• Harvey AI raises $300M Series E at a $5 billion valuation, just four months after a $3B valuation.
  • The startup plans to double its 340-strong workforce and expand AI solutions beyond legal services.
  • Harvey’s annualised revenue reached $75 million in April 2025, reflecting rapid growth and strong market demand.

Harvey AI, a legal tech startup specialising in AI-powered automation for lawyers, has raised $300 million in a Series E funding round, boosting its valuation to $5 billion, the company confirmed to Fortune.

This funding round, co-led by Kleiner Perkins and Coatue, includes participation from existing investors such as Sequoia, Conviction, Elad Gil, and the OpenAI Startup Fund.

Remarkably, this comes just four months after Harvey’s $300 million Series D round valued the company at $3 billion.

Founded in 2022, Harvey AI has quickly become a leader in generative AI for legal workflows, assisting lawyers in document review and contract drafting. The startup currently serves 337 legal clients, including prominent law firms and corporate in-house teams.

Harvey’s annualised run-rate revenue surged to $75 million in April 2025, up from $50 million earlier in the year.

Unlike many AI startups that limit hiring, Harvey is aggressively expanding its workforce. The company employs 340 people and plans to double its headcount using the new capital. Some hires will focus on developing AI products for professional services beyond legal, including tax accounting.

Harvey’s rapid growth and large funding rounds position it strongly against competitors like Ironclad and Clio, which have also raised hundreds of millions in recent years.

CEO Winston Weinberg emphasised the need for sizable raises to support Harvey’s swift expansion and product diversification.

Edited by Annette George