complex markets. Founded in 2022, Harvey offers AI tools for legal and professional services that can streamline contract analysis, compliance, due diligence and litigation. The company's products are used by more than 100,000 lawyers across 1,300 organizations, according to a release. Singapore's GIC and Sequoia led the financing, which closed just months after Harvey raised funds at an $8 billion valuation in December. Sequoia has now led three of Harvey's funding rounds, "the ultimate sign of conviction," according to Pat Grady, a partner at the venture firm. "They sort of wrote the playbook for what it means to be an AI-native application company, which is the same thing Salesforce did back in the day with the cloud transition," Grady told CNBC in an interview. Grady said that because model capabilities are improving so quickly, trying to apply them in real-world situations is a bigger undertaking than it has been for software companies in the past. There's a lot of craft, taste and judgment that goes into determining how to use AI to achieve a particular job, he said. Harvey CEO Winston Weinberg is a former lawyer who co-founded the startup with Gabe Pereyra, a former research scientist at Google DeepMind and Meta. The pair launched the company after experimenting with OpenAI's GPT-3 model, which came out before ChatGPT. Clients include global law firms and large enterprises like NBCUniversal and HSBC. The company hit $190 million in annual recurring revenue in January, up from the $100 million figure it announced in August. It also earned a spot on CNBC's 2025 Disruptor 50 list. Harvey becomes the latest AI startup to cross the $10 billion valuation mark. In addition to OpenAI and Anthropic, that list includes Perplexity and Bret Taylor's Sierra, among others. Weinberg said Harvey doesn't pay much attention to those milestones. "I think any company right now, the worst mistake you can possibly do is become complacent, because how you build a company is completely changing," Weinberg said in an interview. "The companies that succeed are going to be the ones that are relentlessly adapting." Weinberg said Harvey will use the fresh capital to expand its AI agents, which are tools that can independently complete tasks on a user's behalf. The company will also grow its embedded legal engineering teams around the world.

AI legal-tech Harvey officially opens Dublin office, plans 40 jobs

The opening comes just days after Harvey announced it had raised $200m at a valuation of $11bn, Harvey, the legal infrastructure start-up for law firms and in-house teams, today officially opened its Dublin office on Sir John Rogerson's Quay. The company plans to grow its Dublin team to more than 40 employees over the next two years, it says. Harvey had announced the establishment of a Dublin office back in January with 20 roles coming in its first year. Now the fast growing legal tech start-up says it plans to raise that number to 40 over the next two years. It is currently actively hiring for legal and sales roles in Dublin. Just last week, Harvey announced it had raised $200m at a valuation of $11bn, and said the funds would be used to further develop the company's AI agents for legal firms and in-house legal departments, and grow the engineering teams that support them. The funding round was co-led by returning investors GIC and Sequoia, with participation from existing investors Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Evantic and Kleiner Perkins. Harvey's platform uses AI agents to reduce manual effort for lawyers by running complete workflows for high-volume and increasingly complex tasks, according to the company, which has now raised more than $1bn to date. "Today marks an important milestone in our European growth," said Winston Weinberg, CEO and co-founder of Harvey. "We're proud to partner with many of Ireland's leading firms and enterprises, and establishing a permanent presence in Dublin allows us to deepen those relationships while continuing to scale across EMEA. Ireland's strong technology ecosystem and access to exceptional talent make it the right place for us to invest for the long term." "Dublin has a deep pool of experienced, internationally minded professionals, across key operational functions," said Katie Burke, Chief Operating Officer at Harvey, and former chief people officer at Hubspot. "Having previously built teams here, I've seen the quality of talent firsthand. As we expand our operational footprint in EMEA, Ireland provides the expertise and infrastructure to help us scale effectively and sustainably." Minister for Enterprise, Tourism and Employment Peter Burke TD welcomed the opening, saying it highlights Ireland's growing influence in the global AI space. "This investment reflects the momentum within Ireland's AI ecosystem and the significant opportunity it presents for high-value job creation and innovation," he said "AI is a key focus area for IDA Ireland and this decision by Harvey highlights Ireland's strengths as a location for investment in innovative technology," said Michael Lohan, CEO of IDA Ireland. The legal tech sector is one that is growing ever more competitive. Canadian AI legal-tech Clio officially opened its new office in Dublin's Docklands in November, having had a base in Ireland since 2013. It had just days before announced a $500m raise. Clio plans to expand its Dublin team from 60 to more than 100 employees, adding new roles across research and development, AI innovation and go-to-market functions, the company said. Norwegian software company Newcode will also open a Dublin office after raising more than $6.5m last week, adding to its existing locations in the US and Europe. And last November, Ireland and UK-based company TrialView secured $4.1m in a growth funding round led by Elkstone Ventures. Don't miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic's digest of need-to-know sci-tech news.

Legal-tech start-up Harvey valued at $11bn after new raise of $200m

Harvey's platform uses AI agents to reduce manual effort for lawyers by running complete workflows for high-volume and increasingly complex tasks. AI legal-tech start-up Harvey has raised $200m at a valuation of $11bn. The new funds will be used to further develop the company's AI agents for legal firms and in-house legal departments, and grow the engineering teams that support them. The funding round was co-led by returning investors GIC and Sequoia, with participation from existing investors Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Evantic and Kleiner Perkins. Harvey's platform uses AI agents to reduce manual effort for lawyers by running complete workflows for high-volume and increasingly complex tasks, according to the company, which has now raised more than $1bn to date. "AI isn't just assisting lawyers. It's becoming the system through which legal work gets done," said Winston Weinberg, CEO and co-founder of Harvey. "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." The company said it runs more than 25,000 custom agents executing work in fields such as contracts, compliance, litigation, due diligence, and mergers and acquisitions. "Harvey has become the platform on which legal work runs," said Pat Grady, partner at Sequoia. "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." Harvey was founded in 2022 and is based in San Francisco. It claims more than 1,300 customers - including "global law firms and Fortune 500 enterprises" - in more than 60 countries around the world. In January, Harvey began hiring for roles at a new Dublin office. At the end of last year, the company was valued at $8bn. The legal-tech start-up sector is a lively one at the moment. Two weeks ago, Swedish player Legora announced a Series D raise of $550m, bringing the company's valuation to $5.55bn. Last November, Canadian company Clio closed a $500m Series G funding round, taking it to a $5bn valuation, and also unveiled its plans for an office in Dublin. Norwegian software company Newcode will also open a Dublin office after raising more than $6.5m this week, adding to its existing locations in the US and Europe. And last November, Ireland and UK-based company TrialView secured $4.1m in a growth funding round led by Elkstone Ventures. Don't miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Silicon Republic's digest of need-to-know sci-tech news.

Legal AI startup Harvey raises $200 million at $11 billion valuation - The Economic Times

Legal software company Harvey has secured $200 million in funding, valuing the firm at $11 billion. This investment will fuel the expansion of its artificial intelligence agent. Harvey develops AI tools for law firms and corporate legal departments, automating complex legal tasks. The company's CEO highlights AI's growing role in legal work.Legal software firm Harvey has raised $200 million at an $11 billion valuation and will use some of the funds to expand its artificial intelligence agent as investor appetite for AI tools accelerates. AI agents, which plan, decide and act autonomously, have become venture capital's ⁠most sought-after ⁠bet as professional services companies focus on streamlining offerings and improving efficiency. Harvey's latest round, which brings its total funding to more than $1 billion, was co-led by returning investors GIC and Sequoia, with participation from existing backers including Andreessen Horowitz and Coatue, among others, the company ⁠said on Wednesday. San Francisco-based Harvey develops legal AI tools for law firms and corporate legal departments, helping automate ⁠complex legal workflows such as contract analysis, due diligence, compliance and litigation. The fresh capital will be used to expand its AI agent and grow its legal engineering teams, the company said. "AI isn't just assisting lawyers. It's becoming the system through which legal work gets done," said Winston Weinberg, CEO and co-founder of Harvey. "The law firms and in-house teams leading the way are building agents that execute complex workflows so lawyers ⁠can focus on judgment, strategy and outcomes." The legal AI market is in the midst of a funding frenzy, with rivals Clio raising $500 million and Eve raising $103 million last year. In December, Harvey had raised $160 million at an $8 billion valuation in a Series F round led by Andreessen Horowitz.