Harvey Q3 Recap:
Metrics:
- Added over $100M ARR and crossed $400M ARR
- 97% GRR
- 20% of the Fortune 500 and 40% of the Fortune 50 use Harvey
- 80% of the Am Law 100 use Harvey
Key hires:
- @asadovsky, Chief Research Officer (former CVP AI, Microsoft AI & Distinguished Engineer, Google DeepMind)
- @stevezad, Chief Revenue Officer (former GVP Rubrik)
Product:
- Harvey II
- Horizon Scanning
- Command Center GA
Engineering:
- Agent harness end-to-end redesign
- Brought agents to Word, Outlook, Vault, and Review Tables
- Vault files 2x+ in Q3, token throughput 20x+ since January, vector DB migration, major cost & efficiency gains
AI:
- Harvey Tenet, our first model post-trained for legal
- Legal Agent Bench extensions for M&A Diligence and Firm Knowledge
- Research collaborations with @FireworksAI_HQ, @appliedcompute, @baseten, @EngramLab, and @trajectorylabs
We’re opening a Boston office this fall.
The office will bring us closer to the law firms and in-house legal teams we work with across New England and help us grow the team serving them.
We’re hiring in Boston across sales, recruiting, legal engineering, and customer success.
Steve Zad retweeted
The hardest thing about building @harvey is doing what’s best for our customers despite immense pressure to do what’s easy.
The easy thing would have been to force our customers onto consumption pricing before they were ready and serve them worse models to protect our margins.
We chose to help our customers transition on a timeline that works for them and give them the best models in the meantime, even though it hurt our margins.
This meant optimizing our product through routing, harness improvements, and post-training so we could serve frontier intelligence at an affordable price.
It also meant building the infrastructure for customers to monitor and manage spend: usage dashboards, per-matter cost attribution, spend caps, and ROI reporting.
As a result, we improved our gross margins from -50% to positive in a single quarter despite usage doubling month over month and continuing to serve the best models.
Our philosophy is simple: do what’s best for our customers, even when it’s painful, hurts our margins, or draws criticism from competitors, X, and the press.
We believe the most important part of building a company is earning and keeping your customers’ trust. You do that by doing the hard thing for them, even when it costs you.
We're excited to welcome @asadovsky as our Chief Research Officer.
Prior to Harvey, Adam co-led post-training at Microsoft AI and Google DeepMind.
As CVP at Microsoft AI, he led post-training of MAI-Thinking-1.
As a Distinguished Engineer at Google DeepMind, he led teams working on Gemini 1.0 through Gemini 2.5.
Earlier at Google, he led teams working on Assistant, Search Quality, and Search Infrastructure.
We’ve raised $550M at a $15.5B valuation co-led by @lightspeedvp and @DiffusionVC.
We're using this funding to help law firms, in-house legal teams, and professional services build and own their intelligence.
.@GabrielMacht sat down with law students, lawyers, and leaders at law firms and in-house teams to talk about how they use Harvey.
Here’s what they had to say.
Introducing Harvey II: smarter agents from the start.
- Featuring Harvey Tenet, our first model trained for legal work
- Built around matters and projects
- Agents start with the files, context, permissions, and history they need
- Assign tasks to lawyers or agents, then track and review the work
- Harvey remembers how you work and writes like you
Steve Zad retweeted
In July, 20% of our inference spend was review tables. The most expensive review table queries cost $20k.
Today we’re excited to share work we did with @appliedcompute that will reduce this cost by 50% by post training a review table model.
Our review table product allows layers to upload thousands of contacts or emails and extract or analyze flexible fields.
Historically we optimized this system via prompt caching, packing (multiple fields per model call), routing, batching, etc.
Once we hit the limits of gradient free approaches we wanted to see if post training could improve on an already strong baseline.
Review tables turned out to be a perfect candidate for post training because verification is easy and we’ve built large datasets to do so.
Awesome work by @vtrengarajan, our vault and labs team as well as applied compute. Detailed write up below.
Steve Zad retweeted
The most important skill in Investing is Valuing Companies!
Here's an extensive Introduction to Valuation and Intrinsic Value:
.@RubrikInc Co-Founder and CEO @BipulSinha joined Bloomberg @Technology today to discuss findings from the latest #RubrikZeroLabs report and break down the current state of #DataSecurity. Watch Bipul's segment here 👉 rbrk.co/3UJLihD
Steve Zad retweeted
The central time zone is a huge productivity hack.
You can be done at the gym and can get a couple hours of work in before the west coast folks come online but you're not too far ahead where you're stuck on calls late at night.
Rest easy my friend. Memorial for David Colson gofund.me/e8b0dad8.
Steve Zad retweeted
LEGENDS OF LEVERAGE
Archegos Capital: 10:1
Lehman Brothers: 44:1
The Federal Reserve: 197:1
Steve Zad retweeted
The point at work isn’t doing every task at 80% but understanding which tasks can be done at 50% and which need to be done at 100%.
Performance isn’t doing everything equally well. Performance is going all in on the things that make a difference.
Steve Zad retweeted
I've never seen an investor lay out such an articulate investment thesis in under 4 mins. @chamath continues his plan of world domination!














