Spellbook Raises $20M Following 10x Revenue Growth and Global Expansion - Spellbook - AI Contract Drafting & Review
Summary
Were proud to announce our $20M Series A funding round led by Inovia Capital. With the new capital, well continue innovating within the legal AI sector, partnering with the most law firms of any generative AI that we know of and more importantly, to continue delivering new value to our customers.Over the last seven months, since announcing our seed funding, we have grown our customer base nearly 300% and are now working with over 1,700 law firms and legal teams. Spellbook demonstrates what can happen when one deeply integrates new capabilities into high-priority workflows and relentlessly experiments, measures and iterates to drive the most value. We are excited to continue working together and helping this team build the future of legal technology. Using their technology saves me anywhere from 25-30% of my time.With this new funding, our team plans to quickly scale into 30,000 law firms worldwide, while continuing to lead the market with new functionality: AI that mimics the style of a lawyer, AI that can automate a lawyers full end-to-end workflow, starting with a client email, and AI that is 10x more accurate for contract work than anything else on the market.