Legal AI startup Harvey reportedly raising $500M at $15.5B valuation
Harvey AI Corp., a provider of artificial intelligence software for attorneys, is reportedly seeking at least $500 million in new funding.
The Information today cited sources as saying that the round could value the startup at $15.5 billion. That’s a $4.5 billion increase over what Harvey was worth in March, when it closed its previous $200 million raise.
The valuation jump appears to be tied to the company’s revenue growth. According to The Information, Harvey recently passes the $350 million annualized revenue mark. That number reportedly stood at $190 million in January.
The report didn’t name the potential participants in the investment, but late-stage rounds almost always include contributions from returning backers. Harvey’s March round was backed by Sequoia, Coatue and other high-profile venture capital firms.
