legal AI AI News & Updates

Legal AI Startup Harvey Reaches $5B Valuation with Rapid Revenue Growth

Harvey AI, a startup providing AI automation for legal work, raised $300 million at a $5 billion valuation just four months after its previous $3 billion round. The company is expanding rapidly with 340 employees, plans to double headcount, and has reached $75 million in annualized revenue while serving 337 legal clients.

Harvey Legal AI Expands Beyond OpenAI to Incorporate Anthropic and Google Models

Legal AI tool Harvey announced it will now utilize foundation models from Anthropic and Google alongside OpenAI's models. Despite being backed by the OpenAI Startup Fund, Harvey's internal benchmarks revealed different models excel at specific legal tasks, prompting the $3 billion valuation startup to adopt a multi-model approach for its services.