Harvey Raises $550M in Series C, Valuation Reaches $15.5B

iconKuCoinFlash
Share
AI summary iconSummary
Legal AI firm Harvey has raised $550 million in Series C funding, according to on-chain news, pushing its valuation to $15.5 billion. The round was co-led by Diffusion and Lightspeed. This follows a $200 million funding round in March at a $11 billion valuation. The funds will support the development of its proprietary model, Tenet, based on Kimi K3 from Moonshot AI. Backed by the OpenAI Startup Fund, Harvey now serves over 3,000 clients with an ARR exceeding $400 million.
ME AI News, Dongcha Beating AI Brief: Legal AI company Harvey has completed a $550 million new funding round, reaching a $15.5 billion valuation, co-led by Diffusion and Lightspeed. In March, it raised $200 million at an $11 billion valuation. Harvey provides AI tools for large law firms and corporate legal departments, including contract review, due diligence, and litigation support. The funds will be primarily invested in its proprietary models. In August, Harvey launched its first post-training model, Tenet, built on the Kimi K3 foundation model from Moonshot AI and further trained by Fireworks for long-duration legal tasks. Harvey was originally backed by the OpenAI Startup Fund and previously collaborated with OpenAI on training legal models. Now, when performance is comparable, it actively opts for more cost-effective foundation models. Harvey’s annual recurring revenue (ARR) has exceeded $400 million, with over 3,000 clients—up from just 1,300 in March. The company has raised over $1.5 billion in total funding. (Source: BlockBeats)
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.