Legal AI startup Harvey raised $550M co-led by Lightspeed and Diffusion at a $15.6B valuation, up from an $11B valuation when it raised $200M in March (Rebecca Torrence/Bloomberg)

Legal AI startup Harvey recently secured $550 million in a funding round co-led by Lightspeed and Diffusion, elevating its valuation to $15.6 billion. This marks a significant increase from its $11 billion valuation in March, when it raised $200 million. The new capital is intended to support the company's efforts in developing its own AI models, further solidifying its position in the legal tech sector.