Legal AI firm Harvey reaches $15.5B valuation
Legal AI startup Harvey has raised $550 million in a new funding round at a $15.5 billion valuation, nearly doubling its worth in about nine months.
Legal technology company Harvey announced on Wednesday that it has closed a new funding round, raising $550 million at a valuation of $15.5 billion. The round was co-led by investment firms Diffusion and Lightspeed Venture Partners.
This marks another rapid jump in the company's valuation. In March, Harvey raised $200 million at an $11 billion valuation, following an $8 billion valuation from a round in December. In roughly nine months, the company's valuation has nearly doubled, and its total funding raised now exceeds $1.55 billion.
Multiple rounds since 2023
Like data analytics company Databricks, Harvey has not officially named its latest round, but research firm Pitchbook estimates the company has completed at least eight priced funding rounds since 2023, five of them since 2025. Since some of those were considered extension rounds, the latest one could be classified as a Series F round.
The new funding comes just weeks after Harvey unveiled its first in-house AI model, Harvey Tenet. The model is built on the open-weight model Kimi K3 and further trained on legal data with help from inference provider Fireworks, which previously assisted Cursor in developing its own model.
Beyond offering its own model, Harvey is also encouraging its customers to adopt and further train their own open-weight models. This positions the legal industry as an example of how businesses can make heavy use of artificial intelligence while remaining independent from major proprietary AI labs such as OpenAI and Anthropic.
