Edinburgh founded legal AI company Wordsmith AI today announced a $14m extension to their $70m Series B, led by new investment from Intact Private Capital alongside existing investors Highland Europe and Index Ventures. FT Ventures has also become a shareholder in Wordsmith.
Founded in 2023 by CEO Ross McNairn, CTO Volodymyr Giginiak and COO Robbie Falkenthal, Wordsmith focuses exclusively on corporate legal departments rather than law firms. Its platform uses AI agents to organise, route and complete legal work across the business, integrating with systems such as email, Slack, Microsoft Teams and Salesforce to automate routine legal tasks and enable legal teams to handle more work internally.
The additional investment is said to follow a period of rapid growth for Wordsmith. Revenue has grown 14x year over year and the platform is now used by more than 500 companies, including BT, FT, Sage, Starling, Canva, and Safelite. It is anticipated that the funding will deepen Wordsmith’s presence in North America, where demand from enterprise legal teams is accelerating, and strengthens its footprint in the financial services and insurance sectors.
Justin Smith-Lorenzetti, managing director at Intact Private Capital, said: “In-house legal teams at financial services and insurance companies need legal infrastructure that can operate at enterprise scale while maintaining the control and auditability required in highly regulated environments. Wordsmith is built precisely for that challenge, with a deep understanding of how these organizations work and the infrastructure to match.”
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“The front door that does the work”: Wordsmith AI raises $70m Series B
