Harvey Raises $21M in Series A Funding to Revolutionize Professional Services with AI

Harvey Raises $21M in Series A Funding to Revolutionize Professional Services with AI
Image Credit: Harvey

Harvey, a generative AI legal tech startup, is on a mission to redefine professional services by leveraging the power of large language models (LLMs). The company recently raised $21 million in a Series A funding round led by Sequoia Capital, with participation from the OpenAI Startup Fund, Conviction, SV Angel, and Elad Gil.

This funding round follows Harvey's initial $5 million seed funding round in November 2022, which also included OpenAI as a key investor. Since its inception, Harvey has caught the attention of top-tier clients and partners, boasting global law firm Allen & Overy as its first enterprise client. The firm integrated Harvey into its practice, with over 3,500 lawyers across 43 offices operating in multiple languages relying on the AI-driven platform. Harvey also secured a strategic alliance with PwC, granting its Legal Business Solutions professionals exclusive access to the platform among the Big 4. With more than 15,000 law firms on their waitlist, Harvey is poised for rapid growth.

Initially focused on law firms, Harvey has since expanded its ambition to redefine all professional services and knowledge work. Using OpenAI's GPT-4, the company aims to provide custom AI solutions that enable knowledge workers to focus on strategy, advice, and judgment, enhancing their capabilities and efficiency.

In a recent announcement, Harvey's founders, Gabriel Pereyra and Winston Weinberg, expressed their commitment to revolutionizing the industry: "We believe that the future of AI in professional services is not just about complementing existing workflows, but about fundamentally changing how work is done, allowing professionals to focus on the most valuable aspects of their jobs."

With the new funding in hand, Harvey is set to scale its team, deepen its partnerships, and build cutting-edge AI systems for the future of professional services. As the first company built on top of OpenAI's GPT-4 technology, Harvey is at the forefront of harnessing the potential of LLMs to transform industries. The startup's ambitious vision and substantial financial backing suggest a bright future as it continues to drive innovation and redefine the professional services landscape.

Chris McKay is the founder and chief editor of Maginative. His thought leadership in AI literacy and strategic AI adoption has been recognized by top academic institutions, media, and global brands.

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