Harvey at $75M ARR

TL;DR: Harvey has scrapped its fine-tuned legal model and gone multi-model as it shifts towards agentic workflows. Sacra estimates that Harvey reached $75M in ARR in April 2025, up from $50M at the end of 2024. For more, check out our updated Harvey report and dataset.

We first covered Harvey in January 2025 at $50M ARR as it was using LLMs to take on Westlaw and LexisNexis’s $5B/year legal tech duopoly.

Key points from our mid-2025 Harvey update via Sacra AI:

Sacra estimates that Harvey reached $75M in annual recurring revenue (ARR) in April 2025, up 50% this year from $50M in December 2024, valued at $5B as of their $300M June Series E (Kleiner Perkins & Coatue) for a revenue multiple of roughly 67x, up from 60x at the end of 2024 and higher than Hebbia at $13M ARR in June 2024 ($700M valuation).
Frontier reasoning models have commodified legal reasoning as a differentiator, with every major LLM company—Google Gemini 2.5 Pro, xAI Grok 3, OpenAI o3, and Anthropic Sonnet 3.7—now beating Harvey’s proprietary, fine-tuned legal model on its own BigLaw Bench, pushing Harvey to scrap its vertical model positioning and reposition around pre-configured agentic workflows that chain multiple models and tools together to complete specific legal tasks.
Like vertical enterprise AI for finance Hebbia, Harvey’s high-cost software (~$1.2K/lawyer/month, 12-month, ~20-seat-minimum contracts) represents a bundle of software and high-touch “forward-deployed” services to drive change management, implementation, and adoption within the company—which in Harvey’s case means that it has dedicated ~10% of the team to ex-lawyers in customer success roles to get firms over the utilization threshold for renewal.

For more, check out this other research from our platform:

Harvey at $50M ARR