Harvey has closed a $550mn funding round at a $15.6bn valuation, slightly above the terms we reported it was seeking in August. The company has also acquired AI agent security startup Guardrails AI this week.
The round was reported on Wednesday, and it was co-led by Lightspeed Venture Partners and Diffusion, a new firm co-founded by Kris Fredrickson, a longtime Harvey backer who previously invested through Coatue Management.
Sapphire Ventures and Whale Rock Capital Management also joined the round, alongside existing investors.
Harvey has now raised more than $1.5bn, making it the most valuable and best-funded company in legal AI.
The business has grown quickly enough to support the numbers. Annual recurring revenue has passed $400mn, while the customer base has grown to more than 3,000 organisations.
