Harvey raises $150M at a $8B valuation in its third funding round this year
Harvey, a legal tech startup, raised $150 million at an $8 billion valuation in its third funding round of 2025, more than doubling its value in under a year amid intensifying competition in the legal AI market.
Legal AI startup Harvey has secured $150 million in fresh funding led by Andreessen Horowitz, valuing the company at $8 billion. This marks Harvey's third major raise of 2025, bringing its total capital raised this year to approximately $750 million.
The San Francisco-based company, named after the protagonist from TV's Suits, provides AI tools to major law firms, including A&O Shearman and Ashurst. Harvey's valuation has more than doubled since early 2025, when it was valued at $3 billion.
Founded in 2022, Harvey now generates over $100 million in annual recurring revenue and employs 350 people. However, the startup faces increasing competition in the legal AI market from rivals, such as the Swedish startup Legora and established players including Luminance and Clio, even as more companies show interest in automating legal work for lawyers managing contracts and case files.
Ellie Ramirez-Camara is the News Editor at Data Phoenix, where she writes the daily AI newsdesk — covering model releases, research, funding rounds, and policy across the AI and machine-learning industry. She tracks announcements from labs and startups alike and distills them into clear, source-linked reporting for practitioners.
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