Legal Technical Startup Harvey is in discussion to pick up more than $ 250 million in a financing round led by smaller Perkins and coatue that would appreciate it at $ 5 billion, Reuters reportedWith reference to anonymous sources.
Sequoia Capital, which the Startup’s series D $ 300 million Only three months ago it is also expected to invest in this new round, Reuters reported, adding that investors are usually attracted to the rapid traction of the startup in the market.
Harvey has enjoyed rapid growth while lawyers and law firms around the world find ways to use generative AI technology to simplify research, documentation and to investigate their data quickly. The company registered annualized Run-rate turnover of $ 75 million in April, Reuters reported.
The news comes just a few days after Harvey said that the AI models of Anthropic and Google would use, which adds to the models it uses from his Backer, OpenAi.
The report did not mention whether the Open AI Startup Fund, which supported Harvey in his life early, would also invest in this round.
Harvey, coatue, sequoia and smaller Perkins have not immediately sent back requests for comments.
