Generative AI Assistant Spellbook Raises $10.9M in Funding Led by Moxxie Ventures and Rebrands from Rally

May 25, 2023

Overview

Spellbook, the generative AI assistant for lawyers, has raised $10.9m in a funding round led by Moxxie Ventures, and officially changed its name from Rally. The technology works as a Microsoft Word extension, providing AI-powered assistance in composing and analysing legal documents, offering advice on clauses and text editing, and identifying areas for negotiation in contracts. The software uses OpenAI‚Äôs GPT-4 language model, which Spellbook claims can increase a lawyer’s workload by 30%, and it is already being used by 600 legal teams with a waitlist of 53,000 people. Other generative AI-based legal tech companies include Lexion and Harvey.

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