Harvey, the rising legal tech startup, is reportedly in talks to raise over $250 million at a $5 billion valuation. Leading the round are top-tier investors Kleiner Perkins and Coatue, according to sources quoted by Reuters. Sequoia Capital, which led Harvey’s $300 million Series D just three months ago, is also expected to join the round.
This wave of investor interest reflects Harvey’s rapid growth. Law firms worldwide are adopting the platform to streamline legal research, draft documents faster, and extract insights from large datasets using generative AI. By April, Harvey had already reached a $75 million annualized revenue run rate.
The company is also strengthening its AI engine. It recently added models from Anthropic and Google to complement those it already uses from OpenAI. While OpenAI’s Startup Fund backed Harvey early on, it’s unclear if the fund will join this round.
Harvey’s decision to include multiple AI providers shows a strategic move. It reduces reliance on a single partner while improving model performance across different legal tasks.
Although the company hasn’t commented publicly, the reported raise suggests it plans to accelerate hiring, product development, and global expansion. Investors are betting big on AI transforming the legal industry—and Harvey is at the center of that shift.
Legal professionals are now embracing tools like Harvey to handle routine work. Tasks that once took hours—like document review or legal summaries—can now be done in minutes. As firms push to improve efficiency and cut costs, AI is becoming essential.
With this funding, Harvey could become one of the most valuable startups in legal AI. And it’s part of a bigger story: the future of law is being rewritten by machines.
