Krux
March 26, 2026
Legal AI Startup Harvey Jumps to $11B in a Year
Published: March 26, 2026 at 12:33 AM
Updated: March 26, 2026 at 12:33 AM
100-word summary
Harvey is reportedly raising $200 million at an $11 billion valuation, led by Sequoia and Singapore's GIC, though the deal hasn't closed. The legal AI company hit $3 billion in February 2025, then $5 billion in June, $8 billion in December, and now $11 billion just two months later. That's nearly quadrupling in twelve months while reaching $190 million in annual revenue. The velocity suggests law firms are paying real money to automate document review and legal research faster than almost anyone predicted. Sequoia betting this big on vertical AI shows the land grab isn't in consumer chatbots anymore, it's in software that replaces $500-an-hour associates.
What happened
Harvey is reportedly raising $200 million at an $11 billion valuation, led by Sequoia and Singapore's GIC, though the deal hasn't closed. The legal AI company hit $3 billion in February 2025, then $5 billion in June, $8 billion in December, and now $11 billion just two months later. That's nearly quadrupling in twelve months while reaching $190 million in annual revenue. The velocity suggests law firms are paying real money to automate document review and legal research faster than almost anyone predicted.
Why it matters
Sequoia betting this big on vertical AI shows the land grab isn't in consumer chatbots anymore, it's in software that replaces $500-an-hour associates.