Edinburgh-based Legal AI Platform Secures €60.2 Million in Series B Funding to Expand Services for In-House Teams

Wordsmith, a legal AI startup based in Edinburgh, has recently announced a successful €60.2 million ($70 million) Series B funding round, bringing the total funding for the company to €86 million ($100 million).

The funding was secured from investors such as Highland Europe and Index Ventures. This round of funding coincides with Wordsmith’s expansion of its product offerings and the acquisition of new enterprise customers, including Sage and Starling.

Ross McNairn, who serves as the CEO and co-founder of Wordsmith, emphasized the company’s unique approach, stating, “Legal does not need another filing cabinet, and it does not need another copilot that simply helps one lawyer work faster. Wordsmith is the front door that does the work.”

Wordsmith, established in 2023 by McNairn, Volodymyr Giginiak (CTO), and Robbie Falkenthal (COO), aims to streamline legal operations for in-house teams, enabling them to work efficiently with the assistance of AI technology.

The platform provided by Wordsmith is designed to facilitate the work of in-house legal teams, enabling them to accelerate business processes, manage risks effectively, handle more tasks internally, and determine when external legal counsel is necessary.

Wordsmith’s platform focuses on four key actions: Receive, Route, Resolve, and Record. It consolidates all legal requests, regardless of their source, and ensures that each request is properly addressed and documented.

By following the legal team’s established procedures, Wordsmith automates routine tasks and escalates complex matters to lawyers when necessary. Every step of the process is meticulously recorded in real-time.

The company has experienced significant growth over the past year, with over 500 companies, including BT, Financial Times, Safelite, Trip.com, and Canva, adopting its platform.

Jean Tardy-Joubert, a Partner at Highland Europe, commended Wordsmith for its inclusive approach to legal affairs within companies, highlighting the platform’s ability to involve all employees in legal matters in collaboration with the in-house legal team.

With the latest funding, Wordsmith aims to enhance its AI platform, expand its global workforce to 300 employees by the end of the year, focus on the US market, and meet the increasing demand from corporate legal departments seeking to optimize internal processes, reduce external legal costs, and enhance legal oversight.