Wordsmith AI, a Ukrainian-founded legal tech startup developing an AI-powered legal assistant, has raised $25 million in Series A funding. The round was led by Index Ventures, according to Andrii Brodetsky, a direct investment specialist at Horizon Capital.

Tech.eu reports that Scottish Enterprise has also joined the round. With this investment, Wordsmith’s valuation has exceeded $100 million, making it one of the fastest-growing technology companies to emerge from the Scottish ecosystem. The startup is based in Edinburgh.

“Our Legal Enablement platform is like a control room for general counsel and in-house legal teams, helping them make the right decisions faster,” said Ross McNairn, CEO and co-founder of Wordsmith.

The company’s clients include Trustpilot, Remote.com, Deliveroo, Multiverse, and Docplanner. To support its growth, Wordsmith plans to open new offices in London and New York later this year.

“We help legal counsel integrate legal knowledge into all business processes,” McNair added. “Gone are the days when the legal department was seen as a drag on processes; now it’s a driver of revenue growth.”

Wordsmith is introducing a new professional role in legal departments – a legal “engineer”. Unlike traditional legal operations positions, legal engineers specialize in training, deploying, and supporting fleets of AI agents.

Wordsmith was founded in October 2023 by Ross McNairn (CEO), Robbie Falkenthal (COO), and Ukrainian Volodymyr Giginyak (CTO).

Source: https://ain.ua/