Definely, a UK-based legal technology startup, has announced its $30 million Series B funding round. This investment will enable them to grow their artificial intelligence (AI) offerings, specifically tailored for the legal industry. The funding round, led by Revaia, aims to broaden Definely's reach and enhance its platform, which assists lawyers in creating, drafting, and reviewing legal documents. With a growing customer base that includes major corporations and law firms, Definely is poised to further innovate legal processes through AI.

Funding and Investors

Revaia led the Series B funding round. They were included by other strategic players such as Alumni Ventures, Beacon VC, Clio, Octopus Ventures, Zrosk Investment Management, Cornerstone VC and The Raine Group. This investment is a huge step forward for Definely. It’s the fuel to scale its operations and invest in evolving its generative AI-fueled legal solutions to market. The firm last raised £1 million nearly five years ago.

Definely's AI-Powered Platform

Co-founded in 2017 by CEO Nnamdi Emelifeonwu and Chief Strategy Officer Feargus MacDaeid, Definely offers AI solutions to streamline legal work. Its platform is used by more than 100 customers, including BT, IKEA, JPMorgan, DLA Piper and Shoosmiths. With Definely’s technology, lawyers have the ability to quickly discover precedent clauses and fully understand provisions. It also automates many proofreading checks, significantly improving efficiency and accuracy for legal documentation.

Addressing Funding Disparities

Definely's CEO, Nnamdi Emelifeonwu, reflected on the company's journey from its humble beginnings to securing substantial funding. In particular, he welcomed the recognition of the challenges accessing funding in Europe, especially for those founding underrepresented founders. Emelifeonwu’s experiences make for a compelling read on LinkedIn. He criticized the inequality of the funding opportunities and applauded Definely’s success as a bright spot in a highly competitive field. Definely went on to be named one of the UK’s 50 fastest-growing tech companies by Deloitte’s Fast 50 programme in 2023.