Harvey’s platform uses AI agents to reduce manual effort for lawyers by running complete workflows for high-volume and increasingly complex tasks.

AI legal-tech start-up Harvey has raised $200m at a valuation of $11bn.

The new funds will be used to further develop the company’s AI agents for legal firms and in-house legal departments, and grow the engineering teams that support them.

The funding round was co-led by returning investors GIC and Sequoia, with participation from existing investors Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Evantic and Kleiner Perkins.

Harvey’s platform uses AI agents to reduce manual effort for lawyers by running complete workflows for high-volume and increasingly complex tasks, according to the company, which has now raised more than $1bn to date.

“AI isn’t just assisting lawyers. It’s becoming the system through which legal work gets done,” said Winston Weinberg, CEO and co-founder of Harvey.

“The law firms and in-house teams leading the way are building agents that execute complex workflows so lawyers can focus on judgement, strategy and outcomes.”

The company said it runs more than 25,000 custom agents executing work in fields such as contracts, compliance, litigation, due diligence, and mergers and acquisitions.

“Harvey has become the platform on which legal work runs,” said Pat Grady, partner at Sequoia.

“More than 100,000 lawyers around the world run their most critical work on Harvey, and we believe it’s positioned to become one of the most important companies of the next decade.”

Harvey was founded in 2022 and is based in San Francisco. It claims more than 1,300 organisations as customers – including global law firms and Fortune 500 enterprises – in more than 60 countries around the world.

In January, Harvey began hiring for roles at a new Dublin office. At the end of last year, the company was valued at $8bn.

The legal-tech start-up sector is a lively one at the moment.

Two weeks ago, Swedish player Legora announced a Series D raise of $550m, bringing the company’s valuation to $5.55bn.

Last November, Canadian company Clio closed a $500m Series G funding round, taking it to a $5bn valuation, and also unveiled its plans for an office in Dublin.

Norwegian software company Newcode will also open a Dublin office after raising more than $6.5m this week, adding to its existing locations in the US and Europe.

And last November, Ireland and UK-based company TrialView secured $4.1m in a growth funding round led by Elkstone Ventures.

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