PANews reported on October 29th that, according to Bloomberg, legal AI startup Harvey has completed a $150 million funding round led by Andreessen Horowitz (a16z), bringing the company's latest valuation to $8 billion. This is Harvey's third major funding round in 2025, bringing its total funding this year to approximately $750 million.
Harvey, named after the main character in the legal drama series "Suits," focuses on developing generative AI tools for law firms, aiming to automate legal tasks such as contract review and case document analysis. The company has previously received investment from Sequoia Capital, Coatue, OpenAI Startup Fund, GV Capital, and Kleiner Perkins.
As of August, Harvey's annual recurring revenue (ARR) exceeded $100 million, with approximately 350 employees. The new funding will be used for product expansion and global market development to address the increasingly fierce competition in legal AI.
