The Legal Technology Startup Harvey is in discussions to raise more than $ 250 million in a financing round led by Kleiner Perkins and Coatue that would value it at $ 5 billion, Reuters, Reuters, Reuters, Reuters, reportedciting anonymous sources.
Capital Sequoia, which led the Series D of $ 300 million start D Only three months ago, it is also expected to invest in this new round, Reuters reported, and added that investors are attracted to the rapid traction of the startup in the market.
Harvey has enjoyed rapid growth as lawyers and legal signatures around the world find ways to use generative the AI technology to simplify research, documentation and quickly examine their data. The company registered annual execution rate income of $ 75 million in April, Reuters reported.
The news comes only a couple of days after Harvey saying He would start using AI from Anthrope and Google, which adds to the models that he uses from his sponsor, OpenAi.
The report did not mention whether Open AI Startup Fund, which supported Harvey at the beginning of his life, would also invest in this round.
Harvey, Coatue, Sequoia and Kleiner Perkins did not immediately respond to comments requests.