The round
Harvey, the AI legal assistant company founded by Winston Weinberg and Gabriel Pereyra, announced Wednesday that it has closed a $300 million Series E led by Sequoia Capital, valuing the company at $5 billion post-money.
The round, which also included participation from Kleiner Perkins, GV, and existing investors, brings Harvey total funding to $792 million and represents a roughly 2x valuation increase from its February raise.
What it tells us
The valuation reflects Harvey continued enterprise momentum: the company now serves more than 380 law firms, including 19 of the global top 25, and has reportedly grown ARR to north of $115 million.
It also reflects investor conviction that the legal AI market is consolidating around two or three winners, rather than fragmenting across vertical specialties.