agentic legal unicorns - august 2025

point-in-time summary of harvey and legora as of august 2025. compiled from primary and secondary sources by google gemini and claude. many other relevant links available in bookmarks.

comparison

metricharveylegora
founded20222023
total funding$806m$116m
valuation$5b (jun 2025)$675m (may 2025)
arr at last val$75m$5-10m
arr multiple at last val50-67x68-135x
clients337250+
current revenue~$100mrumored ~$40-$50m
revenue per client$223-297k$20-40k
employees¹642130
revenue per employee$117-156k$50-350k
linkedin followers¹62,00026,000
job openings¹7237
currently hiring in ¹nyc, sf, syd, lonsthlm, nyc, syd, den

¹ linkedin data retrieved august 6, 2025. employees = “associated linkedin members”

key metrics

valuation multiples: both companies at 50-135x arr vs. typical saas at 5-10x, anthropic ~20x, openai ~30x

revenue per client:

  • harvey: $223k average (apr 2025: $75m arr / 337 clients), $120k minimum reported
  • legora: $20-40k range (may 2025: $5-10m arr / 250+ clients)

growth: harvey raised $600m in 4 months (feb-jun 2025). legora went from yc to $675m in 1 year.

harvey

founded 2022 in san francisco by winston weinberg (ex-o’melveny & myers) and gabriel pereyra (ex-deepmind, google brain, meta). they were roommates when pereyra showed weinberg gpt-3.

funding history

dateroundamountvaluationlead investorssource
nov 2022seed$5m-openai startup fundbusinesswire
apr 2023series a$21m$150msequoiabusinesswire
dec 2023series b$80m$715mkleiner perkins, elad gilharvey
jul 2024series c$100m$1.5bgoogle venturesbusinesswire
feb 2025series d$300m$3bsequoiabloomberg
jun 2025series e$300m$5bkleiner perkins, coatueharvey

revenue milestones

datemetricvaluesource
dec 2023revenue growth10x in 2023harvey
end 2024arr growth4x in 2024harvey year in review
end 2024clients235 in 42 countriesharvey year in review
end 2024am law 100 penetration28%harvey year in review
feb 2025arr>$50mbusinesswire
apr 2025arr$75mtechcrunch
apr 2025clients337techcrunch
aug 2025arr$100mcnbc
mid 2025am law 100 penetration42%pitchbook analysis

valuation-to-arr multiple at last raise: 67x ($5b / $75m).

products

  • assistant: conversational ai for document analysis and drafting (harvey)
  • vault: bulk document storage and analysis (harvey)
  • knowledge: legal research tool (harvey)
  • workflows: agentic task orchestration launched june 2025 (harvey)

initially built on openai models. now uses multiple models from openai, anthropic, and google (harvey blog).

partnerships

microsoft (dec 2024): integration with sharepoint, onedrive, microsoft 365 copilot, teams, word. runs on azure. (harvey blog)

lexisnexis (jun 2025): integrating lexisnexis protégé service and shepard’s citations. co-developing motion workflows. (harvey blog)

pwc (sep 2024): custom tax ai model. 91% preference rate among tax experts. covers 10+ jurisdictions. (harvey blog)

pricing

per mlq.ai: starts at $1,200 per seat annually with 100-seat minimum ($120k base). custom models can exceed $5 million. median seat count doubles within 12 months.

clients

early adopter: allen & overy (now a&o shearman) (harvey newsroom)

current clients include: pwc, kkr, orrick, lowenstein sandler, macfarlanes, charles russell speechlys, comcast, verizon (harvey newsroom)

legora

founded 2023 in stockholm as “leya”. rebranded to legora february 2025. ceo max junestrand. developed inside mannheimer swartling for 9 months before commercial launch. (business wire)

funding history

dateroundamountvaluationlead investorssource
apr 2024pre-seed$0.5m-y combinatoryc profile
may 2024seed$10.5m-benchmarklegora blog
jul 2024series a$25m-redpoint venturesbloomberg law
may 2025series b$80m$675miconiq, general catalysttech.eu

growth timeline

dateeventdetailssource
may 2023foundingbuilt with mannheimer swartlingbusiness wire
jan 2024ycwinter 2024 batchyc profile
feb 2025rebrandleya → legora, 200+ firmsbusiness wire
mar 2025us launchnyc office, goodwin partnershiplegora blog
may 2025series b$80m at $675m valuationtech.eu
jun 2025workflowslaunched agentic workflowslegora blog

arr estimated at $5-10m as of may 2025 based on client count and typical contract values.

products

  • tabular review: spreadsheet-like document analysis (legora)
  • assistant: conversational document q&a (legora)
  • word add-in: microsoft word integration (legora)
  • research: searches imanage, sharepoint, external databases (legora)
  • workflows: agentic task automation launched june 2025 (legora)

built on microsoft azure. uses azure openai (gpt-4o) and anthropic claude. claude scored 18% better on their legal benchmarks.

partnerships

  • cleary gottlieb (may 2025): firm-wide rollout after pilot (business wire)
  • dentons (jun 2025): europe-wide deployment (dentons)
  • goodwin (mar 2025): us market entry partnership (legora blog)

other clients: bird & bird, taylor wessing, pérez-llorca, mannheimer swartling (legora blog)

market data

metricharveylegora
founded20222023
total funding$806m$116m
valuation$5b (jun 2025)$675m (may 2025)
arr$75-100m$5-10m
arr multiple50-67x68-135x
clients337250+

valuation multiples context

both companies trade at 50-135x arr. for comparison:

  • anthropic: ~20.5x
  • openai: ~30x
  • public saas companies: typically 5-10x

legal services market size: >$1 trillion globally (pitchbook)

convergence on agentic workflows

both companies launched “agentic workflows” in june 2025:

these features enable ai to plan and execute multi-step legal tasks rather than just respond to queries.

sources

on this page