Legal AI startup Harvey is negotiating a funding round of at least $500 million. The deal would value the company at $15.5 billion. Lightspeed Venture Partners reportedly aims to lead the financing.
The new valuation represents a 40% increase over previous levels. Harvey was last valued at $11 billion. That valuation was set during a $200 million fundraise. The previous round occurred in March 2026.
The company's annualized revenue recently surpassed $350 million. OpenAI Startup Fund, Sequoia Capital, and Andreessen Horowitz back the four-year-old firm. Harvey develops AI-powered tools for law firms and corporate legal departments.