"The most-talked-about legal drama last week wasn't on a streamer, but on Reddit. , an AI-for-law startup valued at $5 billion, found itself on defense after a purported former employee claimed in a post that lawyers weren't actually using its tools. Harvey pushed back with internal stats, as screenshots of the post jumped to LinkedIn and the debate spilled beyond the startup."
"Harvey has become the case study that others point to as "proof of market." Startups, such as Legora, Supio, and Eudia, have raised fresh rounds of funding as investors chase the next big thing in legal, having seen Harvey's momentum. Incumbents are reorganizing. In June, LexisNexis tapped Harvey to build tools on top of its primary law content and citations graph."
Harvey responded to a viral Reddit post in which a purported former employee alleged low product usage and renewals. The CEO shared internal metrics, including a 98% gross revenue retention figure, to rebut the claims. The exchange spread to LinkedIn and prompted broader debate about real-world adoption of legaltech tools. Legaltech promises contract drafting and data review, but lawyers often demand accuracy and remain cautious. Harvey targets large law firms and corporate legal teams with AI chatbots designed to avoid fabricating cases and protect client data. The company's growth underpins investment in competitors and partnerships like LexisNexis.
Read at Business Insider
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