Legal AI Startup Harvey Raises Funds at $11 Billion Valuation

Harvey, a startup that develops artificial intelligence for law firms, has raised $200 million in a new funding round that values the company at $11 billion.

The company will use the funds to expands its AI agents and grow its legal engineering teams that’s embedded with the customers, Harvey said in a statement on Wednesday. The round is co-led by existing investors GIC and Sequoia.

Harvey was valued at $8 billion when it raised funds in December.

Legal AI startups have boomed as tools powered by large language models promise to save lawyers time on grunt work like summarizing large ...