The Ontario Teachers’ Pension Plan’s venture growth arm is adding to the US$550 million funding round that the startup announced on Sept. 9, which valued San Francisco-based Harvey at US$15.5 billion. (The Logic)

Talking point: The investment comes less than a year after the company opened a Toronto office. Harvey said Thursday it now works with 100 Canadian law firms and legal teams, and is hiring for engineering, sales and customer support roles in Toronto. The company has capitalized on a flush funding environment for legal AI companies, with Harvey, Legora and Clio alone raising over US$2.2 billion since August 2025. Investors have been watching specialized legal software firms like Thomson Reuters closely, to ensure they are keeping up with frontier AI companies like Anthropic. Rick Prostko, senior managing director of Teachers’ Venture Growth, said in a press release that Harvey’s control over its own AI model gives it a “durable advantage” in the industry.

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