Harvey AI raises $550 million at $15.5 billion valuation

Harvey AI Corp. has raised $550 million in a Series H funding round, bringing the company’s valuation to $15.5 billion. The round was co-led by Diffusion and Lightspeed Venture Partners, with participation from Sequoia, Kleiner Perkins, and Goldman Sachs.

The company provides a cloud-based platform designed to help law firms and in-house legal teams automate manual tasks and manage institutional knowledge. Harvey’s technology allows users to store large document repositories and utilize AI-driven search and agents to identify patterns, retrieve precedents, and assist in drafting legal documents.

Harvey currently serves 80% of the Am Law 100 and half of the Fortune 10 companies. The company recently introduced Tenet, a custom large language model fine-tuned from the open-source Kimi K3, which utilizes 896 individual neural networks optimized for specific legal tasks. Between January and June of this year, the platform saw monthly token consumption grow from 1 trillion to 14.6 trillion.