San Francisco-based generative AI scaleup Harvey is launching a new hub in Toronto this October to bolster its Canadian growth and broader product development plans.
“There are several strong players in the legaltech space in Canada, and I think that’s a reflection of the tremendous opportunity here.”
—Siva Gurumurthy, Harvey
The legal software provider, valued at $5 billion USD, aims to fill over 20 engineering, sales, and customer success positions in Toronto by early next year to extend its AI technology to more Canadian law firms. The company chose Toronto for its abundant engineering talent, academic institutions, and AI community as part of its “long-term investment in the Canadian market.”
“Canada is not just a market for Harvey, it’s a place we’re thrilled to be building in,” said co-founder and CEO Winston Weinberg.
Founded in 2022 by former litigator Weinberg and ex-Google DeepMind researcher Gabriel Pereya (Harvey’s president), Harvey develops domain-specific AI tools for law firms and professional service providers. The company’s name is inspired by Harvey Specter from Suits, which was predominantly filmed in Toronto.
Harvey’s solutions automate complex, repetitive legal tasks using advanced large-language models, aiming to enhance contract analysis, due diligence, compliance, and litigation. Its technology facilitates secure collaboration and insights from legal sources.
While primarily focused on legal fields, Harvey is branching into professional services adjacent to law, having co-developed a mergers and acquisitions platform with PwC. The Toronto hub is intended to enhance collaboration with Canadian clients and serve as “a core development engine,” said CTO Siva Gurumurthy.
Canada hosts 35,000 law firms, including existing Harvey clients, and boasts “a robust list of exceptional companies who could benefit from using Harvey in-house,” according to Gurumurthy. Toronto is pivotal to Harvey’s global expansion strategy, marking its first office outside the U.S. to hire engineering talent. Gary Lam has been appointed as the site leader in Canada.
Harvey’s Canadian expansion positions it against AI-centric Canadian legal software companies like Clio, Blue J, and Spellbook, and established firms such as Thomson Reuters and Dye & Durham.
“There are several strong players in the legaltech space in Canada, and I think that’s a reflection of the tremendous opportunity here,” Gurumurthy added.
The CTO highlighted Harvey’s emphasis on security, customization, rapid product development, partnerships with top model providers, and AI quality honed by legal experts as distinct features in the Canadian market.
Legaltech is witnessing a surge, with investments in AI-fueled firms nearing 2021 levels. Though some warn of potential bubbles, many law firms are evaluating various products before determining their long-term solutions.
Harvey’s expansion into Canada swiftly follows its $300-million USD Series E at a $5-billion valuation, supporting its global scale and technical team growth, after a $300-million Series D that valued the company at $3 billion.
To date, Harvey has garnered $800 million USD from backers like Kleiner Perkins, Coatue, Sequoia, and others. The company, which has 350 employees, serves over 500 clients in 54 countries, and recently surpassed $100 million USD in annual recurring revenue.
Following an office opening in London, UK, last fall, Harvey plans to establish hubs in Sydney, Australia, Bengaluru, India, and Germany this year.