Harvey hits $15.5B valuation, months after reaching $11B

Harvey, the legal AI startup, has recently increased its valuation to $15.5 billion following another $550 million in funding, the company announced on Wednesday. This latest round was co-led by Diffusion and Lightspeed Venture Partners, following a previous $200 million round at an $11 billion valuation in March. The company had already reached an $8 billion valuation in December after raising over $1.55 billion in total.

This period has seen the company nearly double its valuation in approximately nine months. While the round was not named by Harvey, it is estimated to be a Series F. The fresh capital follows the company's announcement of its first in-house model, Harvey Tenet, which was built using the open-weight model Kimi K3 and post-trained with legal data.

Harvey is encouraging its customers to adopt and post-train their own open-weight models, indicating its belief in the potential of the entire industry to utilize AI effectively while avoiding reliance on proprietary AI labs like OpenAI and Anthropic.