300m 3b Series D - Harvey AI Swole
Here is your Press Release, Here is your Press Release on AI
Great big news Harvey AI - the 800lb secret gorilla in AI for Law. 300m new raised 2/12 for a 3b valuation. Congratulations!
Someone said on LinkedIn that Harvey was now more widely multi-modeled (beyond the confines of OpenAI which it is a wrapper over, and MSFT sources) yet when I showed this person the Harvey website listed/disclosed only those two as Subprocessors (of data) on that very same day, she fell silent.
More is unknown about Harvey AI than is known.
It’s a feature of smart capital sales intrigue, worry about regulatory interventions, and simple and prudent competitive behavior.
So I decided to do their press release on AI. With the assistance of Perplexity, have augmented for you the reader, greater detail, here goes…
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Based on the announcement and the search results, here's the statement with additional background information on the companies and names mentioned:
“Today, we are thrilled to announce our Series D financing led by Sequoia and including Coatue, Kleiner Perkins, OpenAI Startup Fund, GV, Conviction, Elad Gil, and REV, the venture capital arm of RELX Group which owns LexisNexis Legal & Professional.
“In 2024, we saw 4x annual recurring revenue (ARR) growth and expanded from 40 customers to 235 customers in 42 countries, including the majority of the top 10 US law firms.
“We've also seen the legal and professional services industry shift faster than ever before. Lawyers are adopting technology at an unprecedented rate, centuries-old firms are experimenting with new business models, and enterprises are driving significant savings with AI-enabled workflows.
“The pace of change will only accelerate in 2025.This investment will enable us to continue improving our platform, scaling agentic workflows, building out integrated enterprise use cases, and growing our team.Thank you to our customers, our employees, and investors.”
Additional Background Information
Harvey AI
Founded in 2022 by Winston Weinberg and Gabriel Pereyra3
Valued at $3 billion after the Series D funding round1
Experienced 4x annual recurring revenue growth in 20241
Expanded from 40 to 235 customers across 42 countries in 20241
Built on OpenAI's platform but continually tests other large language models1
Sequoia Capital
Led Harvey AI's Series D funding round1
Previously participated in Harvey's $80 million Series B funding round in December 20233
Coatue Management
American technology-focused investment management firm2
Founded by Philippe Laffont in 19992
Manages an estimated $90 billion in assets4
Has offices in New York City, Menlo Park, London, Shanghai, and Hong Kong2
Kleiner Perkins
Venture capital firm that participated in Harvey's $80 million Series B funding round in December 20233
OpenAI Startup Fund
Affiliated with OpenAI, the company behind ChatGPT1
Invested in Harvey's initial $5 million seed round in November 20223
GV (Google Ventures)
REV (venture capital arm of RELX Group)
Winston Weinberg
Gabriel Pereyra
Based on the search results, here is a list of Harvey AI's known customers:
Allen & Overy (now A&O Shearman)
PwC [ACCOUNTING NOT LEGAL]
Ashurst
Macfarlanes LLP
Nixon Peabody
Deutsche Telekom
Repsol
Cuatrecasas
Youssef + Partners
Carrefour Spain [RETAILER, GREAT INSTANT ORANGE JUICE]
B. Cremades & Asociados
HubSpot's Legal Team
Masin Projects
Cole-Frieman & Mallon
Tiang & Partners
Schoenherr
KMSC (Kobre & Kim Suong Choi)
Gleiss Lutz
Mori Hamada & Matsumoto
O'Melveny & Myers
CMS
Vinson & Elkins
Reed Smith
It's important to note that Harvey AI has expanded significantly, with over 250 leading law firms and enterprises using their platform3. Additionally, 28 of the AmLaw 100 Firms are using Harvey, and there are over 45,000 lawyers utilizing the platform3.
The company has also partnered with court officials in Singapore to assist pro se litigants in small claims cases5. While these specific customers are mentioned in the search results, there are likely many more that are not explicitly listed.
