Harvey has raised €50 million from Swedish investment firm EQT, marking major backing from a European investor.
The move comes as Harvey looks to accelerate international expansion amid intensifying competition from European rival Legora.
Harvey has raised €50 million from EQT as the US-based legal AI company steps up its rapid global expansion.
Sweden-headquartered EQT invested through its growth-stage tech fund and described the deal as an extension of Harvey’s Series E funding round completed in June, which raised $300 million at a $5 billion valuation. Harvey said the fresh capital will support its international growth strategy.
European backing
The round extension represents Harvey’s first significant European-led investment, signalling a push to strengthen its presence on the continent, where fast-growing Swedish rival Legora is reportedly eyeing a $100 million raise at a $1.7 billion valuation and has been on a run of high-profile law firm wins in recent months.
EQT is making the investment through EQT Growth, whose portfolio includes Vinted, UK insurtech ManyPets and Swedish music company Epidemic Sound.
Founded in 2022 by former Big Law lawyer Winston Weinberg and ex-DeepMind researcher Gabe Pereyra, Harvey’s AI-powered productivity platform is now used by a total of 45 of the top 100 US law firms, including giants such as A&O Shearman and Latham & Watkins.
What they said
Co-founder Weinberg said: "Legal teams need a fast pace on AI innovation and the highest commitment to security and privacy. Harvey's goal is to provide both.
"Our partnership with EQT, one of the world’s largest private investors and a leader in Europe and Asia, reflects our commitment to delivering for customers not just in the US but on a global scale."
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