Harvey Raises $550M at $15.6B, Co-Led by Lightspeed and Diffusion

Legal-AI startup Harvey closed a $550 million round at a $15.6 billion valuation, Bloomberg's Rebecca Torrence reported, up from the $11 billion mark it hit in March on a $200 million raise.

Lightspeed Venture Partners co-led with Diffusion, a new firm cofounded by former Coatue Management investor Kris Fredrickson. Sapphire Ventures and Whale Rock Capital Management joined alongside existing backers including Sequoia, Kleiner Perkins, a16z and Coatue. Harvey has now raised more than $1.5 billion in total.

The company says annual recurring revenue is above $400 million and its customer count has grown from roughly 1,300 organizations in March to more than 3,000. Alongside the raise, Harvey announced its fourth acquisition of 2026 — Guardrails AI, described as "an AI security platform for agents," whose cofounders Shreya Rajpal and Zayd Simjee "and their team will join Harvey's product and engineering organisation."

Proceeds are earmarked for building models in-house. Harvey has already shipped Tenet, its first fine-tuned legal model, built on top of Moonshot AI's open-weight Kimi K3. "All software companies need to turn into AI companies, full stop," chief executive Winston Weinberg told Bloomberg. "Post-training models are going to be part of that process."

The deal lands into a busy stretch of steep up-rounds in our funding coverage, one of 426 funding stories we've tracked in the last 90 days, and cements Harvey as the reference-price asset in vertical AI.