Harvey

Custom AI solutions for law firms

San Francisco, California, United States

About Harvey

Harvey.ai builds custom Large Language Models (LLMs) specifically designed for top law firms to help them tackle complex legal challenges. These AI models are tailored to various legal practice areas and jurisdictions, allowing firms to enhance their efficiency and accuracy in legal work. Harvey.ai's technology includes an AI chatbot developed in collaboration with Allen & Overy, which demonstrates how their solutions can streamline operations and reduce manual workloads. The company operates on a business model that combines customization fees for developing these models with ongoing subscription fees for support and updates. Unlike many competitors, Harvey.ai focuses exclusively on the legal sector, ensuring that their products meet the unique needs of elite law firms. The goal of Harvey.ai is to transform the legal industry by providing advanced AI tools that improve decision-making and operational efficiency while maintaining high standards of data security.

San Francisco, CaliforniaHeadquarters
2022Year Founded
$200.4MTotal Funding
SERIES_CCompany Stage
Cybersecurity, LegalIndustries
201-500Employees

Risks

Over-reliance on partnerships could lead to strategic vulnerabilities if they dissolve.
LexLegis.ai's global expansion poses a competitive threat in legal research.
Rapid AI innovation and crowded CLM market may challenge Harvey's growth.

Differentiation

Harvey offers custom LLMs tailored for elite law firms' complex legal challenges.
The company provides a unified interface for legal workflows, enhancing efficiency.
Harvey's BigLaw Bench evaluates AI accuracy in legal tasks, setting industry standards.

Upsides

Partnership with Icertis enhances contract analysis and risk assessment capabilities.
Expansion into Japan with Mori Hamada Matsumoto opens new revenue streams.
Revamped GenAI Assistant improves user experience and output quality for legal professionals.

Funding

Total raised$200.39 M
Latest valuation$1.50 B
StageSERIES_C
$5
$25.00 M
SEED
3/31/2016
N/A
$66.5 K