Source: Definely
AI-powered legal tech company, Definely, has raised $30 million in Series B funding to accelerate its global expansion and AI product roadmap. The round includes investors from Europe and North America, and it is led by growth investor Revaia, alongside Alumni Ventures, Beacon Capital, and legal tech giant, Clio. Early investors, including Octopus Ventures, Zrosk Investment Management, The Raine Group, and Cornerstone VC have also participated in the round.
Definely has gained strong traction in the US market, which now accounts for 30% of its revenue. The latest fundraise will support further expansion, with key employees moving to the East Coast and where Definely has recently appointed a US-based General Manager. The funding will also be used to further develop new and existing products with a goal of superpowering legal workflows. Last month, Definely announced the launch of its multi-agent AI system, ‘Enhance’.
The products allow lawyers to retain contextual understanding of legal documents by instantly surfacing relevant information within and across contracts. Overall, Definely expects customers to see at least a 40% speed improvement in their workflows using its latest AI product, Enhance, versus a traditional manual approach.
Nnamdi Emelifeonwu, Co-Founder & CEO, Definely: “This latest investment round is a testament to the hard work of an incredible team and the trust our customers have placed in us. 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. This funding will allow us to invest further in developing and integrating our products. We recently launched our first agentic product, ‘Enhance’, which has been well received by our customers, and have a series of further exciting features in the pipeline. As a business, we have remained highly capital efficient, prioritising sustainable growth rather than growth at all costs. I believe this approach, combined with our world-class team and products, will allow us to succeed as we expand into new markets.”
Morgan Kessous, Partner, Revaia said: “We are proud to lead Definely’s Series B and support a company that is setting the standard for AI-powered legal technology. This investment aligns perfectly with our belief in the transformative power of vertical AI. With enterprise-grade products already live and gaining strong traction, Definely is now accelerating both its AI roadmap and international expansion – a journey we are excited to support. The transaction is also marking our first investment in the UK since opening our London office, which is an important milestone for Revaia.”
Read the full article: https://www.definely.com/newsroom/ai-powered-legal-tech-scale-up-definely-raises-30m-series-b
