Harvey reaches $11B valuation as Sequoia significantly increases investment

Legal tech startup Harvey has cemented its position as one of the standout success stories in the AI era. On Wednesday, the company confirmed it had closed a new funding round at a $11 billion valuation, following reports last month that it was preparing another major capital raise.

The company said it secured $200 million in this latest round, which was co-led by existing investors GIC and Sequoia Capital. Other returning investors participating in the round include Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Evantic, and Kleiner Perkins.

With this latest infusion of capital, Harvey has now raised more than $1 billion overall. The company’s valuation has surged more than 3.5 times in just a year, reflecting strong investor confidence in its growth prospects and broader demand for AI-driven legal solutions.

Harvey’s rapid rise has been marked by a series of increasingly larger valuations across its recent funding rounds. The company was valued at $8 billion in a round announced in December, led by Andreessen Horowitz. Before that, it reached a $5 billion valuation in a June round led by Kleiner Perkins and Coatue. Earlier still, it was valued at $3 billion in February 2025 during a round led by Sequoia Capital.

Sequoia’s continued involvement has been especially notable, as the firm has now co-led three of Harvey’s funding rounds since its Series A. This level of repeated backing is relatively uncommon and signals a strong conviction in the company’s long-term potential.

Pat Grady acknowledged in the company’s press release that such sustained and significant investment represents an unusually high level of confidence from the firm, underscoring Harvey’s momentum in the fast-growing AI and legal technology space.