Harvey $15.5 billion valuation is a 38.75x multiple on $400M ARR, on par…
Harvey $15.5 billion valuation is a 38.75x multiple on $400M ARR, on par with Anthropic...what does this imply for the rest?
Anthropic IPO expects 43x return 👉🏽 https://lnkd.in/eQD3eqXG
Some estimate the legal market at ~$1 trillion 👉🏽 https://lnkd.in/p/efjXzayT
Anthropic’s market is ~$30 trillion, at least what their investors wanna see
Palantir Technologies is trading at a 143x P/E ratio today, so a 38x multiple is not completely crazy
But Palantir has zero competition
Harvey's ARR per FTE is $336K ranks second...
..behind GC AI on my latest metrics , see video below 👇🏽
My main concern: $550 million sucks the oxygen out of the legal tech market
First chart below shows decline in especially later-stage legal AI fundraising
Flip side: weaker legal AI players will be swallowed by wealthy ones
Hence the +58.7% ↑ increase in M&A (73) this year over last
Enjoy your Sunday 🏝️

