Insider Brief
- Harvey raised $100M in Series C funding led by GV, with participation from OpenAI, Kleiner Perkins, Sequoia Capital, Elad Gil, and SV Angel, valuing the company at $1.5B.
- The funding will enhance Harvey’s AI-powered platform for professional services, focusing on engineering, data, and domain expertise to build and train domain-specific models.
- Harvey has tripled its ARR and doubled its headcount in the past year, and aims to expand its team and deepen partnerships with cloud and model providers to improve and integrate AI models.
PRESS RELEASE — SAN FRANCISCO/July 23, 2024 — Harvey has announced its Series C funding round, led by GV (Google Ventures) with participation from OpenAI, Kleiner Perkins, Sequoia Capital, Elad Gil, and SV Angel. This $100M investment at a $1.5B valuation will enable Harvey to continue scaling and improving its AI-powered technology across business functions and geographies.
As Harvey marks its two-year anniversary, the platform is used daily by tens of thousands of lawyers at major law firms, professional service providers, enterprises, and governments worldwide. Since the last fundraising round in December, Harvey has tripled its ARR and doubled its employee headcount. The diversity of professional service providers finding value in the platform and the breadth of problems being solved using Harvey has been encouraging.
The Series C funding will enable Harvey to continue building the most trusted AI platform for professional services globally. The mission is to help all clients solve their challenges by making the platform more powerful, transparent, customizable, and secure. The new capital will be used to invest in engineering, data, and domain expertise, fundamental to building AI-native systems for complex knowledge work. Over the next 12 months, Harvey will collect and curate the data needed to build and train domain-specific models while growing the team by headcount and location to serve clients worldwide.
Harvey will also deepen partnerships with both cloud and model providers to integrate additional models into the platform and broaden training collaborations to improve model efficacy. These advancements will be combined with a growing set of products and integrations to deliver models more effectively for clients and their workflows.
Feedback from clients, validation from investors, and support from the team give immense confidence in Harvey’s potential to be a pioneer of the greatest technology of this generation and a catalyst for more effective decision-making in professional services. Pushing the frontier of the world’s progress remains the ultimate goal.
Harvey expresses gratitude to everyone involved in its journey so far and appreciates their support and dedication.
