Legal AI Tech Spellbook Raises $20 Million in Latest Funding

Spellbook, which calls itself an “AI copilot for lawyers,” has raised $20 million in a financing round led by Inovia Capital, it announced Wednesday.

The legal tech uses fine-tuned large language models, including OpenAI’s GPT-4, to help lawyers draft and review contracts more quickly—as much as four times faster, it says.

The software, integrated into Microsoft Word, was used last year at more than 1,700 law firms globally and on more than 1 million contracts, the company said.

Spellbook in May 2023 raised $10.9 million in funding led by San Francisco-based Moxxie Ventures, Montreal-based Inovia, and others.