Artificial intelligence startup Spellbook raised $50 million in Series B funding round led by Khosla Ventures managing partner Keith Rabois. Valued at $350 million, the Toronto-based startup helps speed the writing of contracts. It’s part of a rush of AI firms betting that technology will transform the legal industry. Threshold Ventures, existing investor Inovia Capital, and others also participated in the funding.
Who to call at Spellbook, and when
A new round usually means Spellbook is about to hire and buy. The teams that reach out first get the meeting.
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Company Information
Company
Spellbook
Location
Toronto, Ontario, Canada
About
Spellbook is a legal software company which launched the first generative AI contract drafting tool in September 2022. The technology, powered by large language models like OpenAI’s GPT-4, is optimized using legal datasets for superior contracting performance. More than 1,700 law firms and legal team customers across the industry use Spellbook to support their lawyers with the resources to make more accurate and efficient legal decisions when drafting contracts and supporting documents.
AI made execution free. Knowing first is the whole game now.
Fundz sees it the moment Spellbook raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
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