Legal AI may not typically grab headlines, but Harvey is defying expectations in Silicon Valley, capturing significant attention and investment from leading venture capitalists. Founded by Winston Weinberg and Gabe Pereyra, the San Francisco-based startup has seen its valuation surge from $3 billion in February 2025 to $8 billion by October, reflecting the growing interest in AI technologies among investors and their increasing acceptance by law firms worldwide.
In just a few years, Harvey has onboarded 235 clients across 63 countries, including a majority of the top U.S. law firms, while also surpassing $100 million in annual recurring revenue by August. Weinberg recently shared insights about Harvey’s journey on the StrictlyVC Download podcast, highlighting the pivotal moment when a cold email to OpenAI’s Sam Altman set the company’s course for success.
Key highlights from Weinberg’s interview:
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Transformative Potential: While working at O’Melveny & Myers, Weinberg experienced firsthand how AI tools could revolutionize legal tasks. His early experiments with GPT-3 led to developments that impressed seasoned attorneys.
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Strategic Partnerships: Harvey’s success is bolstered by partnerships with major firms and platforms, including a recent alliance with LexisNexis that enhances research capabilities.
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Multiplayer Challenges: Weinberg emphasized the complexities of creating a platform that enables collaboration between law firms and clients while managing ethical boundaries and data permissions across multiple jurisdictions.
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Business Model Evolution: Currently relying on a seat-based pricing model, Harvey plans to shift towards outcome-based pricing as the technology matures, echoing the anticipated changes in legal billing practices.
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Market Expansion: The company’s revenue has diversified, with an increasing share coming from corporate clients, signaling a strategic pivot away from sole reliance on law firms.
Despite facing skepticism about its capabilities merely being a “wrapper for ChatGPT,” Weinberg views Harvey’s data collection and “multiplayer” structure as key differentiators. As AI continues to reshape the legal landscape, Harvey is positioning itself not just as a tool, but as a comprehensive platform ready to meet evolving industry demands.
Ultimately, as Weinberg notes, the legal field remains in its early stages of AI integration, indicating a significant opportunity for growth and innovation in the coming years.
