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Legal AI Startup Harvey Raises $550 Million, Valuation Reaches $15.6 Billion

On September 9, legal AI startup Harvey announced the completion of a $550 million funding round, raising its valuation to $15.6 billion. The funds will primarily be used to develop its proprietary AI models. This round was co-led by Lightspeed Venture Partners and Diffusion, with new investors Sapphire Ventures and Whale Rock Capital Management also participating. To date, Harvey has raised over $1.5 billion, making it the highest-valued and largest funded legal AI startup. The company provides services to several top law firms, including well-known firms like Latham & Watkins, as well as corporate legal departments such as that of Microsoft.

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