Harvey, the legal artificial intelligence company, has closed a $550 million funding round at a $15.5 billion valuation, co-led by Diffusion and Lightspeed.
The raise brings Harvey’s total funding to more than $1.5 billion since its launch in 2022, underlining the sustained investor appetite for AI tools targeting professional services.
Other participants in the round include Sequoia, Kleiner Perkins, a16z, Coatue, Conviction, Elad Gil, Evantic, GIC, Goldman Sachs Alternatives, Whale Rock, WndrCo, Sapphire, and Verified Capital.
The breadth of the investor list signals broad confidence in Harvey’s position as the leading AI platform serving the global legal sector.
Cofounder Winston Weinberg announced on LinkedIn that Harvey has now crossed $400 million in annual recurring revenue, a significant milestone for the fast-growing firm.
The company currently serves more than 3,000 customers, including 80% of the top 100 law firms, 20% of the Fortune 500, and half of the Fortune 10.
The fundraise follows the introduction of Tenet, Harvey’s first post-trained open-weight model, and the launch of Harvey LAB, the Legal Agent Benchmark.
Weinberg said the capital from this round is being invested “into our two most important resources: people and compute.”
The company is hiring aggressively across product, engineering, research, and go-to-market roles as it expands into new verticals and builds more specialised products for contracting, litigation, deals, and compliance.
On compute, Weinberg said Harvey will be investing heavily in both its harness and its own model training, pointing to ambitious technical ambitions beyond its current product suite.
Weinberg described the launch of Tenet as just the beginning, adding that “this round lets us scale the compute and data behind the generations that follow.”
The investment represents one of the largest single rounds raised by a legal technology company, reflecting the rapid commercialisation of AI across the professional services industry.
Harvey’s growth trajectory positions it as a significant player not only in legal AI but increasingly across financial and corporate compliance markets globally.