San Francisco-based legal AI startup Harvey closed a $550 million funding round on September 9, pushing its valuation to $15.6 billion, up from $11 billion just six months ago. The company’s annual recurring revenue has surpassed $400 million, roughly doubling since March. Around 80% of the Am Law 100, the ranking of the largest US law firms by revenue, now use the platform, including Microsoft and other Fortune 10 companies. Harvey also announced the acquisition of Guardrails AI, a startup focused on AI agent security. Founded in February 2025 at a $3 billion valuation, Harvey’s valuation has more than quintupled in under two years.
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