Legal tech platform Definely raises $30M Series B to make contract reviewing more efficient

Nnamdi Emelifeonwu has always been intrigued by the unique challenges faced by his colleague, Feargus MacDaeid, one of the few registered blind lawyers in the U.K. Both worked at the renowned global law firm Freshfields. When Emelifeonwu inquired about how he could assist MacDaeid in his legal work, the response was clear: "Help me navigate definitions in complex contracts without losing context," MacDaeid explained to TechCrunch. This conversation sparked an idea that would not only aid MacDaeid but also resonate with the entire legal profession. In 2017, Emelifeonwu and MacDaeid co-founded Definely, an AI-driven legal technology startup aimed at enhancing the efficiency of contract review and editing. Recently, the company announced it has raised $30 million in Series B funding from a diverse group of investors across Europe and North America, including Revaia, Alumni Ventures, and Beacon Capital. This follows a successful $7 million Series A round just last May. Definely provides a comprehensive productivity suite designed to streamline legal drafting and review processes. Key features include a Draft tool that enables lawyers to read contracts and easily navigate definitions and clauses; a Vault feature that allows users to insert clauses with a single click; a Proof tool that utilizes AI to identify inconsistencies and broken cross-references; and a PDF feature for extracting and analyzing information from scanned legal documents. Looking towards the future, Emelifeonwu highlighted the launch of their new agentic AI system called Enhance, which collaborates with Microsoft Word. "These AI agents work together to simplify tasks related to drafting, reviewing, and proofreading, making the workflow more efficient for legal professionals," he stated. Describing the fundraising journey as both challenging and rewarding, Emelifeonwu noted that they were introduced to lead investor Revaia, while other investors approached the company independently. Remarkably, they did not actively seek out any investors during this round. The newly acquired funds will primarily support Definely's expansion into the U.S. market, which currently represents 30% of the company’s revenue. The company also aims to invest further in AI technology and grow its team. In a landscape where other companies, such as Luminance, Robin AI, and ContractPodAi, are also innovating in legal contract management, Emelifeonwu, a Nigerian immigrant, reflects on his journey. He has always aspired to be a lawyer, but once he entered the profession, he was inspired to embrace entrepreneurship. "I’ve always had ideas, and when the right one came along that directly addressed the challenges I faced as a lawyer, I knew I had to pursue it," he shared. Emelifeonwu also recognizes the significance of this funding round in the context of the venture capital landscape, particularly for Black founders, who statistically represent a small portion of annual fundraising. "Securing this capital and building a truly global enterprise represents a personal achievement and serves as a beacon of hope for others who may not follow conventional paths but possess the potential for meaningful impact," he concluded.