Harvey Announces $200M Funding Round

Legal tech startup Harvey announced Wednesday that it raised $200 million, bringing its valuation to $11 billion. The round was led by venture capital firms GIC and Sequoia, both previous investors, and included participation from existing investors Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Evantic and Kleiner Perkins, according to a press release. Harvey intends to use the capital to further develop the AI agents users run on its platform and to expand its global legal engineering teams, the release said. Harvey CEO and co-founder Winston Weinberg told Legaltech News in an email that the startup's focus on agentic AI underscores a larger trend in legal AI. For the past few years, it has been centered around chat, where a lawyer asks a question and gets a response, Weinberg said. Now, the company is seeing the move to agents that execute workflows, maintain context over time, and produce complete work products, he said. According to Weinberg, over 25,000 custom agents spanning a wide range of legal work currently run on Harvey. The company is focused on expanding both the number and sophistication of these agents, while continuing to invest in environments like Shared Spaces so teams can securely collaborate both within and across organizations, he said.