Legal AI startup Harvey is in talks to raise $500m at a $15.5bn valuation, a 40% jump from its $11bn valuation just five months ago. The company now generates over $350m in annualised revenue, up 80% from $190m in January, implying a ~44x revenue multiple. Harvey has secured strategic investment from Goldman Sachs and JPMorgan, deepened a Microsoft partnership, and won firmwide deployments at major law firms. The key risk: Harvey depends on OpenAI and Anthropic for its AI capabilities, and model owners could eventually compete directly or change terms, as seen with tools like Cursor.
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What is Harvey AI's current valuation and revenue?
Harvey is raising at a $15.5bn valuation — a 40% increase from its $11bn valuation five months prior. The company generates over $350m in annualised revenue, up more than 80% from $190m in January. At $15.5bn, that represents roughly 44 times its current revenue run rate. Lightspeed Venture Partners is reported to be keen to lead the $500m round. Teams tracking vertical AI funding rounds and valuations find the latest signals on daily.dev.