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Startup excluding-Legal Harvey Ai in talks to collect funding to $ 5 billion

https://www.profitableratecpm.com/h3thxini?key=b300c954a3ef8178481db9f902561915


By Anna Tong and Krystal Hu

-Harvey Ai, a fast -growing legal startup, is in advanced conversations to raise more than $ 250 million in a new funding round with a $ 5 billion assessment, told Reuters sources known to the matter.

The funding round, led by Kleiner Perkins and Coatoue venture capital companies, would mark a significant leap in Harvey’s assessment from $ 3 billion in a few months. Sequoia Capital, an existing sponsor, is also expected to increase its investment in this round.

The interest of Harvey’s investors is based on the growth of the company’s income, according to people who are aware of the number of the company. Its annualized execution rate reached $ 75 million in April, up to $ 50 million earlier this year.

This 50% increase in a matter of months has been fed by strategic collaborations with large consulting companies such as PWC, as well as direct sales to large corporations for general use of general lawyers, said the sources, which requested anonymity to discuss private information.

Harvey, Coature and Sequoia did not respond to comments applications. Kleiner Perkins refused to comment.

Harvey, founded in 2022, has become one of the most prominent legal startups in the generative AI.

The company uses AI models and machines learning algorithms to help lawyers and legal professionals in various tasks, including documents review, drafting contracts and legal research.

It has focused on the sale of elite law firms and the largest corporations, and to create specific modules for tasks such as the fulfillment of M&A.

The startup, which began to associate with Openai to create a model formed for legal professionals, announced this week that it expanded its offers by adding models of founding anthropic and Google on its platform.

The round, once completed, would mark a double to Harvey for Kleiner Perkins, who directed Harvey’s B -$ 80 million series in December 2023.

The adoption of AI technology has promoted the increased interest of venture capital investors in the legal sector, which used to overlook the VCs so that they do not have an increasingly increasing market and to be dominated by a good number of large actors.

By 2024, world investments in legal technology startups reached $ 2.1 billion, according to Crunchbase data. The enthusiasm has grown, and in February 2025 he saw one of the highest investments in the history of U.S. legal technology.

This increase in funding reflects the increasing adoption of the IA and other advanced technologies in the legal industry, as companies aim to improve efficiency, reduce costs and improve the quality of their services in an increasingly competitive market.



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