Harvey raises $550 million at $15.5 billion valuation

Harvey said on September 9 that it had raised $550 million at a $15.5 billion valuation in a funding round co-led by Diffusion and Lightspeed Venture Partners, according to LawSites (Bob Ambrogi). Harvey said it would use the funding to help law firms, in-house legal teams and professional services build and own their intelligence.

Gabe Pereyra said Harvey had crossed $400 million in ARR and served 3,000 customers, including 80% of the top 100 law firms, 20% of the Fortune 500 and half of the Fortune 10.

Artificial Lawyer reported that Harvey had also bought San Francisco-based Guardrails AI. LawSites reported that other investors in the round included Sequoia, Kleiner Perkins, a16z and Coatue, and that Bob Ambrogi’s calculations put the total amount Harvey had raised since its 2022 launch at more than $1.5 billion.