Superpower Daily

Superpower Daily

Your reading space

Sign in
Cerberus Wins Central Eurasia Startup Final as Three AI Teams A...GSA Sets October Shift to Zero-Fee, Usage-Based OpenAI PricingHarvey Raises $550 Million Series H at $15.5 Billion ValuationUAE Pledges €40 Billion to Germany, Including 1 GW of Data Cent...Alex Sobel Tables UK Bill to Ban Superintelligence as Governmen...Roblox Adds AI Game Tools and Plans Browser and Standalone Game...Cerberus Wins Central Eurasia Startup Final as Three AI Teams A...GSA Sets October Shift to Zero-Fee, Usage-Based OpenAI PricingHarvey Raises $550 Million Series H at $15.5 Billion ValuationUAE Pledges €40 Billion to Germany, Including 1 GW of Data Cent...Alex Sobel Tables UK Bill to Ban Superintelligence as Governmen...Roblox Adds AI Game Tools and Plans Browser and Standalone Game...
Swipe

Harvey Raises $550 Million Series H at $15.5 Billion Valuation

An SEC filing later recorded $550.3 million in equity sold to 28 investors, but not the valuation or investor identities behind the legal AI company’s new round.

By 2 min read
Harvey Raises $550 Million Series H at $15.5 Billion Valuation
Harvey Raises $550 Million Series H at $15.5 Billion Valuation

Listen to this story

The audio brief

About 1:38
0:001:38
Read transcript
Harvey has raised five hundred fifty million dollars at a fifteen-point-five-billion-dollar valuation, just months after its last major financing. The legal AI company announced the Series H on September ninth, saying the round was co-led by Diffusion and Lightspeed Venture Partners. That takes Harvey’s reported total funding above one-point-five-five billion dollars, following a two-hundred-million-dollar raise in March at an eleven-billion-dollar valuation. The public filing adds useful detail, but also some important limits. Harvey AI Corp filed a Form D with the SEC on September eleventh for an exempt offering under Rule 506(b). It records August twenty-eighth as the first sale, and shows five hundred fifty-point-three million dollars in equity sold to twenty-eight investors. But the filing does not name those investors, confirm the fifteen-point-five-billion-dollar valuation, or identify the financing as Series H. Its total offering amount is listed as indefinite, so it also leaves open whether Harvey could sell additional securities. Lightspeed says the new capital will support product development, post-training, and Harvey’s global team. The investor also says eighty of the Am Law 100 use the platform, though that adoption figure comes from Lightspeed rather than an independent disclosure. So the headline valuation comes from Harvey and investor accounts, while the filing confirms only the amount sold and the buyer count. The key thing to watch is whether more securities are sold—and what further details, if any, emerge about the round’s investors and terms.

Story brief

3 key points

Harvey’s latest financing lifts its private-market valuation from $11 billion in March to $15.5 billion, giving the legal-AI company more capital for product development, post-training, and international expansion. Lightspeed says 80 of the Am Law 100 use the platform, though that adoption figure comes from the investor rather than an independent disclosure. Public filings confirm $550.3 million sold to 28 investors...

  1. 01

    Diffusion and Lightspeed Venture Partners co-led the Series H, according to investor and media accounts.

  2. 02

    Harvey announced the financing September 9; its Form D was filed September 11, listing August 28 as the first sale.

  3. 03

    The filing’s total offering amount is indefinite, so it does not establish whether Harvey may sell additional securities.

Harvey has raised $550 million at a $15.5 billion valuation, adding another large financing to the legal AI company’s rapid run of private-market deals. The September 9 announcement described the round as a Series H, while a later SEC filing listed $550.3 million in equity sold to 28 investors.

Diffusion and Lightspeed Venture Partners co-led the round, according to TechCrunch; Lightspeed separately said it was co-leading Harvey’s Series H. Harvey said the financing takes its total funding above $1.55 billion. It follows a $200 million round announced in March at an $11 billion valuation.

A filing follows the announcement

Harvey AI Corp filed a new Form D notice on September 11 for an exempt equity offering under Rule 506(b). The filing lists August 28 as the first-sale date and reports $550,299,446 sold. Its total offering amount is marked indefinite, so the document does not indicate whether further securities could be sold.

What the new capital is meant to fund

Lightspeed said the money will support Harvey’s product, post-training and global team. The investor framed that work around helping law firms and in-house legal departments build and own intelligence shaped by their work, standards and judgment, rather than relying only on broadly available models.

A higher price, with key terms still private

The Form D does not name the investors, state a valuation or label the financing stage. Those limits leave the September announcement and investor accounts as the source for the $15.5 billion valuation and Series H designation. Lightspeed also said 80 of the Am Law 100 use Harvey, an adoption figure supplied by the lead investor as the company adds capital for its next stage.

Sources

  1. lsvp.comHelping Legal Teams Own Their Intelligence: Our Series H Investment in Harvey
  2. sec.govHarvey AI Corp files Form D notice for an exempt funding offering
  3. techcrunch.comHarvey hits $15.5B valuation, months after reaching $11B | TechCrunch

Loading discussion...

Related coverage

Continue reading