---
title: The Legal AI Platform 100,000 Lawyers Use Is in Talks at $15.5 Billion
description: Harvey, whose software runs legal work for more than 100,000 lawyers, is in talks to raise over $500 million at a $15.5 billion valuation.
author: Darie Nani (Editor-in-Chief)
updated: 2026-08-07T19:29:16.265Z
canonical: https://www.sovereignmagazine.com/article/harvey-legal-ai-talks-15-5-billion-valuation
image: https://cdn.nanimediahouse.com/harvey-legal-ai-valuation-119207.webp
categories: Startups
content_type: News
region: United States
publication: Sovereign Magazine
schema_type: Article
---

Harvey, whose software runs legal work for more than 100,000 lawyers, is in talks to raise more than $500 million at a valuation of $15.5 billion, [Steph Palazzolo and Julia Hornstein reported in a post on X](https://x.com/steph_palazzolo/status/2085773245735645535). The two, who cover technology for The Information, wrote that Lightspeed is in talks to lead the round. Harvey has not commented publicly on the talks.

That price would sit about 41 percent above the $11 billion valuation Harvey raised at in March, and at roughly 44 times the more than $350 million in [annualized revenue](https://www.sovereignmagazine.com/article/maximor-35x-growth-autonomous-finance) the reporters say the company has reached.

## More Than 25,000 Agents Now Run on Harvey

When Harvey announced the March round, $200 million co-led by GIC and Sequoia, it said more than 25,000 custom agents were operating on its platform, [executing work across mergers and acquisitions](https://www.sovereignmagazine.com/article/one-in-five-us-workers-delegate-tasks-to-ai), due diligence, contract drafting and document review. Some customers run agents over longer horizons, on multi-step work such as fund formation.

The company said it works with the majority of the AmLaw 100, more than 500 in-house legal teams and 50 asset management firms across 60 countries, and that the round took its total funding past $1 billion. Named customers included NBCUniversal, HSBC and Corrs Chambers Westgarth, with DLA Piper International expanding its work and McCann Fitzgerald going firmwide.

"AI isn't just assisting lawyers. It's becoming the system through which legal work gets done," Winston Weinberg, Harvey's chief executive and co-founder, said at the time. Pat Grady, a partner at Sequoia, said co-leading three rounds in the same company is rare for the firm.

> "Harvey has become the platform on which legal work runs."
> — Pat Grady, partner, Sequoia

## Goldman Sachs and JPMorgan Invested in Late July

Growth Equity at Goldman Sachs Alternatives and J.P. Morgan's Growth Equity Partners completed an investment in Harvey on July 28. Harvey said the deal followed its first quarter with more than $100 million of annual recurring revenue added, and Weinberg said bringing on marquee investors mattered as the company scales.

## Recent Deployments Have Covered Whole Firms

The German firm HEUKING extended Harvey to all its professional groups on August 5, three days after Harvey appointed Steve Zad as chief revenue officer. In late July the company said its agents were the first in legal certified to the AIUC-1 standard, and it expanded its work with Microsoft.

Harvey publishes its announcements at [harvey.ai](https://www.harvey.ai).

## FAQ

**Q: Do law firms use Harvey?**
Yes. Harvey said in March that more than 100,000 lawyers across 1,300 organizations use its software, and that it works with a majority of the AmLaw 100.

**Q: What is Harvey used for?**
It makes AI agents for legal work, covering mergers and acquisitions, due diligence, contract drafting and document review. Some customers run longer, multi-step agents for work such as fund formation.

**Q: Who backs Harvey?**
Its investors include GIC, Sequoia, Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Evantic and Kleiner Perkins, along with Growth Equity at Goldman Sachs Alternatives and J.P. Morgan's Growth Equity Partners, which invested in July.

**Q: How fast has Harvey's valuation moved?**
Harvey raised at $11 billion in March 2026. Reporters at The Information wrote in August that it is in talks to raise at $15.5 billion. Harvey has not confirmed the reported talks.