March 25 was one of the densest days of the year for application-layer AI — four notable moves landed together.
Harvey raises $200M at an $11B valuation
Legal-AI company Harvey raised $200M co-led by GIC and Sequoia (March 25), months after an $8B round in December, pushing total funding past $1B. The money goes toward its legal AI agents and embedded legal-engineering teams — vertical AI continuing to compound.
Granola raises $125M at a $1.5B valuation
AI notetaker Granola raised a $125M Series C led by Index Ventures (March 25), up from a ~$250M valuation last round on reported 250% quarterly revenue growth. It's expanding from a prosumer notetaker into an enterprise app (team "Spaces", personal/enterprise APIs, an updated MCP server), with customers like Vanta, Gusto, Asana, Cursor, and Lovable.
Sierra ships an agent that builds agents
Bret Taylor's Sierra launched Ghostwriter (March 25), a self-service builder that turns plain-English SOPs, transcripts — even whiteboard photos — into production customer-service agents (voice/chat/email, 30+ languages), with a loop that analyzes real interactions, validates fixes in a sandbox, and ships updates automatically. It's Sierra's bid to scale past bespoke deployments.
ElevenLabs voice comes to IBM watsonx
Also March 25, ElevenLabs and IBM integrated ElevenLabs TTS/STT into IBM watsonx Orchestrate, giving enterprise agent-builders 10,000+ voices and phone agents in ~70 languages, with enterprise data protections.
Model watch: Gemini 3.1 Flash Live
On March 26, Google released Gemini 3.1 Flash Live, a realtime audio-to-audio voice model (90+ languages, native speech in/out — no STT→LLM→TTS pipeline). It matters here because it's the kind of model the voice-agent products above are built on.
What it means if you're picking tools
Voice, support, and notetaking are where the money and momentum are pooling. See voice & audio, customer support, and transcription.
Sources: Harvey $11B (CNBC) · Granola $1.5B (TechCrunch) · Sierra Ghostwriter · ElevenLabs × IBM (IBM Newsroom) · Gemini 3.1 Flash Live (Google)