Harvey Valued at $11B After New Funding Round Led by GIC, Sequoia

Dow Jones03-25 23:22

By Nicholas G. Miller

Harvey, the company behind an AI operating system for legal work, is now valued at $11 billion following a $200 million funding round co-led by GIC and Sequoia.

Harvey, which is a platform for AI agents helping lawyers and enterprises accomplish tasks across mergers and acquisitions, due diligence, contract drafting and document review, has now raised more than $1 billion in funding.

Existing investors Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Evantic and Kleiner Perkins are also participating in the new funding round. Harvey will use the new investment to expand the agents running on its platform and grow the legal engineering teams that support customers.

"More than 100,000 lawyers around the world run their most critical work on Harvey, and we believe it's positioned to become one of the most important companies of the next decade," Sequoia partner Pat Grady said Wednesday.

AI is expected to shake up the legal industry with large language model tools capable of reviewing contracts and accomplishing other tasks that law firms once billed hours to perform.

The release of a new legal plug-in for Anthropic's Cowork assistant, powered by its AI model Claude, led the stock of LegalZoom and companies that run legal-research databases to plummet earlier this year.

Professional services firms, which have historically relied on the billable hour as their fundamental unit of business, may start to charge customers based on outcomes or through subscription and retainer models, according to The Wall Street Journal.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

March 25, 2026 11:22 ET (15:22 GMT)

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Harvey Valued at $11B After New Funding Round Led by GIC, Sequoia

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