Wordsmith AI has raised a $14 million extension to its Series B financing to expand its enterprise legal AI platform for in-house legal teams. The extension was led by new investor Intact Private Capital, with participation from existing investors Highland Europe and Index Ventures. FT Ventures also joined Wordsmith as a shareholder.
The financing follows a period in which Wordsmith reported 14-fold year-over-year revenue growth and expanded its customer base to more than 500 companies. Customers include BT, the Financial Times, Sage, Starling, Canva and Safelite.
Wordsmith plans to use the additional capital to deepen its presence in North America, where the company said demand from corporate legal departments is increasing.
The funding will also support further expansion across financial services and insurance, where legal teams require controlled and auditable systems for handling work in regulated environments.
Wordsmith is built specifically for in-house legal departments rather than law firms.
The company said corporate legal teams need technology that helps them resolve more work internally, reduce outside counsel spending and provide faster legal support across their organizations.
Wordsmith’s platform receives and routes legal requests, uses AI agents and approved playbooks to complete routine tasks, escalates matters requiring professional judgment and records each step of the process.
The company said enterprises with more than 10,000 employees are already using the platform.
Some customers have reported seven-figure reductions in outside counsel spending within their first weeks of use.
Wordsmith also said legal teams that previously spent between 70% and 80% of their time on routine work have been able to redirect more of that time toward higher-value matters.
Regulatory and multi-jurisdictional questions that may previously have been sent directly to outside counsel can now be assessed internally before external lawyers are engaged.
The Financial Times is both a customer and investor. Its in-house legal team selected Wordsmith as its enterprise legal AI platform, while FT Ventures participated in the financing.
Wordsmith positions its technology as a system of action for corporate legal departments, combining workflow automation, institutional knowledge and human review within one platform.
KEY QUOTES:
“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.”
Justin Smith-Lorenzetti, Managing Director at Intact Private Capital
“FT’s own in-house legal team has chosen Wordsmith as its enterprise legal AI platform, providing the FT’s business faster access to legal support.”
Alexandra Calinikos, Chief Investment Officer at FT Ventures
“Requests come in, AI agents complete the routine work, lawyers approve what requires judgment, and every step is recorded.”
“The result is a legal function that keeps more work in-house, spends less on external counsel and can finally show the business the impact it delivers.”
Ross McNairn, CEO and Co-Founder of Wordsmith AI
