Definely, a UK-based LegalTech startup co-founded by ex-Magic Circle lawyers Feargus MacDaeid and Nnamdi Emelifeonwu, has successfully raised £5.6 million in a Series A funding round to further develop its innovative product designed to streamline the reading, editing, and understanding of legal documents. The funding round was led by Octopus Ventures, with additional investments from Cornerstone VC, Zrosk Investment Ltd., and several high-profile angel investors. As part of the funding deal, Edward Keelan from Octopus Ventures will join established board members from CRE Venture Capital and Zrosk Investments. Definely offers a suite of productivity tools available on a subscription basis that assists lawyers in the pre-execution stages of contract lifecycle management. Definely Vault, one of its products, utilizes AI techniques to build a taxonomy of contract repositories, extracting critical data and clauses, enhancing accessibility and efficiency in drafting and reviewing contracts. The company, headquartered in London with a global workforce, aims to expand its active user base which already includes top law firms and Fortune 500 companies. Notably, Definely was recognized among the UK’s 25 fastest-growing tech firms by Deloitte’s UK Technology Fast50 in 2023. The co-founders of Definely, MacDaeid, who is registered blind, and Emelifeonwu, a Nigerian migrant, developed this technology to address the cumbersome processes traditionally associated with handling legal documents. Their innovative solution now promises substantial time savings for legal professionals. Moreover, the adoption of Definely’s Microsoft Word Plugin showcases its commitment to simplicity and integration with existing legal workflows, a factor in its rapid ascent as a leading provider of legal technology solutions.

LegalTech, Venture Capital, Artificial Intelligence,United Kingdom, Global

Registered blind & migrant lawyers raise £5.6m for startup