Harvey Raises $300M, Hits $5B Valuation for Legal AI

Harvey, an AI platform for law firms, raised $300 million in Series E funding, reaching a $5 billion valuation. Led by Kleiner Perkins and Coatue, with Sequoia and OpenAI Startup Fund among investors, Harvey serves 337 clients in 53 countries, including Paul, Weiss, KKR, and PwC.

It’s AI, powered by models like ChatGPT and Claude, handles contract analysis, legal research, and document drafting.

Harvey plans to double its 340-person staff and expand into areas like tax accounting. CEO Winston Weinberg, a former lawyer, says AI boosts lawyer efficiency despite billable hour concerns.

Outpacing competitors like Ironclad and Clio, Harvey prioritizes data privacy and customized solutions to transform legal services globally.

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