Legal AI startup Harvey seeks $500 million at $15.5 billion valuation

Harvey, a legal AI company, is trying to raise at least $500 million at a valuation of $15.5 billion. Talks began in August 2026. The new valuation is 40% higher than the $11 billion figure set just five months earlier. Lightspeed Venture Partners is interested in leading the round. Harvey's annual recurring revenue has grown to around $300 million, up from $190 million at the end of 2025. The company has more than 1,300 customers in 60 countries and has built over 25,000 custom AI agents. Harvey helps law firms with tasks like reviewing contracts and checking compliance. Goldman Sachs and J.P. Morgan also made investments in late July 2026.