Harvey reportedly raising at $11B valuation just months after it hit $8B

The rapid momentum behind legal AI company Harvey shows no sign of slowing, as venture investors continue to pour significant capital into the business. Citing sources familiar with the discussions, Forbes reports that Harvey is currently in negotiations to secure an additional $200 million in funding at a $11 billion valuation. The round is reportedly being led by Sequoia Capital and Singapore’s sovereign wealth fund GIC.

Should the deal be completed, the company’s valuation would rise by $3 billion within a few months. In December, Harvey confirmed that it had raised $160 million at an $8 billion valuation in a financing round led by Andreessen Horowitz during the previous fall. The company has declined to comment on the potential new fundraising efforts.

Harvey’s steady valuation climb reflects a series of major funding rounds over the past year. In June, the company announced a $300 million Series E round at a $5 billion valuation, backed by Kleiner Perkins and Coatue Management. Earlier still, in February 2025, the startup closed a $300 million Series D round at a $3 billion valuation, led by Sequoia Capital.

The company develops a large language-model-powered artificial intelligence platform designed specifically for law firms. As its valuation has climbed, so too has its revenue. Founder and CEO Winston Weinberg shared on LinkedIn that Harvey reached an annual recurring revenue (ARR) run rate of $190 million by the end of 2025. That figure marks a notable increase from the $100 million ARR reported in August, representing nearly a doubling of contracted revenue in under six months, depending on how the company defines ARR.

Harvey’s rapid scaling has positioned it as a standout performer in the enterprise AI applications sector. The company’s accelerating revenue growth, combined with repeated backing from high-profile venture firms, highlights the strong investor appetite for specialised AI tools tailored to professional services.

Weinberg has previously reflected on how Harvey first captured the interest of Silicon Valley’s most influential venture capital firms, recounting the early pitching efforts and product development milestones that helped the startup gain credibility and momentum among leading investors.