Octopus joins legal tech start-up Definely | Business News

A legal tech startup working with some of the world’s largest law firms to support more efficient contracting has secured a multi-million pound funding deal with prominent early-stage investor Octopus Ventures.

Sky News understands Definely, which was founded in 2020, will announce this week that it has raised $7 million (£5.9 million) in funding from a group of investors led by Octopus Ventures.

Definely employs 60 people and works with major global law firms such as A&O Shearman and Slaughter & May to provide lawyers with significant time savings.

The company was founded by Feargus MacDaeid – who is registered as blind – and Nnamdi Emelifeonwu, two lawyers who worked together at Magic Circle law firm Freshfields Bruckhaus Deringer.

The company plans to use the new funding, which will be announced in more detail on Wednesday, to expand in the US and to provide retention plans for key employees.

The company is also looking to diversify the products it offers for other legal and professional workflows.

London-based Definely’s clients outside the legal sector include accounting firm Deloitte and P&O Cruises.

Mr. Emelifeonwu, the founder of Definely, said: “In the ever-evolving landscape of law and technology, our commitment is to harness the power of innovation to redefine excellence.”

“With GenAI as our ally, we are poised to set a new standard of competency for legal solutions and seamlessly navigate the complexities of various industries.”

Other startups that Octopus Ventures has backed include Elvie, the femtech products company, and Olio, the food waste app.

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