<ul data-eligibleForWebStory="true"><li>Harvey AI, a legal automation startup, raised $300 million in Series E funding, valuing the company at $5 billion.</li><li>The funding round was led by Kleiner Perkins and Coatue, with participation from existing investors like Conviction, Elad Gil, and Sequoia.</li><li>This funding round comes shortly after Harvey raised $300 million in Series D funding at a $3 billion valuation.</li><li>Harvey AI plans to double its staff from 340 employees with the new funds, focusing on expanding AI products for services beyond the legal sector, including tax accounting.</li><li>The company's AI solutions aid lawyers in document review and contract drafting, serving 337 legal clients.</li><li>In April, Harvey reached an annualized run-rate revenue of $75 million, up from $50 million earlier this year.</li><li>Competitors of Harvey AI include older legal startups like Ironclad and Clio, which raised a $300 million round at a $3 billion valuation last year.</li></ul>

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

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