tech
Harvey has made its third acquisition in 7 months — and it signals where it's going next
Harvey's acquisition of Benchmark, a startup for asset managers, marks its push beyond Big Law into the broader corporate market.
TL;DR
- Harvey, a legal software company, has acquired Benchmark, a four-year-old startup focused on software for asset managers.
- This acquisition is Harvey's third since January and aims to expand its footprint on Wall Street.
- Harvey's cofounder emphasized that talent acquisition is a key driver for their acquisitions.
- Benchmark's software helps asset managers search and compare past deal files with new opportunities.
- Harvey, which has a significant presence in Big Law, sees legal teams within companies as its fastest-growing segment.
- The company aims to leverage its technology beyond traditional legal departments, recognizing that many asset management activities involve legal documents.
- Harvey competes with other startups like Legora and Norm AI, as well as tech giants like OpenAI and Anthropic, in the expanding legal tech market.