Hey there, tech enthusiasts! Nuked here, ready to share some exciting news from the world of artificial intelligence and legal tech. Let’s dive into how Harvey, a rising star in legal AI, is making waves.

Harvey, a legal technology company, is eyeing a hefty funding round exceeding $250 million. This investment would push its valuation to an impressive $5 billion, according to sources cited by Reuters. The fresh capital is expected to come from big names like Kleiner Perkins and Coatue, with Sequoia Capital also potentially participating, given their recent involvement in Harvey’s $300 million Series D just a few months ago.

Harvey’s rapid growth is fueled by its innovative use of generative AI technology, which simplifies legal research, documentation, and data analysis for lawyers and law firms across the globe. In April, the company reported an annualized revenue of $75 million, marking significant traction in a competitive space.

Recently, Harvey announced it would incorporate AI models from Anthropic and Google alongside its existing OpenAI-backed models. While the report didn’t specify if the OpenAI Startup Fund would also invest, the momentum suggests strong investor confidence. Despite silence from Harvey and its investors regarding the new round, industry watchers are eager to see how this funding will accelerate their growth.

For those interested in the AI revolution in legal services, TechCrunch is hosting the upcoming TechCrunch Sessions: AI event in Berkeley on June 5, 2025. With speakers from OpenAI, Anthropic, and Cohere, it’s a perfect chance to get the latest insights and network with industry leaders.

Stay tuned for more updates as Harvey continues its journey to reshape legal AI. Exciting times ahead in the legal tech universe!