Legal AI Firm Harvey Secures €50M from EQT for Global Expansion

Harvey, a US-based legal AI startup founded in 2022, has secured a €50 million strategic investment from EQT Growth as an extension to its $300 million Series E funding round completed in June, which valued the company at $5 billion. This investment marks EQT's first significant European-led involvement in Harvey and supports the company's aggressive global expansion efforts, particularly in Europe amid competition from Swedish rival Legora. Harvey's AI platform is widely adopted, used by 45 of the top 100 US law firms and major enterprises globally, boasting firmwide usage rates exceeding 90% and robust retention metrics. EQT Growth highlighted Harvey's leading position in the AI professional services market, citing its product quality, team, client adoption, and market impact as standout factors. Harvey's technology streamlines legal workflows including contract analysis, due diligence, compliance, and litigation, and the company has established partnerships with LexisNexis and Wolters Kluwer. The collaboration with EQT is expected to accelerate Harvey's expansion beyond the US, leveraging EQT's strong presence across Europe and Asia.