Harvey
Harvey is a generative AI platform for legal professionals, streamlining tasks like research and contract analysis for major law firms.
Secondary Market Price
Secondary Market Price
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Company Description
Harvey is a generative AI company building a platform for professional services, with a specific focus on the legal market. Its tools are designed to integrate directly into legal workflows, assisting with tasks like contract analysis, due diligence, litigation, and research. The platform is used by more than 15,000 legal professionals at major law firms like Allen & Overy and accounting firms such as PwC. Founded in 2022 by AI researcher Gabe Pereyra and former litigator Winston Weinberg, the San Francisco-based company has grown to over 340 employees. Harvey has rapidly expanded its global reach, establishing partnerships with firms in Australia, India, and Israel, and it acquired the multimedia software company Mirage in April 2024.
The company is scaling its operations and product development, with aggressive hiring in engineering, sales, and other key departments. Recent progress has generated significant momentum, supported by substantial funding and tangible client results. Harvey recently secured a $300 million Series E funding round, bringing its valuation to $5 billion. This follows key milestones, such as surpassing $10 million in annual recurring revenue and expanding its platform to include over 100 national legal and regulatory sources. Client impact is notable; the law firm Reed Smith has over 800 monthly active users, and another firm, FISCHER (FBC & Co.), reported completing M&A due diligence 80% faster with Harvey. The company is also rolling out new mobile apps and enhancing its Microsoft Word Add-In, which allows users to edit documents using natural language.
- Sequoia Capital
- GV
- Coatue
- Kleiner Perkins
- SV Angel
- Elad Gil
- Co-Founder, CEO Gabriel Pereyra
- Co-Founder, Winston Weinberg
Peer Group Comparison
Vs Peer Group of >$4B Startups
How Harvey measures Up
To help you manage your Harvey equity, Prospect has run the company through our machine learning model.
Prospect Rating
2x
Our rating for Harvey is 2x, which means we project the company will be worth at least double its current value in four years. For an employee with stock, this suggests the value of your equity could potentially double if the company achieves this growth.
Exit Risk
Very Low Risk
We rate Harvey's 'Very Low' risk because factors like its backing from top investors, recent fundraising during a market downturn, and strong early revenue in a large, emerging market indicate a lower likelihood that it will fail to reach a liquidity event for employees compared to other startups.
Funding Stage
Series E
Since Harvey is at a Series E funding stage, it's considered a mature and well-established company. For a potential employee, this generally points to more stability and structure than you would find at an earlier-stage startup.
Frequently Asked Questions
Joining Anduril as an employee is another way to acquire equity, typically through stock options included in compensation packages.
Is Harvey worth joining?
Harvey shows strong growth prospects, with a recent $5B valuation, backing from top investors like Sequoia Capital, and a 'Very Low Risk' rating. To determine if it's the right fit for you, you can use platforms like Prospect to analyze the potential value of your equity offer using VC-grade data.
What should I do with my Harvey stock?
Managing pre-IPO stock involves complex decisions around exercising options and minimizing taxes to maximize your take-home value. Platforms like Prospect offer tools for tax optimization, scenario modeling, and personalized strategies to help you make informed decisions about your equity.
Can you sell Harvey stock?
As Harvey is a private company, its stock does not trade on public exchanges, but employees may be able to sell shares through secondary markets. Resources like Prospect can provide data on secondary market pricing and activity to help you understand potential liquidity options.
How can I find the value of my Harvey stock?
You can estimate your stock's value based on Harvey's most recent $5B valuation and the company's 409A valuation, which determines the strike price for options. For a more detailed analysis, Prospect provides tools and independent projections to help you understand what your specific equity grant is likely to be worth.
What is Harvey's equity worth?
The company as a whole was recently valued at $5 billion, a key indicator of its overall equity value. The worth of an individual's equity grant depends on factors like the number of shares and vesting schedule, which can be modeled using tools on platforms like Prospect.
What is Harvey's stock ticker symbol?
Harvey is a private company and does not have a stock ticker symbol. Ticker symbols are only assigned to companies whose shares are listed and traded on a public stock exchange.
Can I buy or sell Harvey stock?
Since Harvey is a private company, its stock is not available for the general public to buy on open markets. However, existing stockholders such as employees may be able to sell their vested shares on secondary markets, a process that can be informed by data from platforms like Prospect.
What is the criteria to buy or invest in Harvey stock?
Investment in private companies like Harvey is typically limited to accredited investors who participate in organized funding rounds, or to employees who receive equity as part of their compensation. The general public cannot purchase shares, and the specific criteria for investors are not publicly disclosed.
