Harvey raises $500 million in new funding round

Harvey AI Corp., a company specializing in artificial intelligence software for legal professionals, is raising at least $500 million in new funding. The round values the startup at $15.5 billion, an increase of $4.5 billion compared to the $11 billion valuation achieved in March. The growth is tied to operational performance: Harvey recently surpassed the $350 million mark in annualized revenue, a significant increase from the $190 million recorded in January. The platform enables lawyers to automate repetitive tasks through a tool that searches for relevant regulations and precedents, plus automatically generates documents such as contracts. The company expanded its offerings with an AI agent that can divide complex projects into multiple subtasks executed in parallel, requesting human intervention as needed. Harvey plans to develop its own series of models customized for the legal sector, thereby reducing operating costs and increasing independence from suppliers like Anthropic and OpenAI.