Definely, an AI-driven legal tech firm established by two ex-associates from Freshfields, has secured $30m (£22.1m) in a Series B funding round.
The company was launched in 2020 by Nnamdi Emelifeonwu and Feargus MacDaeid, who previously collaborated at the Magic Circle law firm.
Initially, the duo aimed to make legal documents more accessible for visually impaired individuals, as Mr MacDaeid is registered blind. However, their venture evolved into Definely, a tool with broader appeal, particularly for lawyers dealing with high-pressure, intricate transactions, as reported by City AM.
Definely allows legal professionals to create, draft, and review legal documents using a single platform, eliminating the need for multiple systems or platforms.
Among its clientele are City law firms such as A&O, Shearman, Slaughter and May, DLA Piper, and Dentons, as well as in-house corporate counsel for companies like BT Group, Deloitte, and P&O Cruises.
The company is also experiencing a growth spurt in the US market, with 30 per cent of its revenue originating from business across the pond.
Investors in this round included Revaia, Alumni Ventures, Beacon Capital, and legal tech titan Clio. Early backers Octopus Ventures, Zrosk Investment Management, The Raine Group, and Cornerstone VC also participated.
This latest injection of capital takes Definely’s total fundraising haul to $40m.
Commenting on the injection of funds, Mr Emelifeonwu said: “As a business, we are deeply committed to building human-first products, leveraging generative AI not for the sake of it – but to solve real and tangible problems that lawyers face today.
“As a former lawyer myself, I witnessed some of these problems first-hand.”
In April 2024, London AI firm Luminance snagged $40m in a Series B funding round. Meanwhile, December saw football stars Harry Maguire and Reece James co-lead the investment pack in British legal tech upstart Lawhive’s $40m Series A fundraiser.
