Harvey reported in talks to raise at least $500M at a $15.5B valuation
- Raised
- $500M
- Valuation
- $16B
- Place in VP50
- #18
- Sources
- 2
What happened
The Information reported on August 7, 2026 that Harvey was in talks to raise new funding at a $15.5 billion valuation. Dealroom, in a piece dated August 12, 2026 that links to The Information and cites a person with knowledge of the fundraise, reported that the round would be at least $500 million and that Lightspeed Venture Partners was set to lead it.
Dealroom said the $15.5 billion valuation marked a 40% premium to Harvey's last mark five months earlier. It also reported that Harvey was generating more than $350 million in annualised revenue, up more than 80% from $190 million in January, although its headline described revenue as nearing $350 million. Dealroom said Harvey sells AI subscriptions to law firms and corporate legal departments. These were reported talks, not an announced round. The sources give no closing date, no price per share and no list of other investors, and neither includes a statement from Harvey on the terms.
Key points
- The Information reported talks to raise funding at a $15.5B valuation.12
- Dealroom reported a round of at least $500M, with Lightspeed Venture Partners set to lead.2
- Dealroom said the valuation marked a 40% premium to Harvey's last mark five months earlier.2
- Dealroom reported annualised revenue of more than $350M, up more than 80% from $190M in January.2
Why it matters
A reported 40% premium to the previous mark shows where the talks were priced relative to Harvey's last valuation. No round had been announced in the sources read.
Dealroom named Lightspeed Venture Partners as the investor set to lead, which identifies who was reported to be setting terms in the talks.
Dealroom's reported annualised revenue of more than $350 million is the operating figure the $15.5 billion talks were reported alongside. It rests on an unnamed person with knowledge of the fundraise.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Series A | Apr 26, 2023 | $150M | $21M | Sequoia Capital |
| Series B | Dec 19, 2023 | $715M | $80M | Elad Gil and Kleiner Perkins |
| Series C | Jul 23, 2024 | $1.5B | $100M | GV (Google Ventures) |
| Series D | Feb 12, 2025 | $3.0B | $300M | Sequoia |
| Series E | Jun 23, 2025 | $5.0B | $300M | Coatue and Kleiner Perkins |
| Funding round | Dec 4, 2025 | $8.0B | $160M | Andreessen Horowitz |
| Funding round | Mar 25, 2026 | $11B | $200M | GIC and Sequoia Capital |
| Funding round | Sep 9, 2026 | $16B | $550M | Diffusion and Lightspeed Venture Partners |
Updated
Fact-check
- Harvey was in talks to raise funding at a $15.5 billion valuation.Confirmed by [1] The Information, whose headline states Harvey is in talks to raise funding at a $15.5 billion valuation (body paywalled). Confirmed by [2] Dealroom, which reports the same valuation.Verified
- The Information's report was published on August 7, 2026.No date is visible on [1]'s paywalled page and [2] Dealroom does not date The Information's report; the date rests on our research data for the source.Partly verified
- The round would be at least $500 million, with Lightspeed Venture Partners set to lead.Confirmed by [2] Dealroom: Harvey is in talks to raise at least $500 million, and Lightspeed Venture Partners is set to lead the round, citing a person with knowledge of the fundraise.Verified
- The $15.5 billion valuation marked a 40% premium to Harvey's last mark five months earlier.Confirmed by [2] Dealroom: the valuation marks a 40% premium to Harvey's last mark five months ago.Verified
- Harvey was generating more than $350 million in annualised revenue, up more than 80% from $190 million in January.Confirmed by [2] Dealroom's body text; its headline says revenue nears $350 million, and the summary notes the difference.Verified
- Dealroom's article was dated August 12, 2026.Confirmed by [2] Dealroom, which shows an August 12, 2026 date.Verified
Sources
- [1]The Information (opens in a new tab)Harvey in Talks to Raise Funding at $15.5 Billion Valuation
- [2]Dealroom (opens in a new tab)Harvey targets $15.5B valuation in $500M raise as revenue nears $350MThe valuation marks a 40% premium to Harvey's last mark five months ago.
