Harvey raises $150M, hits $8B valuation in legal AI market

Harvey, a San Francisco-based legal AI startup, has raised $150 million in a Series C funding round led by Andreessen Horowitz, valuing the company at over $8 billion. This marks Harvey’s third funding round in 2025 alone, more than doubling its valuation from $3 billion in February to its current $8 billion assessment, positioning it as one of the most valuable AI startups in the legal technology sector.

What you should know: Harvey has emerged as the dominant fundraiser in legal AI, having raised over $1 billion total since its founding in 2022.

• The company provides AI tools to major law firms including A&O Shearman and Ashurst, as well as investment funds like KKR, a private equity firm, and Bridgewater, a hedge fund.
• Named after Harvey Specter from the TV drama Suits, the startup has been featured on Forbes’ AI 50 list of most promising AI companies since 2023.
• CEO Winston Weinberg reported the company is generating more than $100 million in annual recurring revenue, doubling its revenue from February 2025.

The big picture: Harvey faces intensifying competition in an increasingly crowded legal AI market as established players and well-funded startups vie for Big Law clients.

• Swedish startup Legora is reportedly raising funds at a $1.8 billion valuation to compete directly with Harvey for major law firm contracts.
• Established legal tech companies like Luminance, Clio, and Ironclad are also targeting the same market segment.
• Niche-focused startups like EvenUp (personal injury law) and Finch (paralegals) have raised significant funding to capture specialized legal markets.
• Thomson Reuters, which owns case law database Westlaw, acquired Harvey rival Casetext for $650 million last year, signaling major consolidation in the space.

Strategic partnerships: Harvey has secured backing from RELX, the $85 billion publishing group that owns legal database LexisNexis.

• The startup signed a partnership deal with LexisNexis in June, providing access to crucial legal data and research capabilities.
• This relationship gives Harvey a competitive advantage through integration with one of the legal industry’s most essential databases.

Company background: Harvey was founded by an unlikely duo combining legal expertise with cutting-edge AI research.

• CEO Winston Weinberg was a junior lawyer at O’Melveny & Myers when he co-founded the company with Gabe Pereyra, a former DeepMind researcher.
• The three-year-old startup has achieved rapid growth, scaling from startup to $8 billion valuation faster than most competitors in the legal tech space.