Legal artificial intelligence platform Harvey has raised $200m in a new funding round co-led by GIC and Sequoia, valuing the business at $11bn, as investor appetite for AI-enabled professional services continues to accelerate, according to a report by Bloomberg.
Backers also included Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Evantic and Kleiner Perkins. The raise brings Harvey’s total funding to more than $1bn.
The company said the new capital will be used to expand its suite of AI agents and scale its legal engineering teams embedded within client organisations. Harvey develops tools designed to automate legal workflows, including document review, due diligence and contract drafting.
The latest valuation marks a step up from the $8bn level achieved in its December fundraising, underscoring rapid growth in demand for generative AI solutions across the legal sector.
Harvey said it has deployed more than 25,000 custom AI agents across use cases spanning M&A, due diligence and compliance workflows. Its client base includes NBCUniversal, HSBC and DLA Piper.
The fundraising comes amid a broader surge in legal AI investment, with firms seeking to improve efficiency and reduce manual workloads through automation. Earlier this month, Swedish legal AI company Legora raised $550m at a $5.55bn valuation to support its US expansion.
