Gen AI startup Harvey has announced a $100m Series C led by GV (Google Ventures) with participation from OpenAI, Kleiner Perkins, Sequoia Capital, Elad Gil, and SV Angel. The two year old San Francisco-founded company has been valued at a $1.5bn.
The raise follows Harvey’s $80m Series B in December.
In a blog post today (23 July), Harvey founders Winston Weinberg and Gabriel Pereyra said: “As we mark the company’s two-year anniversary, Harvey is used daily by tens of thousands of lawyers at the largest law firms, professional service providers, enterprises and governments around the world. Since our last fundraise in December, we’ve tripled ARR and doubled employee headcount. We’ve been encouraged by the diversity of professional service providers who have found value in our platform and the breadth of problems that our clients are solving using Harvey. But, we’re just getting started.
“Our Series C will enable Harvey to continue building the most trusted AI platform for professional services in the world. Our mission is to help all of our clients solve all of their challenges by making our platform more powerful, transparent, customizable and secure. We will use this new capital to invest in the engineering, data and domain expertise that are fundamental to building AI-native systems that facilitate the most complex knowledge work. Over the next 12 months, we will continue to collect and curate the data needed to build and train domain-specific models while growing our team by headcount and location to serve our clients where they are – globally.
“We will also deepen our partnerships with both cloud and model providers to integrate additional models into Harvey and broaden our training collaborations to continue improving model efficacy. These advancements will be combined with a growing set of products and integrations that can deliver our models more effectively for our clients and their workflows.”
Law firms that have become Harvey customers include UK-headquartered firms Ashurst, Macfarlanes, CMS, and Harvey’s first law firm client, transatlantic law firm A&O Shearman. In the US, law firm clients include O’Melveny and Reed Smith.