Legal AI company Harvey has raised $550 million at a $15.5 billion valuation, the company announced on September 9. Tech Times and Tech Startups reported the valuation as $15.6 billion; the $15.5 billion figure is Harvey's own.
Lightspeed Venture Partners and Diffusion co-led the round. Diffusion is a new investment firm co-founded by Kris Fredrickson, a former Coatue investor and a longtime Harvey backer. Sapphire Ventures and Whale Rock also came in new. Existing investors Sequoia, Kleiner Perkins, Andreessen Horowitz, Coatue, Conviction, Elad Gil, Evantic, GIC, Goldman Sachs Alternatives, Verified Capital and WNDR participated.
The pace of the repricing
Harvey has now raised more than $1.55 billion in total. The valuation history: $8 billion in December 2025, $11 billion in March 2026, and $15.5 billion now. That is roughly a doubling in nine months, across what TechCrunch counts as at least eight priced rounds since 2023, five of them since the start of 2025.
Tech Startups reported that annual recurring revenue has passed $400 million and that Harvey now serves more than 3,000 organizations, up from roughly 1,300 earlier this year. Harvey's own announcement did not disclose a revenue figure.
What the money is for
Harvey has begun building its own models. The company recently launched Tenet, an in-house legal model built on the open-weight Kimi K3, positioned so that law firm documents stay off third-party servers. Tech Startups also reported that Harvey acquired AI-agent security startup Guardrails AI.
Harvey's announcement, credited to co-founders Winston Weinberg and Gabe Pereyra, says the capital will accelerate its efforts to help law firms, in-house legal teams and professional services firms build and own their intelligence at scale. Harvey says 80% of the Am Law 100 use the platform, along with five of the Fortune 10 among in-house legal teams.
Other AI rounds this week
The round lands in a week of large AI financings. Mistral raised EUR 3 billion (~$3.5 billion) led by Samsung, and Cognition raised more than $2 billion at $48 billion. Other vertical AI rounds priced this year include Instinct's $250 million Series B at a $2.5 billion valuation led by Index and Benchmark. DeepSeek neared a $7.4 billion round at a $74 billion valuation.
Source: Harvey
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