Legal AI startup Harvey reportedly raising $500M at $15.5B valuation

Harvey AI Corp. is reportedly back in the market for a very large check. The Information says the legal software startup is seeking at least $500 million, and that the round could value the company at $15.5 billion.

That would be a sharp jump from March, when Harvey closed a $200 million raise. The reported valuation increase works out to $4.5 billion in just a few months, and the timing lines up with a big run-up in revenue.

According to the report, Harvey has recently passed $350 million in annualized revenue. In January, that figure was said to be $190 million. If those numbers hold, investors are clearly betting that the company’s growth is not a one-off.

Harvey’s pitch is straightforward: it sells AI software that helps lawyers automate repetitive work. The platform includes search tools for regulations and precedents, drafting tools for contracts and other documents, and an AI agent system that can break projects into smaller tasks, work on them in parallel, and ask a human for help when it gets stuck.

The company also shows lawyers how its agents plan to handle a prompt before they start work, which should catch mistakes earlier and reduce rewrites later. Harvey says its Command Center dashboard helps legal leaders track how teams use AI agents and improve training. For now, it still leans on models from Anthropic PBC and OpenAI Group PBC, but in June it said it plans to build its own foundation model series for legal work.