News Summary

Legal tech startup Harvey is reportedly in discussions to raise over $250 million in a new funding round that would value the company at $5 billion. This round is expected to be led by Kleiner Perkins and Coatue, with participation from Sequoia Capital, which previously led Harvey’s $300 million Series D. The company has experienced rapid growth, with an annualized run-rate revenue of $75 million reported in April. Harvey is leveraging generative AI technologies to aid legal professionals worldwide, incorporating AI models from Anthropic and Google, in addition to those from OpenAI.