Quick Facts
- Harvey raised $200 million at an $11 billion valuation, tripling from $3 billion in February 2025
- The company reached $190 million in annual recurring revenue in January, nearly doubling from $100 million in August
- More than 100,000 lawyers across 1,300 organizations use Harvey’s AI platform
Harvey confirmed a $200 million funding round at an $11 billion valuation on March 25, making it the most valuable legal AI startup in the world. Singapore’s GIC and Sequoia Capital co-led the round, with participation from Andreessen Horowitz, Coatue, and other existing investors.
The valuation represents explosive growth over 13 months. Harvey was worth $3 billion in February 2025, $8 billion in December 2025, and now $11 billion. The company has raised more than $1 billion in total funding.
Harvey’s revenue growth matches its valuation surge. The startup hit $190 million in annual recurring revenue in January, up from $100 million in August. That represents nearly double the contracted revenue in less than six months.
The platform serves more than 100,000 lawyers across 1,300 organizations, including the majority of the AmLaw 100, over 500 in-house legal teams, and 50 asset management firms. Clients include NBCUniversal and HSBC.
More than 25,000 custom AI agents operate on Harvey’s platform, handling tasks across mergers and acquisitions, due diligence, contract drafting, and document review. Customers deploy long-horizon agents that manage multi-step workflows over extended periods for complex use cases like fund formation.
“AI isn’t just assisting lawyers. It’s becoming the system through which legal work gets done,” said Winston Weinberg, Harvey’s CEO and co-founder.
Sequoia Capital has now led three Harvey funding rounds. “Harvey has become the platform on which legal work runs,” said Pat Grady, partner at Sequoia. “Co-leading three rounds in the same company is rare for Sequoia and reflects conviction that has only grown stronger since we first partnered at the Series A.”
Harvey will use the fresh capital to expand its AI agents and grow its embedded legal engineering teams globally. The legal services market represents nearly $900 billion in global spending, though the industry has been historically slow to change.
Competition in legal AI is intensifying. Thomson Reuters launched CoCounsel, LexisNexis offers Lexis+ AI, and dozens of startups are targeting pieces of the market. The legal industry faces a profitability crisis as clients push back on billable hour inflation while associate salaries climb.
Harvey joins a select group of AI startups crossing the $10 billion valuation mark, including OpenAI, Anthropic, Perplexity, and Bret Taylor’s Sierra. The round shows investor conviction that real AI value lies in deploying models to solve specific industry problems rather than building foundation models.
Read more: Harvey confirms $11B valuation: Sequoia triples down