Harvey raises $300M Series D at $3B valuation
Sequoia led the round; Harvey said annual recurring revenue had grown fourfold in 2025 and its client base had expanded from 40 to 235 organisations.
- Money & business
- Minor
Harvey, the legal-AI startup built on OpenAI’s models, raised a $300 million Series D at a $3 billion valuation, led by Sequoia Capital. Coatue, Kleiner Perkins, the OpenAI Startup Fund, GV, Conviction, angel investor Elad Gil and REV — the venture arm of RELX, which owns LexisNexis — also participated.
In its own announcement, Harvey said annual recurring revenue had grown fourfold over the course of 2024 and that its customer base had expanded from 40 to 235 organisations across 42 countries, with most of the top ten US law firms by revenue among its clients. The company said the funding would go toward further model development with OpenAI and continued expansion of its legal-workflow products, which cover contract analysis, due diligence, compliance and litigation support.
The round valued Harvey at more than four times the $715 million it had commanded at its Series B roughly fourteen months earlier, reflecting the broader run-up in valuations for application-layer AI companies through 2024 and into 2025 as investors priced rapid enterprise adoption of AI tools in professional services. Harvey returned to the market again within months, closing a further $300 million Series E at a $5 billion valuation in June 2025.