Spellbook, a legal AI startup, secures $20 million in a Series A funding
Spellbook is thrilled to announce a successful $20M Series A funding round led by Inovia Capital, with participation from Thomson Reuters Ventures, The Legaltech Fund, Bling Capital, Moxxie Ventures, Concrete Ventures, Path Ventures, N49P, and Good News Ventures. CEO Scott Stevenson expresses excitement about the explosive growth since launching as the first generative AI contract drafting tool in 2022. Over the past seven months, Spellbook’s customer base grew nearly 300%, working with over 1,700 law firms, resulting in a 10x revenue increase. The funding will drive continued innovation in the legal AI sector, aiming to scale to 30,000 law firms globally and introduce new functionalities, including AI mimicking lawyers’ styles and automating end-to-end workflows.
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