On February 12, 2025, Harvey announced a 300 million dollar Series D funding round at a 3 billion dollar valuation, led by Sequoia Capital with participation from Coatue, Kleiner Perkins, the OpenAI Startup Fund, GV, Conviction, Elad Gil, and REV, the venture arm of LexisNexis owner RELX. The raise marked Harvey’s emergence as one of the most valuable startups built specifically around large language models for the legal profession.
Harvey reported that its business had grown sharply, citing roughly fourfold annual recurring revenue growth in 2024 and an expansion from 40 to 235 customers across 42 countries, including a majority of the top ten US law firms. The company said it would use the money to extend its platform, scale agentic workflows that chain multiple AI steps together, and build deeper enterprise integrations.
Why business readers should care: Harvey’s funding and customer numbers are a concrete signal that elite law firms - a famously cautious, high-liability buyer - were committing real budget to LLM tools, and that investors were willing to value a vertical AI application company in the billions on the strength of that adoption.