Source: Silicon Angle
Harvey, a developer of artificial intelligence software for legal professionals, announced that it has raised $300 million in a new late-stage funding.
The Series E investment was led by Kleiner Perkins and Coatue. They were joined by more than a half-dozen other backers, including Alphabet Inc.’s GV investment arm, the Open AI Startup Fund and Sequoia. The funding round values Harvey at $5 billion, up from $2 billion following its previous raise earlier this year.
Harvey, officially Counsel AI, develops AI tools that promise to make legal teams more productive. The company says that its platform is used by more than 330 law firms and other organizations in 50-plus countries. Harvey reportedly generated $75 million in annualized recurring revenue from those customers as of April, up from $50 million a few months earlier.
Attorneys often start the process of drafting a new legal document by researching relevant laws and court decisions. Harvey’s flagship AI tool, Harvey Assistant, can automate the task. It enables legal teams to aggregate information from court filings and other sources using natural language prompts. The tool includes citations in its prompt responses to help legal teams verify the accuracy of the output.
Complex legal agreements often go through dozens of revisions before they’re finalized. Attorneys indicate that a section should be deleted or modified with a red strikethrough, which is why the editing process is commonly known as redlining. Harvey says that its platform can automatically summarize such document changes to streamline the revision management process for users.
Read the full article: https://siliconangle.com/2025/06/23/harvey-raises-300m-funding-legal-ai-assistant/
