Sources: legal AI startup Harvey is in talks to raise $500M+ at a $15.5B valuation, up from $11B in March, and is generating $350M+ in annualized revenue (The Information)
Legal AI startup Harvey is in talks to raise at least $500 million at a $15.5 billion valuation including the investment, a 40% premium to its last valuation five months ago.
Legal AI startup Harvey is in talks to raise at least $500 million in new funding. The round could value the startup at $15.5 billion, a 40% increase from its valuation in March of $11 billion.
According to The Information, Harvey's annualized revenue has surpassed $350 million. This marks significant growth from January when revenue stood at $190 million, as reported by SiliconANGLE.
Harvey's AI platform offers tools for attorneys to automate repetitive tasks, including a search tool to find relevant regulations and precedents, and an AI drafting tool to turn data into documents such as contracts. The company's previous funding round in March was backed by investors including Sequoia and Coatue, SiliconANGLE reported.
Brief written by urgent.news from Techmeme, SiliconANGLE — 2 reports on this story. Machine-written — it may contain errors, so check the original before relying on it.
