# Harvey revenue, valuation & funding

Markdown copy of https://realalpha.app/companies/harvey/ on Real Alpha, the best minutes from long interviews with the people building AI. Cite and link the page, not this copy.

Harvey was valued at $15.5B when it raised $550M in September 2026, and it had passed a reported $400M in annual recurring revenue that month. It's a private company with no IPO filing, though its CEO said in October 2025 that a listing was on the horizon.

Checked Nov 7, 2026

## At a glance

- Valuation: $15.5B at its latest round, a $550M raise announced in September 2026. Bloomberg put the round at $15.6 billion.
- Revenue: more than $400M in annual recurring revenue by September 2026, as reported. It's a run rate, which isn't audited revenue.
- Status: private. No stock ticker and no IPO filing as of October 2026.
- Founded: summer 2022, by Winston Weinberg and Gabe Pereyra.
- CEO: [Winston Weinberg](https://realalpha.app/builders/winston-weinberg/).
- Investors: Sequoia, Kleiner Perkins, a16z, Coatue, GIC, Lightspeed, Diffusion and the OpenAI Startup Fund, among others.
- Products: a legal AI platform with Agents, Vault and Knowledge, apps such as Contract Intelligence, and its own model, Harvey Tenet.
- Headquarters: San Francisco, California.
- On Real Alpha: 13 moments of its people talking, from 2 interviews

## Is Harvey public? Can you buy its stock?

No. Harvey is a private company, so its shares don't trade on any stock exchange and it has no ticker symbol. It had not filed for an IPO as of October 2026, according to [Revenue Memo](https://www.revenuememo.com/p/harvey-funding).

[Winston Weinberg](https://realalpha.app/builders/winston-weinberg/) is the co-founder and CEO. He told The Lawyer in October 2025 that a listing was "on the horizon," as [Revenue Memo](https://www.revenuememo.com/p/harvey-funding) reports. No timeline has been announced.

Until then, its shares are held by its founders, staff and investors. Its first tender offer ran alongside the December 2025 round and let some long-tenured employees sell shares, per [Revenue Memo](https://www.revenuememo.com/p/harvey-funding). The size wasn't disclosed. This page reports facts and gives no investment advice.

## Valuation, round by round

Harvey's valuation went from $8B in December 2025 to $15.5B in September 2026, nearly doubling in about nine months.

- Sep 2026 · $15.5B · $550M · Diffusion and Lightspeed Venture Partners · [Harvey's blog](https://www.harvey.ai/blog/harvey-raises-dollar550m-at-a-dollar155b-valuation-to-help-legal-teams-own-their-intelligence)
- Feb 2026 · $11B · In talks · — · [Forbes](https://www.forbes.com/sites/iainmartin/2026/02/09/legal-ai-startup-harvey-in-talks-to-raise-200-million-at-11-billion-valuation/)
- Dec 2025 · $8B · $160M · Andreessen Horowitz · [TechCrunch](https://techcrunch.com/?p=3072831)

Forbes reported the $11B round in talks in February 2026, and it is said to have closed in March, but we found no primary report of the close. Earlier rounds, from a $5M seed in November 2022 to a $5B Series E in June 2025, appear only on data sites and aren't confirmed.

## Revenue

Reporters put Harvey's annual recurring revenue at $100M in August 2025 and more than $400M by September 2026, about four times in a year.

- Sep 2026 · $400M · Reported · [Revenue Memo](https://www.revenuememo.com/p/harvey-funding)
- Aug 2026 · $350M+ · Reported · [The Next Web](https://thenextweb.com/news/harvey-legal-ai-15-5bn-valuation-500m-raise-vertical-ai)
- Aug 2026 · $400M · Estimate · [Sacra](https://sacra.com/c/harvey/)
- Jan 2026 · $190M · Reported · [Revenue Memo](https://www.revenuememo.com/p/harvey-funding)
- Aug 2025 · $100M · Reported · [Revenue Memo](https://www.revenuememo.com/p/harvey-funding)

ARR and annualised revenue are a month's revenue times twelve. Neither is audited revenue. The $400M for August 2026 is Sacra's estimate, while The Information put the figure above $350m that month.

## How Harvey makes money

Harvey sells seats to law firms and in-house legal teams. Per [Sacra](https://sacra.com/c/harvey/), accounts typically start with a few hundred licenses for research, drafting and diligence.

- **Pricing.** Sacra estimates the base offering starts at $1,200 per lawyer per month, with 12-month commitments and roughly 20-seat minimums. · [Sacra](https://sacra.com/c/harvey/)
- **Falling margins.** Bloomberg reported in September 2026 that gross margin fell from about 50% at the start of the year to about negative 50% by June. Its source was a person familiar with the figures. · [Revenue Memo](https://www.revenuememo.com/p/harvey-funding)
- **A turn after Tenet.** Bloomberg reported that margins turned positive after Harvey's own model launched in August 2026, along with other changes to how it uses AI. Harvey declined to comment on specific financials. · [Under Current](https://undercurrentnow.substack.com/p/harveys-product-worked-thats-why)

## Products

Harvey sells a legal AI platform and apps built on it. It bought Hexus in January 2026, the Lume AI team in March, Benchmark in July and Guardrails AI in September.

Aida, a sales execution platform, followed in October as its fifth acquisition of 2026, [Dealroom](https://dealroom.co/news/168111-harvey-snaps-up-aida-in-its-fifth-acquisition-of-2026/) reports.

- **Platform.** Agents, Vault, Knowledge, Spaces, Command Center, Memory and Legal Work Orchestration, as listed on Harvey's site. · [Harvey](https://www.harvey.ai)
- **Apps.** Contract Intelligence, Horizon Scanning, Intake, and Facts & Chronologies. · [Harvey](https://www.harvey.ai)
- **Agent Builder** (March 2026). A no-code tool for firms to build their own task-specific agents. · [Sacra](https://sacra.com/c/harvey/)
- **Harvey Tenet** (August 2026). Its first in-house model, built from the open-weight Kimi K3 and post-trained on legal data with [Fireworks](https://realalpha.app/companies/fireworks-ai/). · [TechCrunch](https://techcrunch.com/2026/09/09/harvey-hits-15-5b-valuation-months-after-reaching-11b/)
- **Harvey on Azure** (May 2024). Harvey launched its products on [Microsoft](https://realalpha.app/companies/#microsoft) Azure and said it would offer this version going forward. · [Wikipedia](https://en.wikipedia.org/wiki/Harvey_(software))

## Customers

Harvey says it is used by more than 3,500 customers in more than 85 countries, on its [company page](https://www.harvey.ai/company). That page doesn't date the figure.

At its September 2026 funding announcement, [Harvey](https://www.harvey.ai/blog/harvey-raises-dollar550m-at-a-dollar155b-valuation-to-help-legal-teams-own-their-intelligence) said 80% of Am Law 100 law firms use it. Five of the Fortune 10 do too, it said.

Allen & Overy said in February 2023 that it had been trialing Harvey since November 2022 within its Markets Innovation Group, according to Wikipedia.

## Leadership

The two founders were roommates in Los Angeles and started Harvey in the summer of 2022, according to [Sacra](https://sacra.com/c/harvey/).

- **[Winston Weinberg](https://realalpha.app/builders/winston-weinberg/),** co-founder and CEO. He was a securities and antitrust litigator at O'Melveny & Myers. · [Sacra](https://sacra.com/c/harvey/)
- **[Gabe Pereyra](https://realalpha.app/builders/gabe-pereyra/),** co-founder and president. He was a research scientist at Google DeepMind and Meta AI. · [Wikipedia](https://en.wikipedia.org/wiki/Harvey_(software))
- **Keith Enright,** chief strategy officer since March 2026. He was a partner at Gibson Dunn and earlier Google's chief privacy officer. · [Artificial Lawyer](https://www.artificiallawyer.com/2026/03/23/harvey-hires-gibson-dunn-partner-as-cso/)
- **Gordon Moodie,** a Wachtell Lipton corporate partner who joined as chief product officer in July 2023. · [Wikipedia](https://en.wikipedia.org/wiki/Harvey_(software))

## Who owns Harvey?

Its founders, staff and investors. No investor's stake has been disclosed, according to [Revenue Memo](https://www.revenuememo.com/p/harvey-funding).

Wikipedia names Counsel AI Corporation as the company that develops Harvey.

- **Sequoia** is its most consistent backer. It led the Series A and Series D and co-led the March 2026 round. · [Revenue Memo](https://www.revenuememo.com/p/harvey-funding)
- **Diffusion and Lightspeed Venture Partners** co-led the $550M round in September 2026. · [Harvey's blog](https://www.harvey.ai/blog/harvey-raises-dollar550m-at-a-dollar155b-valuation-to-help-legal-teams-own-their-intelligence)
- **Kleiner Perkins, a16z, Coatue, Conviction, Elad Gil, GIC and Goldman Sachs Alternatives** were among the existing investors in the September 2026 round. Sapphire Ventures and Whale Rock joined as new ones. · [Harvey's blog](https://www.harvey.ai/blog/harvey-raises-dollar550m-at-a-dollar155b-valuation-to-help-legal-teams-own-their-intelligence)
- **Andreessen Horowitz** led the $160M round at an $8B valuation in December 2025. · [TechCrunch](https://techcrunch.com/?p=3072831)
- **Goldman Sachs and JPMorgan** made a strategic investment in the weeks before August 7, 2026. The amount wasn't disclosed. · [The Next Web](https://thenextweb.com/news/harvey-legal-ai-15-5bn-valuation-500m-raise-vertical-ai)
- **GV, EQT and the OpenAI Startup Fund** are among the backers listed on Harvey's company page. · [Harvey](https://www.harvey.ai/company)

## Competitors

Harvey and Legora have raised large sums and moved into each other's markets. [TechCrunch](https://techcrunch.com/2026/04/30/legal-ai-startup-legora-hits-5-6-valuation-and-its-battle-with-harvey-just-got-hotter/) wrote in April 2026 that the two "now have dueling ad campaigns."

- **[Legora](https://realalpha.app/companies/legora/),** a Swedish-born legal AI startup that TechCrunch reported at a $5.6B valuation in April 2026. · [TechCrunch](https://techcrunch.com/2026/04/30/legal-ai-startup-legora-hits-5-6-valuation-and-its-battle-with-harvey-just-got-hotter/)
- **[Anthropic](https://realalpha.app/companies/anthropic/),** which Sacra says moved into direct competition with Harvey by launching a legal plugin. · [Sacra](https://sacra.com/c/harvey/)
- **CoCounsel, ROSS Intelligence and Blue J Legal,** listed by Sacra as direct rivals in enterprise legal AI. CoCounsel came from Casetext, which Thomson Reuters bought. · [Sacra](https://sacra.com/c/harvey/)

## Timeline and latest news

- Oct 29, 2026 · Acquired Aida, an AI-native sales execution platform, its fifth acquisition of 2026. · [Dealroom](https://dealroom.co/news/168111-harvey-snaps-up-aida-in-its-fifth-acquisition-of-2026/)
- Sep 9, 2026 · Raised $550M at a $15.5B valuation, co-led by Diffusion and Lightspeed Venture Partners. · [Harvey's blog](https://www.harvey.ai/blog/harvey-raises-dollar550m-at-a-dollar155b-valuation-to-help-legal-teams-own-their-intelligence)
- Aug 7, 2026 · The Information reported annualised revenue above $350m, up over 80% from $190m in January. · [The Next Web](https://thenextweb.com/news/harvey-legal-ai-15-5bn-valuation-500m-raise-vertical-ai)
- Aug 2026 · Announced Harvey Tenet, its first in-house model, built from Kimi K3. · [TechCrunch](https://techcrunch.com/2026/09/09/harvey-hits-15-5b-valuation-months-after-reaching-11b/)
- Aug 2026 · Took a strategic investment from Goldman Sachs and JPMorgan. The amount wasn't disclosed. · [The Next Web](https://thenextweb.com/news/harvey-legal-ai-15-5bn-valuation-500m-raise-vertical-ai)
- Mar 23, 2026 · Hired Keith Enright, a former Gibson Dunn partner, as chief strategy officer. · [Artificial Lawyer](https://www.artificiallawyer.com/2026/03/23/harvey-hires-gibson-dunn-partner-as-cso/)
- Feb 9, 2026 · Forbes reported Harvey in talks to raise $200M at an $11B valuation. · [Forbes](https://www.forbes.com/sites/iainmartin/2026/02/09/legal-ai-startup-harvey-in-talks-to-raise-200-million-at-11-billion-valuation/)
- Jan 23, 2026 · Acquired Hexus, a startup building product demo, video and guide tools. · [TechCrunch](https://techcrunch.com/2026/01/23/legal-ai-giant-harvey-acquires-hexus-as-competition-heats-up-in-legal-tech/)
- Dec 4, 2025 · Confirmed a $160M round at an $8B valuation, led by Andreessen Horowitz. · [TechCrunch](https://techcrunch.com/?p=3072831)
- Oct 2025 · Winston Weinberg told The Lawyer that a listing was on the horizon. · [Revenue Memo](https://www.revenuememo.com/p/harvey-funding)
- Aug 2025 · Passed $100M in annual recurring revenue. · [Revenue Memo](https://www.revenuememo.com/p/harvey-funding)
- Feb 2023 · Allen & Overy said it had been trialing Harvey since November 2022. · [Wikipedia](https://en.wikipedia.org/wiki/Harvey_(software))

## In their own words, and what followed

- [AI agents expand software into labor markets](https://realalpha.app/s/ai-agents-expand-software-into-labor-markets/) · Bret Taylor · The Logan Bartlett Show · Sep 12, 2025
  > “Harvey is a company I really admire.”
  Reported after · In December 2025 Harvey confirmed a $160M round at an $8B valuation, led by Andreessen Horowitz. · [TechCrunch](https://techcrunch.com/?p=3072831)

- [AI is expanding contact-center demand while capital delays consolidation](https://realalpha.app/s/ai-is-expanding-contact-center-demand-while-capital-delays/) · Bret Taylor · Grit · Mar 9, 2026
  > “the legal AI agent market is maturing. You know, we're really close to Harvey”
  Reported after · In September 2026 TechCrunch reported Harvey at $15.5B, nearly doubling its valuation in about nine months. · [TechCrunch](https://techcrunch.com/2026/09/09/harvey-hits-15-5b-valuation-months-after-reaching-11b/)

- [Frontier labs capture the revenue, but open source may carry most tokens](https://realalpha.app/s/frontier-labs-capture-the-revenue-but-open-source-may-carry/) · Gavin Baker · BG2 · Jun 11, 2026
  > “Frontier might be 90% of the economic value. Open source might be 80% of tokens.”
  Reported after · In August 2026 Harvey announced Harvey Tenet, its first in-house model, built from the open-weight Kimi K3. · [TechCrunch](https://techcrunch.com/2026/09/09/harvey-hits-15-5b-valuation-months-after-reaching-11b/)

## What others say about Harvey

- [Harvey raised its legal benchmark score from 4% to 18%](https://realalpha.app/s/harvey-raised-its-legal-benchmark-score-from-4-to-18/) · Ronak Malde · Training Data · Nov 5, 2026
- [Vertical agents should start with context and harness, not custom models](https://realalpha.app/s/vertical-agents-should-start-with-context-and-harness-not/) · Harrison Chase · 20VC · Oct 17, 2026
  > “We're seeing a lot, whether it's Harvey or I think it's Ramp, build their own models.”
- [Model ownership matters for some workflows, not all](https://realalpha.app/s/model-ownership-matters-for-some-workflows-not-all/) · Erik Bernhardsson · 20VC · Nov 2, 2026
  > “We have Harvey who says that it's fantastic”
- [AI market leadership can shift despite consensus investing](https://realalpha.app/s/ai-market-leadership-can-shift-despite-consensus-investing/) · Matthew Harris · How I Invest · Oct 26, 2026
  > “Harvey had won.”

## Questions people ask

### Is Harvey a public company? Can I buy Harvey stock?

No. Harvey is private and has no ticker, so its shares aren't sold on any exchange. It hadn't filed for an IPO as of October 2026.

### When will Harvey IPO?

No date has been set. Winston Weinberg told The Lawyer in October 2025 that a listing was "on the horizon," per [Revenue Memo](https://www.revenuememo.com/p/harvey-funding).

### Who owns Harvey?

Its founders, staff and investors, including Sequoia, Kleiner Perkins, a16z, Coatue, GIC, Lightspeed and Diffusion. No stake has been disclosed.

### Who is the CEO of Harvey?

[Winston Weinberg](https://realalpha.app/builders/winston-weinberg/), a co-founder and former securities and antitrust litigator at O'Melveny & Myers.

### Who founded Harvey?

Winston Weinberg and Gabe Pereyra, in the summer of 2022. Pereyra, now president, was a research scientist at Google DeepMind and Meta AI.

### How much is Harvey worth?

$15.5B at its latest round, a $550M raise announced in September 2026 by [Harvey](https://www.harvey.ai/blog/harvey-raises-dollar550m-at-a-dollar155b-valuation-to-help-legal-teams-own-their-intelligence). Bloomberg put the round at $15.6 billion.

### How much revenue does Harvey make?

More than $400M in annual recurring revenue by September 2026, as [Revenue Memo](https://www.revenuememo.com/p/harvey-funding) reports, citing The Next Web. That's up from about $190M in January 2026.

### Is Harvey profitable?

Harvey declined to comment on specific financials. Bloomberg reported in September 2026 that its gross margin had fallen to about negative 50% by June, per [Revenue Memo](https://www.revenuememo.com/p/harvey-funding). Margins later turned positive, Bloomberg reported.

### How does Harvey make money?

It sells seats on its legal AI platform. [Sacra](https://sacra.com/c/harvey/) estimates the base offering starts at $1,200 per lawyer per month, with 12-month commitments.

### How many customers does Harvey have?

Harvey says more than 3,500 customers in more than 85 countries use it. It also says 80% of Am Law 100 firms do, on its [blog](https://www.harvey.ai/blog/harvey-raises-dollar550m-at-a-dollar155b-valuation-to-help-legal-teams-own-their-intelligence).

## Every moment from Harvey's people

### Inside Harvey AI: CEO Winston Weinberg on How a 4-Year-Old Company Is Taking on the Foundation Labs
Sourcery · Jun 16, 2026

- [Harvey reinvents its org every six months](https://realalpha.app/s/harvey-reinvents-its-org-every-six-months/) · 4 min
- [AI companies need faster decisions and relentless product work](https://realalpha.app/s/ai-companies-need-faster-decisions-and-relentless-product/) · 3 min
- [Vertical AI can show the return on every token](https://realalpha.app/s/vertical-ai-can-show-the-return-on-every-token/) · 4 min
- [Harvey uses synthetic legal data to train models](https://realalpha.app/s/harvey-uses-synthetic-legal-data-to-train-models/) · 5 min
- [Lawyers joining Harvey must adjust to performance-based exits](https://realalpha.app/s/lawyers-joining-harvey-must-adjust-to-performance-based/) · 2 min

### How AI Breakout Harvey is Transforming Legal Services, with CEO Winston Weinberg
Training Data · Mar 11, 2025

- [Harvey builds specialized workflows, then unifies them](https://realalpha.app/s/harvey-builds-specialized-workflows-then-unifies-them/) · 3 min
- [Legal AI needs process data and expert evaluation](https://realalpha.app/s/legal-ai-needs-process-data-and-expert-evaluation/) · 4 min
- [Prestige and tailored demos help firms trust new AI](https://realalpha.app/s/prestige-and-tailored-demos-help-firms-trust-new-ai/) · 3 min
- [Harvey is moving from seat sales to selling legal work](https://realalpha.app/s/harvey-is-moving-from-seat-sales-to-selling-legal-work/) · 6 min
- [Law firm review layers change AI’s minimum quality bar](https://realalpha.app/s/law-firm-review-layers-change-ais-minimum-quality-bar/) · 2 min
- [Routine legal work may shift to fixed fees as advice gains value](https://realalpha.app/s/routine-legal-work-may-shift-to-fixed-fees-as-advice-gains/) · 3 min
- [Legal rules limit access, but some states are testing changes](https://realalpha.app/s/legal-rules-limit-access-but-some-states-are-testing-changes/) · 3 min
- [Harvey tests multiple models instead of relying on one](https://realalpha.app/s/harvey-tests-multiple-models-instead-of-relying-on-one/) · 3 min

## People on Real Alpha

- [Winston Weinberg](https://realalpha.app/builders/winston-weinberg/), Co-founder & CEO, Harvey
- [Gabe Pereyra](https://realalpha.app/builders/gabe-pereyra/), Co-founder & President, Harvey

## How this page is sourced

Each figure links to the filing, company statement or news report it came from, with its date. Run rates are what reporters were told, not audited results; estimates and unconfirmed reports are marked. Quotes are what each person said on the record, with the minute they said it.