Harvey has raised $550 million at a $15.5 billion valuation in a round co-led by Diffusion and Lightspeed Venture Partners. The funding follows the company’s introduction of its first post-trained open-weight model and the launch of Harvey LAB, a Legal Agent Benchmark, and will support its efforts to help law firms, in-house legal teams, and professional services firms build and control their own AI capabilities at scale.
Existing investors including Sequoia, Kleiner Perkins, a16z, Coatue, Conviction, Elad Gil, Evantic, GIC, Goldman Sachs Alternatives, Verified Capital, and WNDR participated in the round, joined by new backers Sapphire Ventures and Whale Rock.
Harvey co-founders Winston Weinberg and Gabe Pereyra said the opportunity for companies to gain competitive advantage through AI has never been greater, and that Harvey aims to become the primary partner legal teams rely on for this work. They added that the company plans to expand its team to support clients through the next phase of AI adoption in the legal industry.
The company said 80% of Am Law 100 law firms currently use Harvey, alongside numerous leading in-house legal departments, including five of the Fortune 10, underscoring its position as a major player in the growing market for AI tools tailored to legal work.
