Definely Secures £22,210,000 to Transform Legal Tech
In the fast-evolving world of legal technology, securing funding is a game-changer, and the latest triumph by Definely is a testament to that. This London-based AI-powered legal tech company has made waves by raising an impressive £22,210,000 (GBP) in Series B funding, which emphasizes the growing interest from investors in innovative legal solutions. Led by Revaia, this funding round also saw participation from esteemed firms like Alumni Ventures, Beacon Capital, and Clio, demonstrating a robust belief in Definely’s vision to reshape the legal landscape.
Since its inception in September 2017, Definely, co-founded by Nnamdi Emelifeonwu and Feargus MacDaeid, has gained significant traction in the legal sector.
The company’s revolutionary AI platform enables corporate and private practice lawyers to review and edit complex contracts in mere seconds, seamlessly integrating into existing workflows. With over 100 in-house legal teams and numerous top-tier private practice firms utilizing their technology, Definely is set to elevate the efficiency of legal practices globally. Its clients include renowned firms such as A&O Shearman, Slaughter and May, and corporate giants like BT Group and Deloitte, showcasing its far-reaching impact within the industry.
As Definely gears up to expand its global footprint and develop its AI product roadmap, this latest fundraising pushes the total investment to an astounding $40 million. For startup founders and investors alike, this serves as a compelling case study of how strategic funding can fuel innovation and growth. With a proven product and increasing demand within the legal sector, Definely is not just another tech startup; it's a pioneering force poised to redefine how legal professionals operate, making it an enticing opportunity for future investment.
Key Terms Explained
- Securing funding
- This term refers to the process of obtaining financial support to start or expand a business. It often involves creating a business plan, presenting it to potential investors, and negotiating the terms of the investment.
- AI-powered legal tech company
- This is a firm that uses artificial intelligence to offer innovative tech solutions in the legal sector. These solutions can range from simplifying document handling and contract analysis to case prediction and legal research.
- Series B funding
- This is the second round of funding for a company through investment including private equity investors and venture capitalists. It usually takes place after the company has achieved certain business milestones.
Frequently Asked Questions
- How much has Definely raised in their Series B funding round?-Definely has raised £22,210,000 in their Series B funding round.
- Who led the funding round for Definely?+
- What is the total amount of investment Definely has received to date?+
- Who are some of the renowned clients of Definely?+
- What is Definely's impact within the legal technology sector?+
They've invested in Definely
Get to know these Legaltech investors
| Investor | Sector | Stage | Activity | Team | Connect |
|---|---|---|---|---|---|
 Revaia | 2 investments investments | more info | |||
 Alumni Ventures | 8 investments investments | 24 contacts contacts | |||
 Beacon Capital | 7 investments investments | 3 contacts contacts | |||
 Clio | 1 investment investment | more info | |||
 Octopus Ventures | 43 investments investments | 14 contacts contacts | |||
 Raine | 2 investments investments | more info | |||
 Cornerstone VC | 10 investments investments | 1 contact contact |
Click here for a full list of 7,526+ startup investors in the UK