Legal AI platform Harvey has confirmed a new funding round led by Andreessen Horowitz, securing $160 million and raising the company’s valuation to an impressive $8 billion. The confirmation follows reports that surfaced in October, marking yet another milestone in one of the fastest-growing AI startups in the legal technology space.
The investment caps off a rapid series of fundraises over the past year. In June, Harvey closed a $300 million Series E round at a $5 billion valuation, only a few months after securing another $300 million Series D led by Sequoia at a $3 billion valuation in February. This aggressive funding pace highlights both investor confidence and the accelerating demand for AI-powered tools across the legal industry.
Harvey’s backers now include EQT, WndrCo, Sequoia, Kleiner Perkins, Conviction by Sarah Guo, and prominent investor Elad Gil. In September, shortly before this latest round, the company released selective business metrics showing steep customer growth and retention. Harvey later confirmed it surpassed $100 million in annual recurring revenue as of August. The company currently counts 50 of the top AmLaw 100 law firms as clients, alongside a growing roster of corporate legal departments.
With legal services deeply rooted in language, research, drafting, and document analysis, the sector has become an ideal proving ground for large language models. Harvey has positioned itself as a leading solution by offering domain-specific training, advanced summarization tools, rapid search capabilities, and contract assistance tailored to legal workflows.
The startup also reflects a broader Silicon Valley trend where venture capital firms “kingmake” emerging leaders by injecting substantial capital early, signaling credibility to enterprise customers and accelerating adoption. With its rapid customer acquisition and unique dataset drawn from partnerships with major law firms, Harvey may have secured a commanding lead in the competitive legal AI market.
Elad Gil describes Harvey as one of the rare AI companies experiencing genuine, market-driven growth, crediting both its technology and strategic positioning. The startup’s origins trace back to a simple proof of concept on landlord-tenant law and a cold email to Sam Altman, which eventually led to an early investment from the OpenAI Startup Fund. Since then, Harvey has become a standout favorite among top venture capital firms and a key player shaping the future of AI-powered legal services.
