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AI Startup Harvey Seeks $600M at $2B+ Valuation to Acquire Legal Research Firm vLex

Jun 7, 2024, 11:05 PM

AI startup Harvey is in discussions to raise $600 million as it considers acquiring PE-backed legal research provider vLex. The potential acquisition aims to leverage vLex's legal data to enhance Harvey's large language models (LLMs) and better compete with rivals that already have access to similar data. The funding round values Harvey at over $2 billion. Harvey specializes in generative AI tools for law firms, which are designed to improve productivity by functioning as junior employees or enhancing the capabilities of junior staff.