Harvey AI Company

A Harvey AI Company is a legal tech company.

• Context:
  • It can (typically) produce Harvey AI Products, such as Harvey for Contracts Platform and the Harvey Legal Workflow Suite.
  • It can (typically) partner with Large Law Firms and Professional Service Providers to offer customized AI solutions to streamline legal workflows.
  • It can train LLM models to handle complex legal tasks such as due diligence and case law summarization
  • It can (often) focus on improving AI software performance in legal tasks, including reasoning, citation extraction, and document review.
  • …
• Example(s):
  • Harvey AI, 2024 integrates o1 model into its products, enhancing capabilities in reasoning, planning, and collaboration for legal workflows.
  • Sept 2024 269 associated members
  • Harvey AI, 2024 increased performance in legal benchmarks like BigLaw Bench through the use of customized AI models for contract analysis and citation tasks.
  • Harvey AI, 2024, ...; ~160 employees in 2022-05; partnership with Mistral.
  • Harvey AI, 2023, $80 million Series B funding; ~50 employees in 2022-05. ~87 employees in 2023-09,
  • Harvey AI, 2022, $5 million in funding; ~30 employees in 2022-05.
  • …
• Counter-Example(s):
  • LegalOn Tech.
  • Evisort.
  • LawGeex.
  • Spellbook.
  • Robin AI.
• See: AI Software, Contract Analysis, Collaborative Legal Agent.

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References

2024

• https://www.harvey.ai/blog/harvey-building-legal-agents-and-workflows-with-openai-s-o1
  • NOTES:
    • Advances in Agentic Models: The introduction of OpenAI o1 marks a shift toward AI models that can collaborate with human users on complex, multi-step tasks. This transition from "copilots" (assistants) to "coworkers" (partners) represents a significant evolution in professional service applications, particularly in the legal field.
    • Domain Specialization: While OpenAI o1 excels in planning and reasoning, Harvey emphasizes the importance of domain specialization. Legal work requires subjective judgment, multi-faceted reasoning, and contextual understanding, which general models like OpenAI o1 need further refinement to achieve.
    • Long-Term Vision: Harvey’s strategy of blending AI capabilities with specialized legal data and workflows is aimed at creating highly effective, collaborative agents that work seamlessly with human experts. This aligns with the growing trend of using AI to not only augment but also collaborate with professionals in complex fields.

2024

• https://www.linkedin.com/jobs/view/software-engineer-infrastructure-at-harvey-3860723527/
  • QUOTE: Harvey is a secure AI platform for professionals in law, tax, and finance that augments productivity and automates complex workflows. Harvey uses algorithms with reasoning-adept LLMs that have been customized by our expert team of lawyers, engineers and research scientists. We’ve found product market fit and are scaling our team very quickly. Some reasons to join Harvey are:
    • Exceptional product market fit: We have partnered with the largest law firms and professional service providers in the world like A&O, PwC, and many others.
    • Strategic investors: Raised over $100 million from strategic investors including Sequoia, Kleiner Perkins, and the OpenAI Startup Fund.
    • World-class team: Harvey is hiring the best technical and non-technical talent from places like DeepMind, Google Brain, Stripe, FAIR, Tesla Autopilot, Superhuman, and Glean.
    • Partnerships: Our engineers and researchers work directly with OpenAI to build the future of generative AI and redefine professional services.
    • Performance: $0-20M ARR in the last 12 months.
    • Value: Top of market cash and equity compensation.

2023

• https://www.harvey.ai/blog/series-b 2023-12-19
  • Harvey raises $80M Series B from Elad Gil, Kleiner Perkins, OpenAI and Sequoia (Announced on Dec.19)
    • Series B is co-led by Elad Gil and Kleiner Perkins with participation from OpenAI Startup Fund and Sequoia.
    • The $80 million investment brings Harvey’s total funding to over $100 million and values Harvey at $715 million.

2023

• https://linkedin.com/company/harvey-ai/about/
  • QUOTE: Harvey is a generative AI company backed by Sequoia and OpenAI's startup fund building the future of professional services.

Website
   http://harvey.ai 
Industry
   Software Development 
Company size
   Sept 2023  87 assoc. members
Headquarters
   San Francisco, California 
Founded
   2022 

2023

• https://www.harvey.ai/careers/senior-research-engineer
  • QUOTE:
  • Harvey will be a category-defining company for the application layer built on top of foundation models like GPT-4.
    • Exceptional product market fit: multiple multi-million dollar deals with the largest professional service providers (e.g. PwC) and the largest law firms on Earth (e.g. Allen & Overy).
    • …

2023

• https://www.clio.com/blog/harvey-ai-legal/
  • SUMMARY
    • Harvey AI is a legal tech startup founded in 2018 that develops AI software to assist lawyers with contract review and contract analysis.
    • Their main product Harvey for Contracts uses natural language processing and machine learning to extract key contract data points and contract clauses from contracts to speed up manual review.
    • They target corporate legal departments and law firms as customers, promoting efficiency gains, time/cost savings, and reducing human error.
    • Harvey AI raised $20 million in funding and partners like Lightspeed Venture Partners, leaning into machine learning and NLP.
    • Competitors include LawGeex, Kira Systems, and Evisort.
    • In late 2022, Harvey AI received a $5 million investment from the OpenAI Startup Fund to assist lawyers through generative AI.
    • In 2023, Allen & Overy announced a partnership with Harvey AI after extensive product testing. PwC also announced a deal.
    • While AI tools like Harvey AI can provide benefits, risks around incorrect data, ethics, security, and regulation remain.

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