Funding round
Harvey Series B
Harvey, which works in AI-Powered legal document research services in San Francisco, raised $80M in a Series B round announced on 19 Dec 2023, led by Kleiner Perkins and Elad Gil, at a $715M post-money valuation. 4 firms took part. It is Harvey's third venture round on record; the one before was a Series A in Apr 2023.
$80M
Amount raised
$715M
Post-money valuation
$635M pre-money
4
Investors
2 leads
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Harvey at $715M after the new money. The $80M bought investors about 11% of the company. It came 8 months after Harvey's Series A. It is 4.7% of the $1.72B Harvey has raised in the venture rounds on record. Harvey raised again 7 months later: a Series C round of $100M in Jul 2024, at $1.50B post-money.
Harvey's funding rounds
Harvey has 9 venture rounds on record. This one is highlighted.
- Seed 23 Nov 2022, led by OpenAI Startup Fund $5.0M
- Series A 26 Apr 2023, led by Sequoia Capital $21M
- Series B this round 19 Dec 2023, led by Kleiner Perkins and Elad Gil $80M$715M post-money
- Series C 23 Jul 2024, led by GV $100M$1.50B post-money
- Series D 12 Feb 2025, led by Sequoia Capital $300M$3.00B post-money
- Series E 23 Jun 2025, led by Kleiner Perkins and Coatue $300M$5.00B post-money
- Series F 4 Dec 2025, led by Andreessen Horowitz $160M$8.00B post-money
- Growth 25 Mar 2026, led by GIC and Sequoia Capital $200M$11.00B post-money
- Growth 9 Sep 2026, led by Diffusion Capital Partners and Lightspeed Venture Partners $550M$15.50B post-money
Investors
Who put money in
Kleiner Perkins and Elad Gil led the round with 2 other firms.
Lead investors
- Kleiner Perkins backs 285 venture-backed companies new investor
- Elad Gil
Also in the round
- OpenAI Startup Fund new investor
- Sequoia Capital backs 589 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
541 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $25M, and this round was 3.2 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 4 Dec 2023 | $40M | not disclosed | HighlandX |
| Tech Companies | 19 Dec 2023 | $40M | not disclosed | Bain Capital Ventures |
| Tech Companies | 6 Dec 2023 | $40M | not disclosed | Salesforce Ventures and Spark Capital |
| Tech Companies | 7 Dec 2023 | $34M | not disclosed | Andreessen Horowitz |
| Tech Companies | 13 Dec 2023 | $32M | not disclosed | FUSE |
| Tech Companies | 5 Dec 2023 | $30M | not disclosed | Battery Ventures and PayPal Ventures |
| Tech Companies | 7 Dec 2023 | $22M | not disclosed | Battery Ventures |
| Tech Companies | 13 Dec 2023 | $20M | not disclosed | US Venture Partners |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Harvey raise in its Series B round?
Harvey raised $80M in its Series B round, announced in Dec 2023.
Who led Harvey's Series B round?
Kleiner Perkins and Elad Gil led it, with OpenAI Startup Fund and Sequoia Capital.
What was Harvey's valuation at the Series B round?
$715M post-money ($635M pre-money).
How does it compare with other Series B rounds in Tech Companies?
541 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $25M, and this round was 3.2 times the median.
Did Harvey raise again after this round?
Yes: a Series C round in Jul 2024 of $100M at $1.50B post-money.