Led by Microsoft’s venture fund, M12, Nigerian-founded legal technology startup, Definely, has closed a $3,000,000 funding round.
With participation from CRE Venture Capital, the current funding would stimulate Definely’s product development, increase the number of innovative minds in its team, and help drive the company’s expansion into markets beyond the United Kingdom.
Nnamdi Emelifeonwu, chief executive officer (CEO) of Definely, founded the company alongside Feargus Macdaeid in 2017. Headquartered in the United Kingdom, the legal technology firm leverages artificial intelligence to make drafting, reviewing and understanding of legal documents seamless.
With just a single click, Definely’s platform allows you to identify information without navigating from where you are, making your contracts impressive. The company’s technology also helps eliminate the need for printing, reducing carbon footprints and the time spent on going through and working on legal documents.
Making needed information a priority, Lawyers of all levels can benefit from the company’s one-click solution. Key information in documents can be easily accessed and edited.
The company goes beyond speeding up review and drafting processes to allowing lawyers become more accurate with their output.
The legal technology startup is incorporating technology into the legal sector to increase productivity. So far, the company affirms to have attained an annual growth rate of 500% and aims to go beyond this, achieving a global reach.
Law firms, financial institutions and multinational corporations including Deloitte, Allen & Overy and Dentons, are some of the clientele the startup works with.
During the 2021 Tech Nation Rising Stars competition, the startup gained recognition as one of the 10 most exciting early stage scaleups in the United Kingdom. The company was also among the six Nigerian-led startups selected for the inaugural Google for Startups’ over $2,700,000 fund for Black Founders in Europe and was given an award as the ‘Most Promising Mature Business’ during KPMG’s Black Entrepreneurs’ Awards.