Harvey raises $550M, lifting its valuation to $15.5B from $11B

Harvey raises $550M, lifting its valuation to $15.5B from $11B

9 September 2026: Harvey, which sells AI tools for legal research, contract analysis and legal workflows, has raised $550 million at a $15.5 billion valuation. That is about 41% above the $11 billion it was valued at in a round it raised in March. Diffusion and Lightspeed Venture Partners co-led, with Sapphire Ventures, Whale Rock Capital Management and existing investors taking part. Bloomberg's report of the same day gave the valuation as $15.6 billion; the figure here is Harvey's own.

The round follows two product moves: Harvey's first post-trained open-weight model, and Harvey LAB, a benchmark it built for legal agents. The company says the money goes into that work. Nothing changed for current customers with the announcement: no new product, no new prices.

It is Harvey's second round of 2026, and both its customer claims point at the same two markets: large law firms and the legal departments of very large companies. Its tools are pitched at both, covering research, review of contracts and the routine workflows of a legal team.

Harvey says 80% of Am Law 100 firms and five Fortune 10 companies use its tools. Vendors count adoption in different ways, from a firm-wide licence to a single practice group on a pilot, so a buyer comparing legal AI vendors should ask each one what its number counts.

Sources

• Harvey: Harvey Raises $550M at a $15.5B Valuation to Help Legal Teams Own Their Intelligence, 9 September 2026
• Bloomberg: Legal AI Startup Harvey Hits $15.6 Billion Value With $550 Million Round, 9 September 2026
• PYMNTS: Harvey Raises $550 Million to Bring AI to Law Firms, 9 September 2026