Topics
Latest
AI
Amazon
Image Credits:mathisworks / Getty Images
Apps
Biotech & Health
Climate
Image Credits:mathisworks / Getty Images
Cloud Computing
Commerce
Crypto
endeavour
EVs
Fintech
fund-raise
gismo
punt
Government & Policy
computer hardware
layoff
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
societal
Space
Startups
TikTok
transfer
speculation
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
television
Partner Content
TechCrunch Brand Studio
Crunchboard
reach Us
Harvey , a startup building what it depict as an AI - powered “ copilot ” for lawyer , has raised $ 100 million in a Series C cycle led by GV , Google ’s collective venture arm .
The tranche , which also had participation from heavily - hitting angel and VCs OpenAI , Kleiner Perkins , Sequoia Capital , Elad Gil and SV Angel , bring Harvey ’s total raise to $ 206 million and assess the house at $ 1.5 billion .
In aposton Tuesday on Harvey ’s official blog , co - father Winston Weinberg and Gabriel Pereyra pronounce that the bulk of the new capital letter will be put toward collecting and curating information to build and cultivate “ domain - specific ” AI models while grow Harvey ’s head count and expand its paid service to Modern geographics .
“ This investment will enable Harvey to stay scaling and ameliorate our AI - powered technology across business functions and geographies , ” Weinberg and Pereyra say . “ We will habituate this novel cap to invest in the technology , data and domain expertise that are fundamental to building AI - native systems that ease the most complex cognition workplace . We will also intensify our partnership with both swarm and model provider to integrate additional models into Harvey and broaden our breeding collaborations to continue better example efficacy . ”
Weinberg , a former securities and antitrust litigant at law firm O’Melveny & Myers , and Pereyra , previously a research scientist at DeepMind , Google Brain ( another of Google ’s AI group ) and Meta AI , launch San Francisco - based Harvey in 2022 . Weinberg and Pereyra are roomy ; Pereyra demonstrate Weinberg OpenAI ’s GPT-3 text - generating system and Weinberg realise that it could be used to amend legal workflow .
Harvey , power by OpenAI ’s GPT-4 good example family , can answer sound questions phrased in innate nomenclature , like “ Tell me what the differences are between an employee and independent contractile organ in the Fourth Circuit ” and “ recite me if this clause in a rental is in violation of California law , and if so , rewrite it so it is no longer in violation . ” Harvey also offers tools that can mechanically extract data from visitation copy , automatically find effectual documents that can back up lawcourt arguments and beget first drafts of filing that integrate info and citations from effectual databases .
It ’s knock-down clobber in theory . But it ’s also fraught . Given the sensitive nature of most legal dispute , some lawyers and legal philosophy firms might be reluctant to give a tool like Harvey access to any case documents . There ’s also the matter of oral communication models ’ propensity to spouttoxicityandmade - up facts , which would be especially poorly receive — if not perjurious — in a motor hotel of law .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
That ’s why Harvey has a disclaimer attached to it : The pecker is n’t meant to put up legal advice to nonlawyers and should be used under the supervision of licensed attorneys .
Harvey face some contest . Casetext expend AI , in the first place OpenAI models , to find legal cases and assist with general legal inquiry tasks and abbreviated drafting . More operative pecker likeKlarityuse AI to strip drudgery from declaration review . At one spot in sentence , startup Augrented was even explore ways to leverage OpenAI mannequin to summarise effectual observation or other sources in plain language to help oneself flat tenants represent their rights .
But Weinberg and Pereyra take that Harvey is fly high and in purpose “ day-by-day ” by ten of thousands of lawyers at natural law house and consultancies , including Allen & Overy , Macfarlanes , Ashurst , CMS , Reed Smith and PwC. Annual repeat revenue has tripled since last December , the two co - founders said in the blog post , while Harvey ’s workforce has tripled in size of it .
The Informationreportedin early June that Harvey go for to raise $ 600 million at “ at least ” a $ 2 billion valuation , in part to acquire a legal research serving called vLex to train its AI Cartesian product . Those plansfell through — hence the immensely contract Series C.
