Harvey said it raised $550 million at a $15.5 billion valuation in a round co-led by Diffusion and Lightspeed Venture Partners, according to the company's Sept. 9 blog post.
Bloomberg separately reported a valuation of roughly $15.6 billion, a discrepancy from Harvey's figure. This story uses the $15.5 billion valuation stated by Harvey.
Harvey's blog post said existing investors Sequoia, Kleiner Perkins, a16z, Coatue, Conviction, Elad Gil, Evantic, GIC, Goldman Sachs Alternatives, Verified Capital and WNDR participated. It identified Diffusion, Lightspeed, Sapphire Ventures and Whale Rock as new investors.
The financing follows Harvey's introduction of its first post-trained open-weight model and Harvey LAB, the company's Legal Agent Benchmark. Harvey said the new capital will support its effort to build legal AI models it can own, rather than relying only on broad foundation-model providers.
Harvey's Sept. 9 blog post also said 80% of Am Law 100 law firms use Harvey and that five of the Fortune 10 are among its in-house legal customers. Those are company claims, not independently verified customer data.
The round shows how vertical AI companies are trying to capture more of the model stack as investors continue to fund specialized software. For Harvey, the question is whether post-trained models and a growing presence in Big Law can turn a large funding round into durable advantages over general-purpose AI providers.