Sequoia led the funding round of two companies valued at $3B today. @Mercury, a digital first bank @harvey__ai, an AI lawyer https://t.co/7FQxJx0Wmf
If Mercury is only $3B or so how underwater is Brex etc from their '21 / '22 rounds https://t.co/xo2fWeU4Hl
Mercury did a crowdfunding round at $1.6B and now is raising at $3B. Rare for crowdfunding, but the product is excellent. https://t.co/7DV6OnS2iZ
Harvey, a San Francisco-based AI startup focused on the legal industry, has successfully raised $300 million in a Series D funding round led by Sequoia Capital. This round values the company at $3 billion, doubling its valuation from July. The funding will support Harvey's expansion and product development, as it currently serves over 230 customers in more than 40 countries, helping them analyze over 2 million documents through more than 7 million queries. The company's CEO, Winston Weinberg, highlighted a fourfold increase in annual recurring revenue in 2024 and a significant expansion in customer base, which now includes the majority of the top 10 US law firms. The investment round also includes participation from Coatue, Kleiner Perkins, OpenAI Startup Fund, GV, Conviction, Elad Gil, and REV, the venture capital arm of RELX Group, which owns LexisNexis Legal & Professional.
