A legal AI startup, Harvey, closed a new funding round at an $11 billion valuation, raising $200 million and marking another milestone for sector-specific AI applications.

Harvey’s $11 billion valuation puts it among AI startups crossing the $10 billion threshold, signaling investor enthusiasm for specialized legal AI beyond model-centric plays.

The funding round was led by Singapore’s GIC and Sequoia, with participation from Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Evantic, and Kleiner Perkins.

CEO Winston Weinberg described Harvey’s rapid growth and the long, wild journey since inception in an interview with TechCrunch.

Sequoia has co-led three of Harvey’s rounds since its Series A, reflecting unusually strong faith from the venture firm, as noted by partner Pat Grady.

Harvey’s client roster includes global firms and enterprises like NBCUniversal and HSBC, with annual recurring revenue reaching $190 million as of January, up from $100 million in August 2025.

Harvey was founded in 2022 by Winston Weinberg and Gabe Pereyra to develop AI tools for contract analysis, compliance, due diligence, and litigation used by over 100,000 lawyers across more than 1,300 organizations.

Prior rounds valued Harvey at $3 billion, $5 billion, and $8 billion in December, June, and February 2025 respectively, underscoring a rapid valuation ascent.

The company plans to deploy the fresh capital to build autonomous AI agents and to expand embedded legal engineering teams worldwide.

Total funding for Harvey now exceeds $1 billion, with the valuation up more than 3.5x in roughly a year.