Total amount raised
$506 Millions
Latest funding date
Location
Title
Harvey has successfully raised significant funding through multiple rounds, including a Series D, to support its AI-driven tools for legal professionals. The platform offers solutions like research assistance, document review, and contract analysis, leveraging natural language processing to interpret complex legal language.
Keep reading to explore the intricacies of Harvey's fundraising journey and the investors backing this innovative platform.
What Is Harvey?
Harvey, founded in January 2022 by Gabe Pereyra and Winston Weinberg, is based in San Francisco, California. The company specializes in AI-driven tools designed to assist legal professionals with tasks such as research, document review, and contract analysis.
With a team of 51-100 employees, Harvey leverages natural language processing to interpret complex legal language, providing valuable insights and streamlining legal work for law firms and corporate legal teams.
Harvey's solutions aim to save time and improve accuracy, making it a valuable asset for professionals in the legal sector.
How Much Funding Has Harvey Raised?
- Seed Round
- Amount Raised: $5M
- Date: November 2022
- Lead Investors: OpenAI Startup Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of AI-driven tools for legal professionals.
- Series A
- Amount Raised: $21M
- Date: April 2023
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series B
- Amount Raised: $80M
- Date: December 2023
- Lead Investors: Elad Gil, Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: $100M
- Date: July 2024
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and increase market penetration.
- Series D
- Amount Raised: $300M
- Date: February 2025
- Lead Investors: Sequoia Capital
- Valuation at Round: $3 billion
- Motivation Behind the Round: To further develop and expand AI legal assistant services.
Harvey has raised a total of $506M with a current valuation of $3 billion.
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a leading venture capital firm known for investing in early and growth-stage companies. It has a strong track record of backing successful startups.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Apple, Google, WhatsApp.
- Google Ventures (GV)
- Details: GV is the venture capital investment arm of Alphabet Inc. It focuses on funding innovative startups across various sectors.
- Investment Focus Areas: Technology, life sciences, frontier technology.
- Notable Investments: Uber, Nest, Slack.
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm specializing in early-stage and growth companies. It has a long history of successful investments in the tech industry.
- Investment Focus Areas: Technology, life sciences, cleantech.
- Notable Investments: Amazon, Google, Twitter.
- OpenAI Startup Fund
- Details: Managed by OpenAI, this fund supports startups working on AI technologies. It aims to foster innovation in artificial intelligence.
- Investment Focus Areas: Artificial intelligence, machine learning.
- Notable Investments: Various AI-focused startups.
- Elad Gil
- Details: Elad Gil is a prominent angel investor and entrepreneur. He has a reputation for backing successful technology startups.
- Investment Focus Areas: Technology startups, AI, biotech.
- Notable Investments: Airbnb, Stripe, Gusto.
What's Next for Harvey?
Harvey stands at the cusp of transforming the legal industry with its AI-driven solutions. The company has the potential to automate and simplify legal document management, a significant opportunity given the industry's global scale. With a $300 million Series D funding and a valuation of $3 billion, the market's confidence in Harvey's capabilities is evident.
As Harvey continues to innovate, future fundraising opportunities seem promising. The rapid growth and substantial investment suggest that the company will attract further funding to expand its market presence and enhance its technology. However, challenges such as regulatory hurdles and competition from other legal tech firms may arise, requiring continuous improvement and adaptation.
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