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Markets2026-08-11 · source-backed
Tomasz Tunguz put them side by side on August 9: Harvey ~$100M at $5B (50x), Legora ~$100M at $5.6B (56x), Sierra ~$100M at $10B (100x). The fastest grower priced near the bottom of the range, so growth rate doesn't explain a 2x spread. He also notes these companies aren't showing the multiple compression at scale that traditional SaaS reliably showed, and 2026 multiples have climbed back to 2021 levels with roughly 3x faster underlying growth. Figures blend company statements with third-party estimates, so trust the direction more than the decimals.
Each link below shares sources, entities, or timing with this story.
Zendesk uses SaaS / Shared entities / Earlier coverage
Linked by a graph relationship (Zendesk uses SaaS); both cover ARR, SaaS, Sierra; earlier ARR coverage from 2026-04-24.
Harvey uses Claude / Shared entities / Shared topic / Earlier coverage
Linked by a graph relationship (Harvey uses Claude); both cover ARR, SaaS; overlapping topics (category, company).
Intercom uses SaaS / Shared entities / Shared topic / Earlier coverage
Linked by a graph relationship (Intercom uses SaaS); both cover ARR, SaaS, Sierra; overlapping topics (aren, company).
Intercom uses SaaS / Shared entities / Earlier coverage
Linked by a graph relationship (Intercom uses SaaS); both cover ARR, SaaS; earlier ARR coverage from 2026-05-29.
Zendesk uses SaaS / Shared entities / Earlier coverage / Tension
Linked by a graph relationship (Zendesk uses SaaS); both cover ARR, SaaS; earlier ARR coverage from 2026-08-08.
Harvey uses Claude / Shared entities / Earlier coverage
Linked by a graph relationship (Harvey uses Claude); both cover August, SaaS; earlier August coverage from 2026-08-05.
Linked by a graph relationship (Harvey uses Claude); both cover ARR, SaaS; earlier ARR coverage from 2026-05-20.
Zendesk uses SaaS / Shared entities / Earlier coverage
Linked by a graph relationship (Zendesk uses SaaS); both cover ARR, SaaS; earlier ARR coverage from 2026-04-18.