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The impressive momentum of legal tech startup Harvey is unmistakable, as venture capitalists are eager to invest. Reports indicate that the company is in negotiations to secure an additional $200 million at a staggering $11 billion valuation, with Sequoia and Singapore’s GIC expected to lead the round, according to sources cited by Forbes.
Should this funding round conclude as anticipated, Harvey’s valuation could surge by $3 billion in just a few months. In December, the company announced it had raised $160 million, achieving an $8 billion valuation, primarily backed by Andreessen Horowitz last fall. (Harvey has chosen not to comment on these latest fundraising efforts.)
In June, the startup secured a $300 million Series E at a $5 billion valuation, led by Kleiner Perkins and Coatue, following an earlier $300 million Series D in February 2025, which was also spearheaded by Sequoia at a $3 billion valuation.
Harvey, known for its large language model (LLM) tailored for law firms, reported an annual recurring revenue (ARR) of $190 million by the close of 2025, as shared by founder and CEO Winston Weinberg on LinkedIn. This figure marks a significant increase from the $100 million ARR reported in August, indicating a near doubling of contracted revenue within a mere six months.
What factors have contributed to Harvey’s remarkable success in the AI enterprise application space? Weinberg recently recounted an inspiring narrative to TechCrunch’s editor-in-chief, Connie Loizos, detailing the story of how the startup captured the attention of Silicon Valley’s leading venture capitalists.
### Hustle Verdict
Our take is that this ongoing investment trend underscores the legal tech sector’s transformation driven by innovative AI solutions. We believe that accelerated funding reflects a growing confidence among investors in the future viability of AI applications within legal frameworks, potentially setting the stage for other sectors to embrace similar technological advancements. The bottom line is that Harvey’s rapid growth could herald a significant shift, influencing how legal services are delivered in the coming years.
