The Edinburgh-headquartered startup Wordsmith, which is developing a legal assistant that utilizes artificial intelligence, raised $5M. Index Ventures led the seed round with the participation of General Catalyst, Felix, Yellow and S16vc.
The startup is focused on the European and British markets. The startup’s clients are corporate legal departments. Among the solution’s buyers is Trustpilot, a feedback platform with more than 238 million reviews as of September 2023.
Wordsmith uses data from leading law firms to help teams streamline their workflows. The solution allows an automated review of contracts (the function simplifies the process of reviewing and editing legal documents); creating a single source of legal information within the company, which facilitates the search for documents within the organization; and allows users to find answers to common questions. Wordsmith will use the funds it has raised to expand its team and product development.