Irish co-founded legal AI start-up Wordsmith raises $70m to fund growth
Irish legal AI start-up Wordsmith has secured $70m in funding to expand its operations and support in-house legal teams.Summary
Wordsmith AI, an Irish co-founded technology start-up, has raised $70m (€60.25m) in a Series B funding round led by Highland Europe and Index Ventures. The Edinburgh-based company aims to reduce companies' external legal bills by using AI to support in-house lawyers. The funding will drive go-to-market hiring in Ireland, a significant target market for the firm. Wordsmith, co-founded by Ross McNairn and Robbie Falkenthal, is currently used by over 500 in-house legal teams worldwide, including clients like Penneys, Wayflyer, the Financial Times, Revolut, and BT. The platform is designed to handle routine legal work and escalate complex issues to human lawyers. With the new capital, Wordsmith plans to grow its global workforce to 300 people by the end of the year and expand further into the US.
(Source：The Independent)