Legal AI startup Harvey confirms $8B valuation [TechCrunch]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: TechCrunch
This latest capital infusion came just months after it raised a $300 million in a Series E round at a $5 billion valuation in June. And that was just months after raising a Sequoia-led $300 million Series D at a $3 billion valuation in February. Harvey's investors include EQT, WndrCo, Sequoia, Kleiner Perkins, Sarah Guo's Conviction, and Elad Gil. In September, just before raising this latest mega round, Harvey released some details about its business. While it declined to share any absolute numbers, just percentages of growth and retention (it later told TechCrunch that it surpassed $100 million in annual recurring revenue back in August), it said that it counts 50 of the top AmLaw 100 firms as its customers. It also serves corporate legal teams. As an industry entirely based on words, it makes sense that legal functions would be a perfect use case for LLMs: searching, summarizing, and drafting, all based on domain-specific training. But Harvey is also one of the best examples o
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