Legal startup Harvey, which specializes in generative AI tools tailored for law firms and other professional services providers, is strategically moving towards raising $600 million from investors. This new round of funding aims to achieve a valuation of $2 billion, according to a report by the Information.
In December of last year, Harvey successfully secured $80 million in a Series B funding round led by investor Elad Gil and venture capital firm Kleiner Perkins, pushing its valuation to $715 million at the time. Despite the recent buzz, the startup has yet to respond to requests for comment regarding these latest financial maneuvers.
The ongoing push for increased investment comes as many legal-tech companies are expanding their service offerings by integrating artificial intelligence to streamline processes such as legal research, analytics, and workflow management. This trend highlights the increasing interest and demand in the legal industry for technologically advanced solutions that can enhance efficiency.
The anticipated capital influx could potentially position Harvey as a frontrunner in the legal-tech space, further accelerating the development and adoption of its AI-driven tools. For further details on Harvey’s funding efforts, the original report can be accessed on the Bloomberg Law website.