Legal AI startup Harvey is in talks to raise at least $500 million at a $15.5 billion valuation, according to The Information, as cited by multiple outlets. The reported valuation would be a significant increase from its prior funding milestone earlier this year.
The Information previously reported a March round in which Harvey raised $200 million at an $11 billion valuation. The current discussions, if completed, would expand the company’s valuation by roughly 40% over about five months. The Next Web and PYMNTS.com also link the fundraising push to strong performance, including rapid revenue growth that has reportedly moved above $350 million on an annualized basis.
The outlets differ mainly in how they frame additional details: The Next Web notes that Lightspeed Venture Partners is keen to lead the round, while PYMNTS emphasizes the reported valuation and the revenue figures. Both accounts rely on The Information and an unnamed source for the core terms of the proposed fundraising.
