London-based Definely, an AI-powered authorized tech firm, has raised $30M (roughly €26.2M) in Sequence B funding led by development investor Revaia, a expertise investor.
With the assist of main establishments, such because the European Funding Fund, Revaia helps growth-stage firms like Definely navigate their total life cycle from Sequence B to IPO or buyout.
The expertise investor additionally builds bridges between enterprise, personal fairness, and public markets and is a supportive sparring associate for entrepreneurs who’re working to rework the world for the higher.
Morgan Kessous, Accomplice, Revaia, says, “We’re proud to guide Definely’s Sequence B and assist an organization that’s setting the usual for AI-powered authorized expertise. This funding aligns completely with our perception within the transformative energy of vertical AI. With enterprise-grade merchandise already reside and gaining sturdy traction, Definely is now accelerating each its AI roadmap and worldwide enlargement – a journey we’re excited to assist.”
Others, together with Alumni Ventures, Beacon Capital, and the authorized tech big Clio, in addition to early traders equivalent to Octopus Ventures, Zrosk Funding Administration, The Raine Group, and Cornerstone VC, participated within the spherical.
This extra funding brings the overall quantity raised by Definely since inception to $40M (roughly €35M).
Fund utilisation
The UK-based legaltech firm will use the funding to speed up its world enlargement and AI product roadmap.
The newest fundraise will assist additional enlargement, with key workers shifting to the East Coast, the place Definely has just lately appointed a US-based Normal Supervisor.
The funding can even be used to additional develop new and current merchandise with the objective of tremendous powering authorized workflows.
The announcement comes per week after launching its first agentic product, ‘Improve.’
In line with the corporate, the agentic AI programs have enhanced autonomy, decision-making capabilities, and adaptableness.
Nnamdi Emelifeonwu, Co-Founder & CEO, Definely says, “As a enterprise, we’re deeply dedicated to constructing human-first merchandise, leveraging generative AI not for the sake of it – however to resolve actual and tangible issues that legal professionals face right now. As a former lawyer myself, I witnessed a few of these issues first-hand,”
“As a enterprise, we’ve got remained extremely capital environment friendly, prioritising sustainable development fairly than development in any respect prices. I consider this strategy, mixed with our world-class group and merchandise, will enable us to succeed as we broaden into new markets,” provides Emelifeonwu.
Definely: AI-powered authorized tech firm
Based in 2017 by Nnamdi Emelifeonwu and Feargus MacDaeid, Definely is an AI-powered authorized tech firm that permits company and personal follow legal professionals to precisely assessment and edit complicated contracts in seconds by seamlessly integrating into current workflows.
The corporate’s platform is at the moment trusted by over 100 in-house authorized groups and personal follow corporations, with 1000’s of customers worldwide.
Definely claims to have nearly tripled its annual recurring income (ARR) in 2024, following a speedy enhance in buyer development.
Its clients embrace prime Magic Circle and White Shoe corporations, together with A&O Shearman, Slaughter and Could, DLA Piper, and Dentons, and in-house company counsel for blue-chip firms equivalent to BT Group, Deloitte, and P&O Cruises.
The corporate has gained sturdy traction within the US market, which now accounts for 30 per cent of its income.
The corporate has a group of 84 workers, which is projected to surpass 100 in H2 2025.
