Harvey raises $550M at $15.5B valuation, passes $400M ARR

We’ve raised $550M at a $15.5B valuation, led by @DiffusionVC and @LightSpeedVP. We’ve crossed $400M in ARR and serve 3,000 customers, including 80% of the top 100 law firms, 20% of the Fortune 500, and half of the Fortune 10. We are investing the capital from this round into our two most important resources: people and compute. Our product is expanding into new verticals and more specialized solutions for areas like contracting, litigation, deals, and compliance. As usage grows, we’re investing heavily in inference and model training to deliver frontier legal intelligence at the best possible price. Building on Tenet, our first model post-trained on open-weight models, this round will let us scale the compute and data behind future generations of our models. We believe the most successful application-layer companies will become full-stack AI companies, building across applications, agents, and models. Becoming a full-stack AI company will help our customers own more of their intelligence and build their vision of a frontier legal organization. We’re also grateful to @Sequoia, @KleinerPerkins , @A16Z , @CoatueMgmt, @Conviction, @EladGil, Evantic, GIC, @GoldmanSachs, Sapphire Ventures and Whale Rock for participating in the round and backing that vision.