Legal AI group Wordsmith extends Series B with £10m boost
Wordsmith AI raises £10.4m in Series B extension, adding Intact Private Capital and FT Ventures to its investor roster.Summary
Edinburgh‑based legal‑tech firm Wordsmith AI has secured a £10.4m extension to its Series B round, bringing in new investors Intact Private Capital and FT Ventures alongside existing backers Highland Europe and Index Ventures. The AI‑native platform automates routine legal intake, contract review and internal requests, enabling corporate teams to handle more work in‑house and reduce outside‑counsel spend. The raise follows a 14‑fold YoY revenue jump and a client base of over 500 enterprises, including BT, Sage, Starling Bank, Canva and the Financial Times. CEO Ross McNairn said, "Every dollar that leaves a legal team and goes to outside counsel is a decision," highlighting the firm’s role in keeping work internal and demonstrating business impact. Managing director Justin Smith‑Lorenzetti added, "In‑house legal teams at financial services and insurance companies need legal infrastructure that can operate at enterprise scale while maintaining the control and auditability required in highly regulated environments. Wordsmith is built precisely for that challenge, with a deep understanding of how these organisations work and the infrastructure to match."
(Source：Uktn)