Harvey, a San Francisco-based legal AI startup founded by Winston Weinberg and Gabe Pereyra in 2022, has confirmed that it has raised $200 million at an $11 billion valuation, following weeks of speculation.
The round was co-led by returning investors GIC and Sequoia, with existing backers such as a16z, Kleiner Perkins, and Elad Gil.
Over the years, Harvey has positioned itself as a new kind of “legal infrastructure” for law firms and legal teams, with a focus on AI agents that can run multi-step workflows, such as contract drafting and document review.
Agents, adoption, and the signal investors see
That pitch is now gaining traction inside some of the most tradition-bound institutions in business, and investors are leaning in.
Harvey says more than 25,000 custom agents now operate on its platform, which Sequoia partner Pat Grady says is used by more than 100,000 lawyers to run their most critical work.”
Harvey also said it partners with the majority of the AmLaw 100, alongside 500+ in-house legal teams and 50 asset management firms across 60 countries.
According to reports, the fresh capital will now go towards expanding Harvey’s agent capabilities, while growing its legal engineering teams that help build and deploy them.
The early moment that opened doors
The latest valuation milestone reflects the kind of momentum that has been years in the making. When Weinberg was just a first-year associate at a major law firm, he began tinkering with early large language models to try and see if they could handle the slow, repetitive parts of the job.
Then, he and Pereyra, an engineer, kept testing use cases until they felt confident there was a product. In 2022, they sent a cold email to Sam Altman and Jason Kwon, which led to a call and an early check from the OpenAI Startup Fund.
Weinberg, who was once just a 27-year-old looking for an easier way to do his job, now argues the shift is structural. “AI isn’t just assisting lawyers,” he said in Harvey’s latest fundraise announcement. “It’s becoming the system through which legal work gets done.”
