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 🏝️