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Harvey AI, a startup that provides automation of legal work, has raised $ 300 million in series financing E to an evaluation of $ 5 billion, told the company to Fortune. The Tour was co-directed by Kleiner Perkins and Coatue, with the participation of existing investors, in particular the conviction, Elad Gil, the Openai and Sequoia starting fund.
Funding comes only four months after Harvey announced that Sequoia had led a Series of $ 300 million D Round an evaluation of $ 3 billion.
While many AI companies aim to maintain the low workforce, Harvey quickly widens his staff. The three -year startup already employs 340 people and plans to double this number with its new funds, Fortune reported. Some of the new employees will be hired to help Harvey build AI products for professional services beyond legality, including tax accounting. AI solutions of the company, which help lawyers examine documents and write contracts, are used by 337 legal customers.
Harvey increased to a fast clip, reaching annualized turnover of $ 75 million in April, compared to $ 50 million earlier in the year, Reuters reported last month.
Some of Harvey’s competitors include older legal startups, such as 10 -year -old Ironclad and Clio, 17, who raised a $ 300 million round an evaluation of $ 3 billion last year.
