Harvey AI’s Valuation Soars to $11 Billion in Just Months
▼ Summary
– Harvey, a legal AI startup, is reportedly in talks to raise $200 million at an $11 billion valuation, led by Sequoia and GIC.
– This potential funding would mark a rapid $3 billion valuation increase from its $8 billion valuation confirmed just months prior in December.
– The company has raised several large rounds, including a $300 million Series E at a $5 billion valuation in June and a $300 million Series D at a $3 billion valuation earlier in 2025.
– Harvey’s annual recurring revenue grew to $190 million by the end of 2025, nearly doubling from $100 million in less than six months.
– The company’s founder shared a story about how it initially won over major Silicon Valley venture capital firms, contributing to its breakout success.
The meteoric rise of legal technology firm Harvey continues to capture the industry’s attention, with the company now reportedly in advanced discussions to secure an additional $200 million in funding. This new investment round, said to be led by Sequoia Capital and Singapore’s sovereign wealth fund GIC, would place the startup’s valuation at a staggering $11 billion. This figure represents a dramatic $3 billion increase from its valuation just a few months prior, underscoring the intense investor confidence in its specialized artificial intelligence platform for the legal sector.
Should this funding round be finalized, it would mark the latest in a series of rapid-fire capital raises that have propelled Harvey’s worth to new heights. In December, the company confirmed a $160 million raise at an $8 billion valuation, led by Andreessen Horowitz. This followed a $300 million Series E round at a $5 billion valuation last June, led by Kleiner Perkins and Coatue. Merely a few months before that, in February 2025, the company closed a $300 million Series D at a $3 billion valuation under Sequoia’s leadership. This trajectory highlights an astonishing pace of growth and investor appetite.
Fueling this investor frenzy is the company’s explosive financial performance. Founder and CEO Winston Weinberg recently shared on LinkedIn that Harvey achieved an annual recurring revenue (ARR) rate of $190 million by the close of 2025. This represents a near doubling of its contracted revenue in less than half a year, having reported a $100 million ARR in August of that same year. Such growth metrics in the enterprise software space are exceptionally rare and help explain the premium valuation.
The question of how Harvey became one of the most prominent success stories in applied enterprise AI has a compelling origin. Weinberg recently recounted to TechCrunch’s editor-in-chief Connie Loizos the pivotal narrative that initially won over Silicon Valley’s most influential venture capital firms. The company’s focused approach on building a large language model specifically fine-tuned for the complex, high-stakes demands of legal work, including research, contract analysis, and due diligence, has allowed it to carve out a dominant niche. This specialization, combined with demonstrably rapid revenue expansion, has created a powerful growth story that continues to attract major capital.
(Source: TechCrunch)
