(Bloomberg) -- Sequoia Capital is in talks to lead a $300 million funding round for Harvey, a San Francisco-based startup developing generative artificial intelligence tools for law firms, according to people familiar with the matter. The round values the company at $3 billion, one of the people said.
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Sequoia declined to comment. A representative for Harvey did not immediately respond to a request for comment. The people familiar with the matter asked not to be identified discussing private information.
Harvey has raised more than $200 million to date and was valued at $1.5 billion in 2024, according to PitchBook data. Its investors include the OpenAI Startup Fund, Elad Gil and Kleiner Perkins. Sequoia first invested in Harvey in 2023.
The company operates in an increasingly crowded space, competing with other well funded legal AI companies like EvenUp Inc. and Robin AI.
Harvey, officially known as Counsel AI Corp., is named after the lead character of the legal drama Suits, its Chief Executive Officer Winston Weinberg previously told Bloomberg.
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