A company raised $200 million at an $11 billion valuation while Claude Code released 13 AI plugins, including one targeting legal work. The funding surge boosts founder egos and hype, but AI tools threaten traditional SaaS players like Thomson Reuters as enterprise budgets shift.
There's a lot of different forces happening here. Right. It's often oversimplified by people. Fundamentally, though, software customers, are they going to buy more in the future? Yes.
We mentioned that. New companies bringing enterprise value and expanding budgets. Harvey, we mentioned that. Raised in December, raised 200 million at an $11 billion price. It must be quite nice every month to fundraise. It's just like a nice hit of like, ego, isn't it? Oh, another $200 million from venture investors. A nice bunch of secondary. Ooh, nothing wrong with that. It drives a lot.
Of. This is secondary. It drives a lot of it.
Okay, let's talk about this. How do we think about this deal? They're going to end the year supposedly at close to 600. The growth is pretty phenomenal from 200 today.
How do we think about this? First of all, let's just pick the obvious point. It was fun that it happened this week, because if you think of what also happened this week is Claude Code produced a plugin, 13 plugins, and one of the plugins was the legal plugin. And that's one of the things that's alleged to have caused the SaaS apocalypse. Oh, my God. The old school vendors, Thomson Reuters and some of these guys declined. Right. While at the same time, a company who, if you square it one way, is just quote unquote, a GPT wrapper or a Claude code wrapper raised $200 million at 11 billion. So literally, the kind of whiplash in terms of the thinking here is hilarious, right?
