Harvey AI, a provider of legal automation software, announced a $300 million Series E funding round. The company's software assists lawyers with document review and contract drafting.
The round brings the company's valuation to $5 billion, a significant increase from its $3 billion valuation just four months prior. The round was led by Kleiner Perkins and Coatue.
It currently serves 337 legal clients and reported an annualized run-rate revenue (ARR) of $75 million in April 2025, implying a revenue multiple of 67.0x. The global legal tech market is substantial and continues to grow.
"We are excited to continue scaling our operations and expanding into new markets," commented Ryan, CEO at Harvey AI.
The company's rapid growth is noteworthy, with revenue doubling in a short period. T
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The company's current focus is on leveraging AI to automate tasks within the legal field, but future expansion into other professional services sectors is anticipated.
Harvey is in competition with Ironclad, a legal document automation platform, Spellbook, and Clio. All companies have secured significant funding and serve in similar markets.
Harvey AI employs 340 people and plans to double its workforce using the new funding to expand into adjacent professional services markets beyond legal, including tax accounting.
Participating investors included Conviction, Elad Gil, OpenAI Startup Fund, and Sequoia. This investment follows a $300 million Series D round in February 2025, also led by Sequoia.
