Four months after a $3B valuation, Harvey AI grows to $5B

Harvey, a startup Harvey that provides automation for legal work, has collected $ 5 billion in Series E Fund $ 500 million, the company says FortuneThe The round was co-operative of Clainer Parkins and Kotu, guilty, with the participation of existing investors, including Elad Gill, OpenAI Startup Fund and Sikoia.

This financing comes just four months after the announcement of Harvey Sikoiya leadership $ 300 million series d Round at assessment of a 3 billion dollars.

Although many AI companies have aims to keep the headcount low, Harvey is rapidly expanding its staff. The three -year -old startup has already appointed 340 people and plans to double the number with its new fund, Fortune said. Some new staff will be appointed to help produce AI products for professional services, with a tax accounting, with a tax accounting. The company’s AI solutions, which help the lawyers review and draft the draft agreement, are used by 337 legal clients.

Harvey is growing rapid clips, reached the annual run-rate of $ 75 million in April, the beginning of the year was more than $ 50 million, Reported Reuters Last month.

Some of Harvey’s competitors include old legal startups like 10 -year -old Ironclad and 17 -year -old Cleo that has raised a Round of $ 300 million Evaluation of a 3 billion dollars last year.