Legal startup, Harvey, announced a $550M funding round at a $15.5B valuation, co-led by Diffusion and Lightspeed Venture Partners. The raise follows the introduction of Harvey's first post-trained open-weight model and the launch of Harvey LAB, the Legal Agent Benchmark. It will accelerate Harvey's efforts to help law firms, in-house legal teams, and professional services firms build and own their intelligence at scale.

Existing investors Sequoia, Kleiner Perkins, a16z, Coatue, Conviction, Elad Gil, Evantic, GIC, Goldman Sachs Alternatives, Verified Capital, and WNDR participated in the round. New investors include Diffusion, Lightspeed, Sapphire Ventures, and Whale Rock.