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Spellbook

Spellbook

Speed Up Contract Drafting with Precision AI

Streamlines contract creation and review, enhancing legal workflows with fast, AI-driven insights.
#12 in "Legal
Price: Free

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Overview
Use cases
Features and Use Cases
Users & Stats
Pricing
FAQ
Pricing & discounts
UX/UI review
Video review
Reviews
Youtube reviews
Team
Founder interview
Funding
Overview
Use cases
Features and Use Cases
Users & Stats
Pricing
FAQ
Pricing & discounts
UX/UI review
Video review
Reviews
Youtube reviews
Team
Founder interview
Funding

Overview

Spellbook is a trailblazing AI tool designed to transform the  legal  profession by enhancing the drafting and review of contracts directly within Microsoft Word. Leveraging OpenAI's advanced GPT-4 model, Spellbook offers an intuitive interface that instantly suggests precise and contextually relevant legal language, streamlining contract creation up to ten times faster than traditional methods. It not only drafts and suggests improvements but also detects potentially aggressive terms and suggests missing clauses, ensuring comprehensive and legally robust contracts. This integration into everyday tools and its focus on enhancing legal productivity make  Spellbook  a valuable asset for legal professionals looking to optimize their workflow and focus more on strategic tasks.

Use cases

Here are some impactful use cases for Spellbook, reflecting the experiences and insights from a team that has thoroughly explored its capabilities:

  • Efficient contract drafting: legal professionals can draft contracts directly in Microsoft Word up to ten times faster than traditional methods. This significant speed boost allows lawyers to focus more on strategic aspects of their work;
  • Detailed contract review: Spellbook assists lawyers by providing AI-driven insights for contract reviews, enhancing the accuracy and efficiency of identifying critical elements and potential issues;
  • Redlining: the tool is adept at generating precise redlines, which are tailored changes and suggestions based on the user's instructions, streamlining the revision process;
  • Clause and language suggestions: Spellbook proactively suggests new clauses and appropriate language, based on the context of the document being worked on, ensuring relevance and legal robustness;
  • Negotiation support: the AI offers negotiation suggestions, facilitating smoother and more effective deal-making processes by highlighting key negotiation points;
  • Due diligence: an upcoming feature, Auto Diligence, aims to automatically identify critical issues in data room documents, which could revolutionize how due diligence is conducted by reducing time and increasing focus on significant findings.

These use cases demonstrate Spellbook's ability to integrate seamlessly into legal workflows, enhancing productivity and strategic focus by leveraging advanced AI technology.

Users & Stats

Website Traffic

Traffic Sources

Users by Country

FAQ

Spellbook was co-founded by Scott Stevenson, who serves as the CEO, Matt Mayers, the COO, and Daniel Di Maria, the CRO. Chris C Gardner recently joined the team as the Chief Strategy Officer (CSO)​.

Spellbook is backed by 17 investors, including Path Ventures, Good News Ventures, Bling Capital, Thomson Reuters Ventures, Concrete Ventures, N49P, The LegalTech Fund, Moxxie Ventures, and Inovia Capital as the lead investor in the Series A round​.

Yes, Spellbook is designed to seamlessly integrate with Microsoft Word, providing a familiar environment for legal professionals to work in while leveraging the power of AI for contract drafting and review processes​.

Spellbook emerges as a cutting-edge tool tailored for legal experts, enhancing the efficiency of drafting and reviewing contracts. It seamlessly integrates with Microsoft Word, offering real-time suggestions, edits, and annotations based on user instructions.

To date, Spellbook has garnered $32.5 million through eight funding initiatives. The most recent, a Series A round on January 24, 2024, brought in CA$27 million.

Spellbook stands out for its pioneering approach in the legal technology sector. It is uniquely designed as a generative copilot for transactional lawyers, leveraging extensive legal databases to boost precision and pertinence in contract management.

While detailed security strategies are not specified in the accessible information, firms like Spellbook generally adopt stringent encryption methods and adhere to best industry practices to protect sensitive data and ensure privacy.

Pricing & discounts

Spellbook offers a free trial that allows users to experience its features fully before deciding on a subscription. After the trial period, interested parties need to contact the company for detailed pricing information, which is tailored to the specific needs and scale of their legal practice. This approach allows users to evaluate the tool's value thoroughly before committing financially.

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Team

The Spellbook team is a dynamic group of leaders and innovators who are reshaping the legal sector through advanced technology. Leading the charge is Scott Stevenson, co-founder and CEO, whose strategic guidance has catapulted Spellbook from its early days into a key resource for transactional lawyers worldwide. Under Scott’s direction, Spellbook has achieved notable milestones, including its debut as the first generative tool specifically designed for transactional lawyers and securing significant funding to advance its mission.

Matt Mayers, another co-founder, holds the position of COO, applying his deep knowledge to refine corporate and commercial legal operations. Matt's forward-thinking approach has been instrumental in Spellbook’s operational success and expansion, ensuring the tool not only meets but surpasses the expectations of legal professionals.

Daniel Di Maria, also a co-founder and currently the CRO, dedicates his efforts to enhancing legal workflows through automated, technology-driven solutions. Daniel’s contributions have been key to establishing Spellbook as the most reliable tool of its kind in the legal arena.

Recently, Chris C Gardner joined the executive team as Chief Strategy Officer (CSO). His role encompasses leading strategic partnerships, personnel, and procedures to bolster the company’s rapid growth and operational excellence. With Chris’s rich experience and visionary leadership, he is poised to propel Spellbook's strategy, helping the company reach unprecedented levels in the legal tech industry.

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Scott Stevenson

CEO & Co-Founder

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Matt Mayers

Co-Founder & COO

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Daniel Di Maria

CRO and Co-Founder

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Chris C Gardner

Chief Strategy Officer (CSO)

Funding

Spellbook, a trailblazer in reshaping legal processes through cutting-edge technology, has impressively amassed $32.5 million through eight funding rounds, signaling a robust vote of confidence from investors in the transformative impact of their products on the legal landscape.

Their journey reached a crescendo with a Series A funding round on January 24, 2024, where Spellbook secured a hefty CA$27 million, under the leadership of Inovia Capital. This pivotal event marked a significant leap in the company's growth and development initiatives.

Rewinding to the earlier phase, on May 24, 2023, Spellbook undertook a Seed Round that brought in $10.9 million, steered by Moxxie Ventures as the lead investor. This round was critical for kickstarting product development and gaining a foothold in the market.

Furthermore, Spellbook has adeptly expanded its financial avenues beyond simple equity, securing $500K in debt financing from the Atlantic Canada Opportunities Agency on November 16, 2021. This move illustrates the company's savvy in navigating diverse financial landscapes to fuel its expansion.

The company has also benefited from grants and non-equity assistance, notably receiving a $265K grant on December 29, 2020, which emphasized the recognition of Spellbook's pioneering potential by various financial entities.

With 17 investors, including recent backers like Path Ventures and Good News Ventures, the broad interest in Spellbook’s mission to revolutionize legal workflows is evident. This diverse pool of supporters mirrors the strong belief in Spellbook’s vision and the practicality of their technological solutions to tackle intricate challenges within the legal sector.

This financial trajectory not only underscores Spellbook’s innovative spirit but also sets a promising stage for the company to continue pioneering advanced, user-centric solutions for legal professionals globally.

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