Source: Silicon Canals
Edinburgh, Scotland-based Wordsmith, a startup specialising in AI-powered legal operations for enterprises, announced that it has secured $5M (approximately €4.6M) in a seed funding round led by Index Ventures with participation from General Catalyst, Felix, Yellow, and S16vc.
The fresh capital will enable the Scottish company to build an in-house legal experience designed for employees.
“AI is not about replacing professionals. It’s about making them better at their jobs,” explains Wordsmith CEO Ross McNairn. “Just as the word processor didn’t replace writers, but instead made them more productive, Wordsmith is ushering in a new era of AI-assisted professional services,” adds McNairn.
Wordsmith aims to solve a critical challenge for in-house legal teams: the overwhelming volume of routine tasks that leaves lawyers struggling to keep up with business demands.
From verifying policy details to analysing contracts and managing complex financing, there is a high demand for human judgment and significant consequences for oversights.
Read full article: https://siliconcanals.com/scottish-startup-wordsmith-secures-4-6m/
