Wordsmith, an AI platform serving in-house legal teams, secured $70M in Series B funding, bringing total funding to $100M. The platform assists lawyers with contract drafting and legal research.
Wordsmith's funding round reflects growing investor interest in AI applications for corporate legal work. The platform enables in-house legal departments to automate routine tasks like contract generation and legal question resolution.
The startup's approach targets a structural shift in legal services: reducing corporate reliance on external law firms by empowering internal teams with AI capabilities. Rather than accelerating lawyer productivity, the technology aims to reduce headcount needs for legal work handled outside major corporations.
In-house legal departments manage significant contract volumes and routine legal inquiries. Automating these functions could lower operational costs for corporations managing complex contractual obligations. The $70M Series B demonstrates investor confidence in this market segment as companies increasingly adopt AI for specialized knowledge work.
Wordsmith joins a growing cohort of legal tech startups addressing AI-driven transformation in the profession, competing in a space that includes both established legal software providers and newer AI-native entrants.
Anew Labs, a Shanghai-based artificial intelligence drug discovery startup spun off from ByteDance, secured $290 million in funding from investors including HSG and IDG Capital, valuing the company at $1.5 billion.
Women's health company Evvy announced a $40 million Series B funding round led by Catalio Capital Management. The capital will support the company's mission to advance women's health research through vaginal microbiome data.
Pulley, a cap table management platform used by startups to track equity and funding, will cease operations after December 8 following seven years in business. The company had raised over $50 million from investors including Founders Fund.
CADDi, an AI software maker for manufacturers, secured $114 million in Series D funding at a $1.2 billion valuation. The round represents a 155% increase from the startup's $470 million valuation in 2025.