Definely Raises $7m to Expand Legaltech Operations

Definely Raises $7m to Expand Legaltech Operations

Alessia Rossi
2 min read

Legaltech Startup Definely Raises $7M in Series A Round

Legaltech startup Definely has recently secured $7 million in a Series A funding round, with Octopus Ventures leading the round and contributions from Cornerstone VC and Zrosk Investment Ltd. This noteworthy investment comes after previous funding from industry giants Google and Microsoft. The London-based company specializes in providing AI-powered tools designed to aid lawyers in comprehending and modifying documents, and it plans to utilize the new capital to expand its operations in the United States and develop additional AI-based products. Established in 2020, Definely has garnered an impressive 40,000 active users, including legal professionals from renowned firms such as Slaughter & May, Dentons, Deloitte, and P&O Cruises. As the legaltech sector experiences escalating competitiveness, Definely aims to distinguish itself by harnessing AI to streamline processes and target the considerably larger US legal market, which is approximately ten times the size of the UK's.

Key Takeaways

  • Definely secures $7 million in Series A funding to advance AI-powered software tailored for lawyers in document comprehension and modification.
  • The funding round is led by Octopus Ventures, with backing from Cornerstone VC, Zrosk Investment Ltd, and angel investors.
  • Definely intends to utilize the funds for enriching its suite of AI-based products and expanding its operations within the United States.
  • The legaltech space witnesses cutthroat competition, as firms vie to incorporate AI in simplifying processes including document drafting and evaluation.
  • Definely boasts a user base of 40,000 active legal professionals from prominent firms such as Slaughter & May, Dentons, Deloitte, and P&O Cruises.


The substantial $7 million Series A funding, spearheaded by Octopus Ventures and bolstered by Cornerstone VC, Zrosk Investment Ltd, and angel investors, underscores the prevailing confidence in AI-driven legaltech solutions. This development might catalyze increased investment in the sector, potentially prompting consolidation within the competitive landscape. With the injection of funds, Definely is poised to extend its reach and product portfolio in the expansive US legal market. Concurrently, backers from the UK, including Slaughter & May, Dentons, Deloitte, and P&O Cruises, are likely to closely monitor Definely's performance, anticipating favorable returns and potential technology integration. In the long run, AI-enhanced legal services are expected to become customary, reshaping the industry and necessitating new skill sets from legal professionals worldwide.

Did You Know?

  • Legaltech Startup: This term denotes companies leveraging technology to introduce innovative solutions within the legal industry, focusing on automating and streamlining legal processes, enhancing lawyer productivity, and improving client experience.
  • Series A Funding Round: Series A funding represents a vital stage of venture capital financing, enabling companies to secure resources for their expansion and development following a seed round. It serves as the second significant investment phase, primarily targeting operational expansion and product development within startups.
  • AI-Powered Tools for Lawyers: The increasing incorporation of Artificial Intelligence (AI) in the legal sector aims to automate and streamline tasks. AI-powered tools, exemplified by Definely, aid lawyers in efficiently comprehending and modifying documents through the utilization of machine learning algorithms for analyzing and interpreting legal texts.

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