Harvey is valued at $15.5 billion, with annual revenue surging over 80%

According to Seeking Alpha monitoring, legal AI company Harvey is in talks to raise at least $5 billion, with a post-money valuation of $155 billion. If the deal goes through, the valuation will increase by about 40% from the $110 billion valuation in March.

Even more impressive is the revenue growth. Harvey's annual revenue has already exceeded $350 million, up from $190 million in January, representing a growth of over 80% in just over six months. The company primarily sells AI tools to law firms and corporate legal departments for contract review, due diligence, compliance, and litigation.

In March, Harvey raised $2 billion at a valuation of $110 billion; the valuation was $80 billion in December last year. If the new round goes as planned, the valuation will nearly double in just eight months.