Harvey AI, the legal AI platform, has secured $300 million in Series E funding, rocketing its valuation to $5 billion. This fresh capital injection arrives merely four months after a previous $300 million Series D round that valued the company at $3 billion. The latest funding round was jointly led by Kleiner Perkins and Coatue, with participation from existing investors.
Harvey intends to deploy the funds to fuel international expansion and support its growing global customer base. The company's AI platform offers tools such as a personal assistant for task delegation, document analysis, and research capabilities, targeting law firms and in-house legal teams. Harvey's technology is built upon large language models, including OpenAI's ChatGPT and Claude's Gemini, customised with firm-specific data to ensure privacy and security.
Founded in 2022, Harvey has quickly become a leading player in the legal AI space. The company's workforce includes lawyers, and its technology has been reported to reduce legal processes from weeks to minutes.
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