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LexisNexis is teaming up with Harvey. Here's why that matters for the legal tech market.
- LexisNexis is partnering with legal startup Harvey to integrate LexisNexis data into the Harvey app, strengthening Harvey's legal software offering.
- Harvey, founded in 2022, gained popularity in the legal tech space with support from OpenAI and Sequoia, attracting large law firms like Ropes & Gray and Paul Weiss.
- The partnership allows Harvey users with LexisNexis subscriptions to access its legal content and citations within the app, filling a gap in Harvey's data offerings.
- This collaboration enhances Harvey's position in the legal tech market, where it competes with companies like Legora, Hebbia, and Eudia for market share.
- The integration of LexisNexis data into Harvey's platform provides a competitive advantage and may attract more law firms to use Harvey for legal drafting and review.
- Firms like Ropes & Gray have deployed Harvey firmwide, signaling a trend in Big Law towards embracing legal tech more extensively.
- Sean Fitzpatrick, CEO of LexisNexis North America, UK, and Ireland, mentioned that many of Harvey's large law firm clients are also LexisNexis customers, driving the partnership.
- LexisNexis invested in Harvey through its corporate venture arm, Rev Ventures, with a $300 million round, highlighting the strategic importance of the partnership.
- The move to integrate LexisNexis data into Harvey's platform aims to streamline legal workflows by providing easy access to legal research and drafting tools.
- The partnership reflects a shift in Big Law towards broader adoption of legal tech solutions, potentially intensifying competition among legal tech startups.
- While LexisNexis initially downplayed legal tech startups, the partnership with Harvey underscores the value of data-driven legal solutions and efficient workflows.
- Both companies stand to benefit from the collaboration, with Harvey expanding its data offerings and LexisNexis enhancing its presence in the legal tech market.
- The exact terms of the partnership, including data access arrangements, were not disclosed publicly.
- As the integration of LexisNexis data into the Harvey app progresses, its impact on legal workflows and user experience will be closely watched.
- For more information or tips, readers can contact the reporter via email at [email protected] or Signal at @MeliaRussell.
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