Legal tech startup raises £2.2m

Legal tech startup Definely has announced a £ 2.2 million round of funding.

The funding round was led by M12, Microsoft’s venture fund, and CRE Venture Capital. This brings the startup’s total fund to £ 3.4 million.

According to Technext, Definely helps lawyers crawl the pages of soft and hard copies of legal documents, helping them find and explain the key information they need.

The firm’s co-founder and chief executive officer, Nnamdi Emelifeonwu, said, “Legaltech is no longer a young sector as it is fast becoming an integral part of the work of today’s lawyers.

“Legal technology emerges and becomes embedded in the way the modern lawyer works.

“In any case, it not only speeds up the review and drafting process, but above all enables a lawyer to edit his results more precisely, as he never has to leave his office and lose context while working on a document.”

The company was founded in 2017 and uses artificial intelligence to make it easier to write, read and understand contracts.

According to the company, it will use this latest funding to accelerate its product development, add to its world-class team and drive further expansion into markets outside the UK.

The startup added that it had a 500 percent year-over-year growth rate in its user base.

It said it anticipates its growth rate will increase as the demand and acceptance of legal technology increases worldwide.

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