/ Pre-IPO Risk Index / Harvey

Harvey

Legal AI · Pre-IPO · $3B (Q3 2025)
B

Good (B) — Round Z Pre-IPO Risk Grade

Harvey operates the leading enterprise legal AI platform with adoption across major U.S. and global law firms (Allen & Overy, PwC, Macfarlanes). Conservative valuation trajectory, strong customer-logo retention, and OpenAI strategic partnership produce a high-quality enterprise AI profile.

82
Composite / 100
/ Subscore Breakdown · 5 Dimensions

Where this grade comes from.

Governance Risk
B+
Valuation Methodology
B
Secondary Liquidity
C+
Financial Disclosure
B
Exit Probability
B
/ Public-Record Events

Key risk events & disclosures.

  • Major law firm customer adoption: A&O Shearman, PwC, Macfarlanes
  • OpenAI strategic partnership and joint product development
  • Conservative valuation discipline relative to category peers
  • $300M Series D Q3 2025 at $3B valuation

/ Best for

Investors seeking legal-vertical AI exposure with strongest enterprise-customer track record in category.

/ Watch out for

Thomson Reuters CoCounsel, LexisNexis AI integration, and Allen & Overy's ContractMatrix internal-build pressure intensifying.