Jul 2, 02:18 PM

Harvey Raises $300 Million, Legal-AI Valuation Jumps to $5 Billion

Harvey, the generative-AI platform that automates legal research and drafting, secured a $300 million Series E round co-led by Kleiner Perkins and Coatue, lifting its valuation to $5 billion. The deal comes just four months after the San Francisco-based company was valued at $3 billion, underscoring rapid investor demand for specialised AI tools. OpenAI remains a strategic backer. Management said the fresh capital will fund hiring and accelerate rollout of Harvey’s new Workflow Builder, which lets law firms customise automated processes across litigation and transaction work. The company, founded in 2022, counts several global law firms among paying customers and reports rising demand as firms look to cut research costs and speed case preparation. The financing adds to a steady flow of large AI cheques. Swedish no-code developer platform Lovable is separately in advanced talks to raise about $150 million at a valuation near $2 billion, according to press reports, highlighting continued appetite for fast-growing generative-AI startups across sectors.

#Harvey #Kleiner Perkins #Coatue #San Francisco #OpenAI #Management #Workflow Builder #Swedish #Lovable

Written with ChatGPT .

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Harvey Raises $300 Million, Legal-AI Valuation Jumps to $5 Billion

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