Lexis On REV’s New Harvey Funding, + Workflow Builder – Artificial Lawyer

LexisNexis has commented to Artificial Lawyer about its allied venture arm’s fresh investment into Harvey (see below). Meanwhile, the highly-funded genAI startup has launched a new feature: Workflow Builder, which has agentic capabilities.

First the new feature. Workflow Builder lets you turn your proprietary knowledge into ‘structured, reusable systems’.

Harvey, which yesterday confirmed to AL that it had raised $300m in a new series E round that valued the company at $5bn – see article, explained that Workflow Builder ‘is a self-serve tool that empowers innovation teams to build these [workflows] from scratch. With it, Innovation and Knowledge leaders can design and deploy custom agents that reflect their firm’s expertise, tone, and processes’.

This works in the following way:

‘Describe or design your workflow

Start by telling Harvey what you want to build in plain language, or use the no-code interface to lay out steps manually by connecting different blocks.

Customize with your firm’s know-how

Add the inputs, precedent examples, and branching logic that reflect how your firm works. Choose the best model for each step, or let Harvey optimize automatically.

Deploy, share, and refine

Test the workflow, set permissions, and share it across your team. You can iterate, version, and adapt workflows as your needs evolve.’

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Now the LexisNexis funding news. As noted above, there has been a new round of investment into Harvey and this time the round was co-led by Kleiner Perkins and Coatue, and includes Sequoia, GV, DST Global, Conviction, Elad Gil, Open AI Startup Fund, Elemental, SV Angel, Kris Fredrickson, and REV.

REV is the investment arm of LexisNexis’ publicly listed parent, RELX. It had already joined the previous $300m round in February when the valuation was $3bn. Meanwhile, last week, Artificial Lawyer shared the news that Lexis and Harvey were forming an alliance, whereby Lexis would share its US legal data with Harvey – see here.

Artificial Lawyer asked about the new round of investment and what it meant. LexisNexis Legal & Professional responded:

‘REV, the venture capital arm of RELX which owns LexisNexis Legal & Professional, coordinated closely with us on its participation in Harvey’s recent funding rounds.

‘As part of our customer-focused approach to development, LexisNexis invests in and collaborates with recognized tech innovators to deliver the best AI solutions to legal professionals anywhere they work.

‘Our recently announced strategic alliance with Harvey is one example of this, where customers of Harvey will benefit from trusted AI-powered answers from LexisNexis Protégé. Our priority is to deliver the highest-quality legal AI answers and support exceptional legal work.’

So, there you go.

Clearly, with this additional REV investment Lexis and Harvey grow even closer. But, possibly the most striking aspect here is that the market is now normalising this relationship. And yet, just a few weeks ago, most people’s view of ‘how things are’ in the legal tech world was very different. This alliance, and thoughts about what may come next, have shaken away any complacency among market participants.

This underlines that despite the previous apparent stability there are powerful undercurrents at work in the legal tech sector and no doubt many deal proposals are flying back and forth between multiple parties. If there was to be another massive announcement connecting two other legal tech companies very soon it would be in keeping with the current environment.

As AL noted before, we have started a new chapter in legal tech history.

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If you’d like to stay ahead of the legal AI curve….then come along to Legal Innovators New York, Nov 19 + 20, where the brightest minds will be sharing their insights on where we are now and where we are heading. 

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Both events, as always, are organised by the awesome Cosmonauts team! 

Please get in contact with them if you’d like to take part.