Vertical agents keep posting SaaS-beating ARR ramps.

Harvey reached ~$300M ARR by May 2026 across most of the AmLaw 100, Legora hit $100M in 18 months, Abridge added a $316M extension at $5.3B, FurtherAI raised $25M from a16z to automate underwriting and claims across the $7T insurance industry (SaaS Mag). The pattern: sector-specific safety and architecture that horizontal models can't match is where durable revenue concentrates. Capital is flowing to vertical agents with revenue and agent infrastructure, skipping thin model wrappers. The moat that survives is domain depth and workflow ownership, not UI or model access.