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Stock impact report

Harvey's $8 billion question: How much money does it actually save lawyers? [Business Insider]

National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NGG) 
US:NYSE Investor Relations: investors.nationalgrid.com
Have an account? Log in Legal tech startup Harvey has raised $760 million this year, reaching an $8 billion valuation. Harvey has been widely adopted by law firms, and lawyers say it helps them deliver work faster. Now the startup needs to prove it can boost law firms' profits. Legal tech startup Harvey this year has bagged $760 million in funding and soared to a valuation of $8 billion. Now it needs to prove that it can actually boost profits for the law firms that pay for its services. Harvey, which on Thursday announced the close of a $160 million funding round, says its products free lawyers from drudge work so they can spend more time on strategy and client counseling. But at this point, Harvey's ROI shows up in feelings more than spreadsheets. Law firms want the payoff to show up on financial reports and client bills, says Zach Abramowitz, a former lawyer turned technology consultant for the legal field. Right now, he says, the payoff "inures first and foremost to t Show less Read more
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