Legal AI startup Harvey valued at $11B in new $250M round - SiliconANGLE

Harvey AI Inc., a developer of AI tools for legal professionals, announced a $250 million Series C investment round led by GIC and Sequoia, bringing the company’s valuation to $11 billion. Harvey’s AI assistant automates tasks such as finding relevant legislation, extracting key information, drafting legal documents, and identifying areas for improvement in existing contracts. The company also offers Vault, a tool for advanced document review and organization, particularly useful during the discovery phase of lawsuits and for managing intellectual property.

Harvey’s platform simplifies legal work by providing access to data from over 500 sources and allowing integration with services like Google Drive. Recently, they launched a feature enabling customers to build custom AI agents for tasks like generating document summaries compliant with internal style guides. Over 25,000 agents have already been created on the platform.

The company plans to use the new funding to further develop its custom agent features and expand its engineering teams to support customers’ AI initiatives. Harvey aims to streamline legal processes and empower legal teams with advanced automation capabilities, as stated in the announcement.

(Source：SiliconANGLE News)