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Harvey Raises $150 Million, Valuation Doubles to Over $8 Billion
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Heartspace News Desk
•Source: Forbes
Photo by Melinda Gimpel on Unsplash
TL;DR
Legal AI startup Harvey obtained $150 million in funding led by Andreessen Horowitz, boosting its valuation to over $8 billion. The company, which offers AI solutions to major law firms and financial institutions, has more than $100 million in annual recurring revenue and competes with other firms in the legal AI space.
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Key takeaways
- Legal AI startup Harvey has secured $150 million in a funding round led by Andreessen Horowitz, elevating its valuation to over $8 billion, according to Forbes
- This new investment more than doubles the three-year-old company's valuation within a single year
- Harvey, named after the fictional lawyer Harvey Specter, provides AI-powered solutions to prominent law firms, including A&O Shearman and Ashurst, as well as financial institutions such as KKR and Bridgewater
Legal AI startup Harvey has secured $150 million in a funding round led by Andreessen Horowitz, elevating its valuation to over $8 billion, according to Forbes. This new investment more than doubles the three-year-old company's valuation within a single year.
Harvey, named after the fictional lawyer Harvey Specter, provides AI-powered solutions to prominent law firms, including A&O Shearman and Ashurst, as well as financial institutions such as KKR and Bridgewater. CEO Winston Weinberg reported in August that the company generates over $100 million in annual recurring revenue.
Competing within a dynamic market against rivals like Legora, Luminance, Clio, and Ironclad, Harvey has raised over $1 billion in total funding to date.
Related Topics
HarveyLegal AIFundingAndreessen HorowitzValuationLegal TechArtificial Intelligence
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