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About Harvey
Industries
Cybersecurity
Legal
Company Size
201-500
Company Stage
Series D
Total Funding
$492.2M
Headquarters
San Francisco, California
Founded
2022
Overview
Harvey.ai builds custom Large Language Models (LLMs) specifically designed for elite law firms to tackle complex legal challenges across various jurisdictions and legal systems. Their AI technology helps streamline operations, reduce manual workloads, and enhance decision-making processes. A notable product is their AI chatbot, developed in collaboration with Allen & Overy, which demonstrates significant efficiency improvements in legal work. Unlike many competitors, Harvey.ai focuses on bespoke AI solutions, charging clients for initial customization and ongoing subscription fees for support and updates. The company's goal is to enhance the efficiency and accuracy of legal practices while ensuring top-notch data security, as evidenced by their dedicated Security Advisory Board and adherence to leading security certifications.
Simplify's Take
What believers are saying
- Harvey's $300M Series D funding boosts its valuation to $3 billion.
- Partnership with Icertis enhances contract analysis speed and accuracy.
- Opening a London office expands Harvey's influence in the European legal tech market.
What critics are saying
- LexisNexis investment may lead to strategic misalignments with Harvey.
- Partnership with Icertis could create tension with Evisort, another partner.
- Rapid AI innovation may render Harvey's models obsolete if not updated.
What makes Harvey unique
- Harvey offers custom LLMs tailored for elite law firms' complex legal challenges.
- The company provides a natural language interface for existing legal workflows.
- Harvey's BigLaw Bench sets a new standard for evaluating AI performance in legal tasks.
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Funding
Total Funding
$492.2M
Above
Industry Average
Funded Over
6 Rounds
Coatue Management
Kleiner Perkins
SV AngelIndustry standards
Benefits
Relocation Assistance
Growth & Insights and Company News
6 month growth
↑ 1%1 year growth
↑ 68%2 year growth
↑ 68%Return investors Sequoia, Kleiner Perkins, GV, Elad Gil, Conviction and OpenAI Startup Fund joined by new investors Coatue and LexisNexis at a $3B valuation.
LexisNexis' parent company, RELX, invested in rival AI firm Harvey through its venture arm, REV, despite Harvey's tools competing with LexisNexis products. Harvey raised $300 million at a $3 billion valuation. RELX claims the investment won't affect LexisNexis' product plans or involve cross-selling. REV aims to support innovative companies, but the strategic benefit to LexisNexis customers remains unclear.
The generative artificial intelligence platform Harvey became one of the most valued legal technology companies on Wednesday after securing a $300 million Series D investment...
Mistral AI, France’s open-source answer to OpenAI, plans to go public instead of being acquired. “We are not for sale,” CEO and co-founder Arthur Mensch told Bloomberg TV Tuesday (Jan. 21). There had been speculation that the startup would be acquired by Microsoft, in part due to a partnership and the tech giant’s investment of 15 million euros ($15.6 million) in Mistral. (Microsoft has invested nearly $14 billion in OpenAI.)
Sequoia Capital is in talks to lead a $300 million funding round for artificial intelligence startup Harvey, a deal that would value the company at $3 billion, according to people familiar with the matter.
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About Harvey
Industries
Cybersecurity
Legal
Company Size
201-500
Company Stage
Series D
Total Funding
$492.2M
Headquarters
San Francisco, California
Founded
2022
Harvey is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today