LONDON (IT BOLTWISE) – Harvey, an artificial intelligence startup, has raised $160 million in a new funding round. The platform, designed specifically for legal professionals, aims to use this capital to further expand their skills. Leading investors such as Andreessen Horowitz and Sequoia Capital are supporting the company in consolidating its market position.
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Harvey, an innovative artificial intelligence startup, recently closed a significant round of financing. With $160 million in Series F round led by Andreessen Horowitz, the company plans to further expand its platform for legal professionals. New investors include WndrCo and T. Rowe Price Associates Inc., while existing backers such as Sequoia and Kleiner Perkins are also involved.
Harvey’s valuation has risen to an impressive $8 billion, a significant increase from the previous valuation of $5 billion. This development follows an earlier investment of $300 million in June and a recent €50 million investment by EQT Growth. Harvey, officially known as Counsel AI Corp. known, offers an AI-powered platform designed specifically for the needs of lawyers and legal teams.
Harvey’s platform is already used by over 700 leading law firms and corporations, including household names like Allen & Overy and PricewaterhouseCoopers LLP. Harvey’s tools help with tasks such as contract analysis, due diligence, compliance and process support to increase efficiency. A distinctive feature of the platform is the use of a bespoke model developed in collaboration with OpenAI Group PBC to provide extensive case law expertise.
In addition to the funding, Harvey announced the launch of Shared Spaces, a secure, AI-driven collaboration platform for lawyers. This allows law firms to share tailored AI tools without revealing proprietary information. Shared Spaces provides direct access to Harvey’s powerful models and enables deeper collaboration between in-house counsel and external law firms.
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