Teachers' Venture Growth invests US$50M, extending Harvey's round to US$600M
- Raised
- $50M
- Place in VP50
- #18
- Sources
- 2
- Claims verified
- 7 of 7
What happened
Harvey, the legal AI company, announced on September 24, 2026 that Teachers' Venture Growth, the late-stage investment platform of Ontario Teachers' Pension Plan, completed a US$50 million investment. The investment extends a recent round co-led by Diffusion and Lightspeed Venture Partners and brings the total raised in that round to US$600 million, according to Harvey's announcement. BNN Bloomberg, carrying a Canadian Press report, gave the same figures. Neither source states a valuation for this investment.
A banner on Harvey's page links to a separate announcement of a US$550 million raise at a US$15.5 billion valuation. Harvey said the investment deepens its commitment to Canada: it works with more than 100 Canadian law firms and legal teams, opened a Toronto office in 2025 and has more than 30 employees in Canada. BNN Bloomberg reported that Harvey has more than 3,000 customers worldwide. Rick Prostko, senior managing director at Teachers' Venture Growth, said Harvey has already built a strong position with Canadian customers. Harvey CEO Winston Weinberg said the partnership will expand its efforts to serve all Canadian legal teams.
Key points
- Teachers' Venture Growth, Ontario Teachers' late-stage platform, completed a US$50 million investment in Harvey.12
- The investment extends a round co-led by Diffusion and Lightspeed, bringing it to US$600 million.12
- No valuation is stated for the investment.12
- Harvey works with more than 100 Canadian law firms and legal teams and has more than 30 employees in Canada.2
- BNN Bloomberg reported Harvey has more than 3,000 customers worldwide.1
Why it matters
A pension plan investor joins Harvey's backers through an extension of an existing round. No valuation is stated for the US$50 million investment, so it does not set a new mark on its own.
Harvey said the extension brings the round's total to US$600 million. A banner on Harvey's page links to a separate announcement of a US$550 million raise at a US$15.5 billion valuation, the most recent valuation in the sources.
Harvey said it works with more than 100 Canadian law firms and legal teams and opened a Toronto office in 2025. The new investor is a Canadian pension plan, and its senior managing director pointed to Harvey's strong position with Canadian customers.
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
- Teachers' Venture Growth completed a US$50 million investment in Harvey, announced September 24, 2026.Confirmed by [2] Harvey's announcement and [1] BNN Bloomberg (Canadian Press), both dated September 24, 2026.Verified
- The investment extends a round co-led by Diffusion and Lightspeed Venture Partners, bringing it to US$600 million.Confirmed by [2] Harvey, which says the extension brings the total to US$600 million. [1] BNN Bloomberg says the investment was part of a US$600 million round co-led by Diffusion and Lightspeed.Verified
- No valuation is stated for the US$50 million investment.Neither [1] BNN Bloomberg nor [2] Harvey states a valuation for it; Harvey's page links to a separate announcement of a US$550 million raise at US$15.5 billion.Verified
- Harvey's page links to a separate announcement of a US$550 million raise at a US$15.5 billion valuation.Confirmed by [2] Harvey: the page banner reads 'We Raised $550M at a $15.5B Valuation to Help Legal Teams Own Their Intelligence'.Verified
- Harvey works with more than 100 Canadian law firms and legal teams, opened a Toronto office in 2025 and has more than 30 employees in Canada.Confirmed by [2] Harvey's announcement.Verified
- Harvey has more than 3,000 customers worldwide.Confirmed by [1] BNN Bloomberg (Canadian Press).Verified
- Rick Prostko, senior managing director at Teachers' Venture Growth, said Harvey has built a strong position with Canadian customers; Winston Weinberg said the partnership will expand efforts to serve all Canadian legal teams.Confirmed by [2] Harvey, which quotes both.Verified
Sources
- [1]BNN Bloomberg (The Canadian Press) (opens in a new tab)Ontario Teachers' Pension Plan invests US$50 million in AI firm Harveymore than 3,000 customers around the world
- [2]Harvey (opens in a new tab)Harvey Announces Investment from Ontario Teachers' Pension Plan and Deepens its Commitment to CanadaThis partnership will expand our efforts to serve all Canadian legal teams
