Legal AI startup Harvey is in talks to raise at least $500 million at a $15.5 billion valuation including the investment, a 40% premium to its last valuation five months ago. The fundraising follows a revenue surge at the legal AI startup, according to a person with knowledge of the fundraise. Four-year-old Harvey is currently generating more than $350 million in annualized revenue, up more than 80% from the $190 million in annualized revenue it was generating in January, according to the person. Lightspeed Venture Partners has been interested in leading the round, the person said.
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