Spellbook (FKA Rally), a Toronto and Saint John’s, Canada-based legal software company, raised $10.9M in funding.
The round was led by Moxxie Ventures, with participation from Thomson Reuters Ventures, Inovia Capital, The LegalTech Fund, Bling Capital, N49P, Concrete Ventures, Good News Ventures, Venture Newfoundland & Labrador.
The company intends to use the funds to expand hiring, R&D and expansion efforts.
Led by CEO Scott Stevenson and COO Daniel Di Maria, Spellbook is a legal software company which launched a generative AI contract drafting tool in September 2022. The technology, powered by large language models like OpenAI’s GPT-4, is optimized using legal datasets for high contracting performance.
More than 600 customers across the legal industry use it to support their lawyers with the resources to make accurate and efficient legal decisions when drafting contracts and supporting documents.
Spellbook was originally launched by Rally in 2022. The rest of Rally’s product suite will remain active and be combined with Spellbook’s AI to create a holistic, AI-driven legal management platform.
FinSMEs
24/05/2023