Harvey In Talks For $11B Valuation Funding Round

Legal AI startup Harvey is in talks to raise $200 million at a $11 billion valuation, led by Sequoia Capital and GIC.

Harvey, founded in 2022, develops AI software that helps lawyers and law firms draft documents, review filings, and summarize case materials. The new funding round comes after the company reported reaching $190 million in annual recurring revenue by the end of 2025 and serving over 1,000 customers, including major law firms where approximately 100,000 lawyers use its technology.

This rapid valuation increase marks Harvey's fourth funding round in 2025 alone. The startup has now raised $1.2 billion in total capital. The deal would value Harvey at nearly 60 times its annual recurring revenue, reflecting investor confidence in legal AI despite increasing competition from both startups and established software providers.

Revenue Growth

Harvey reached $190 million in annual recurring revenue by the end of 2025, according to CEO Winston Weinberg's LinkedIn post. The company serves more than 1,000 customers, including large law firms like O'Melveny, A&O Shearman, and Latham & Watkins.

The startup has expanded beyond traditional law firms. Corporate legal departments at companies like Comcast and Verizon now use Harvey's platform for compliance reviews and internal legal processes.

Technology Platform

Harvey's software is built on large language models from OpenAI, Anthropic, and Google. The company fine-tunes these models using proprietary legal data, statutes, regulations, and global case law.

The platform helps lawyers sort through documents, draft legal filings, review contracts, and answer legal questions. Users access these capabilities through Harvey's interface layer built on top of the underlying AI models.

Competitive Landscape

Swedish startup Legora reached a $1.8 billion valuation in October 2025. Other competitors target specific legal niches, including EvenUp for personal injury lawyers, Finch for paralegals, and Supio for plaintiff law.

AI model providers are also entering the legal space directly. Anthropic launched a "legal plugin" in February 2026 to help users with legal tasks. These model makers supply the underlying technology that powers startups like Harvey while simultaneously developing competing products.

Funding History

Harvey raised $160 million in December 2025 at an $8 billion valuation. The company completed three funding rounds during 2025, including a $300 million Series E at a $5 billion valuation and a $50 million round led by EQT Growth.

Investors in Harvey include Andreessen Horowitz, WndrCo, Kleiner Perkins, Conviction, and Elad Gil. The startup appeared on Forbes' AI 50 list since 2023 and was featured on the Forbes Next Billion-Dollar Startups list that year.

Leadership Team

The company was founded by Winston Weinberg and Gabe Pereyra. Weinberg was a junior lawyer at O'Melveny & Myers when he started Harvey. Pereyra previously worked as a research scientist at Google DeepMind.

Weinberg was featured on the Forbes 30 Under 30 list in 2024. The startup is named after Harvey Specter, a character from the television show Suits.

About Harvey

Harvey is a legal AI software company founded in 2022. The company develops tools for lawyers and law firms to automate document review, drafting, and legal research. Harvey's platform serves approximately 100,000 lawyers across more than 1,000 customer organizations, including major law firms and corporate legal departments.

Read more about Harvey here:

Harvey AI

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