There seems to be no stopping the skyrocketing growth of legal AI startup Harvey, with VCs constantly throwing money at it. The company is reportedly in talks to raise $200 million led by Sequoia and Singapore’s GIC at a valuation of $11 billion. Sources told Forbes.
If the deal closes, Harvey’s valuation will increase by $3 billion in a matter of months. In December the company confirmed it had raised $160 million At a valuation of $8 billion Led by Andreessen Horowitz last fall. (Harvey declined to comment on its potential new increases.)
In June, it announced a $300 million Series E led by Kleiner Perkins and Coatue at a valuation of $5 billion. A few months before that, in February 2025, it had swallowed Sequoia-led company $300 million Series D At a valuation of $3 billion.
The startup, which provides LLM AI for law firms, achieves annual recurring revenue run rate of $190 million by the end of 2025, founding CEO Winston Weinberg shared on linkedin. This was up from $100 million ARR in August (It depends on what the company means by ARR), so that’s almost double the contracted revenue in less than six months.
How has it become one of the breakout winners of AI enterprise applications? Weinberg recently told TechCrunch editor-in-chief Connie Loizos. An incredible story of how the company originally came to be Captured the hearts of Silicon Valley powerhouse VCs.
