Harvey AI valued at $11B after raising $250M for legal document tools
Harvey AI Inc., a developer of AI tools for legal professionals, closed a $250 million Series C investment round today, bringing the company's valuation to $11 billion.
GIC and Sequoia jointly led the round. Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Evantic and Kleiner Perkins also participated.
What Harvey does
The platform automates several core legal tasks. Its AI assistant finds relevant legislation and precedents, extracts key information, and generates initial drafts of legal documents.
Attorneys can use Harvey to check whether contracts comply with updated regulations or identify areas for improvement in existing documents.
A separate tool called Vault handles large-scale document review. It can analyze up to 100,000 documents and automatically organize materials collected during discovery-the process of gathering evidence in litigation.
Vault also serves as a repository for intellectual property like document templates, with access controls that let law firms restrict which staff members can view specific files.
Custom AI agents
Earlier this month, Harvey launched a feature that lets customers build custom AI agents and automation workflows on its platform. A law firm could create an agent that generates document summaries in a specific style, for example, or automate multi-step tasks.
More than 25,000 agents have been built on Harvey's platform to date. The company provides engineering support to help customers develop these tools.
Harvey plans to use the Series C proceeds to expand its custom agent capabilities and grow the embedded engineering teams supporting customer AI projects.
The platform also provides access to regulatory filings from more than 500 sources, which attorneys can combine with internal documents stored in services like Google Drive.
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