Edinburgh- and New York-based legal AI company Wordsmith has raised a $14 million extension to its Series B funding round, led by new investor Intact Private Capital, with participation from existing backers Highland Europe and Index Ventures. FT Ventures has also become a shareholder in the company.
The announcement, made on 5 August 2026, follows a Series B round the company closed earlier in the summer. Wordsmith said the additional capital will deepen its presence in North America and strengthen its footprint in the financial services and insurance sectors.
Wordsmith said revenue has grown 14x year over year and that its platform is now used by more than 500 companies, including BT, FT, Sage, Starling, Canva and Safelite. The company said enterprises with more than 10,000 employees are running on Wordsmith today, and that customers are seeing “seven-figure savings in outside counsel spend in the first weeks of use.”
Wordsmith said teams that previously spent 70 to 80 percent of their week on routine work are reclaiming that time for higher-value matters, and that regulatory and multi-jurisdiction questions “that once went straight to external counsel are now handled in-house first, with outside support reserved for where it genuinely adds value.”
Built for in-house legal teams
Unlike legal AI startups that serve both law firms and corporate legal departments, Wordsmith is built exclusively for in-house legal teams. The company argues the two markets require fundamentally different products: law firms manage external matters and operate around billable hours, while in-house teams need to resolve more work internally, control outside counsel spend and provide faster support to every part of the business.
Its platform describes itself as a “system of action” that receives requests from across the business, routes them with context, resolves routine work with AI agents and approved playbooks, brings in lawyers when judgment is needed, and records every step. The company says its legal intelligence layer draws on “hundreds of trusted sources across 130+ jurisdictions.”
Justin Smith-Lorenzetti, Managing Director at Intact Private Capital, said: “Intact Private Capital is excited to support Wordsmith at this stage of growth. 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. Wordsmith is built precisely for that challenge, with a deep understanding of how these organizations work and the infrastructure to match.”
Alexandra Calinikos, Chief Investment Officer at FT Ventures, said: “Wordsmith’s solutions for in-house legal teams are rethinking not only how lawyers work, but also how commercial and legal teams engage with each other. 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. Alongside this operational relationship, FT Ventures is excited to support Wordsmith in their next phase of growth as they deliver the infrastructure to make legal work more efficient for businesses globally.”
Ross McNairn, CEO and co-founder of Wordsmith, said: “Every dollar that leaves a legal team and goes to outside counsel is a decision. Too often, those decisions are made by default rather than by design, because legal teams have never had the infrastructure to handle the work internally. Wordsmith gives them that infrastructure. 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.”
Scottish AI scale-ups
Wordsmith’s Edinburgh roots make the extension one of the more visible follow-on rounds for a Scottish-founded AI scaleup this summer, in a year when Scottish legal-tech and AI investment has drawn national attention. The company’s continued backing from tier-one European investors — combined with a new US-based lead and the Financial Times’ investment arm coming onto the cap table — points to sustained international appetite for enterprise legal AI built out of Scotland.
The North America and financial services / insurance focus of the round also aligns with the sectors where Scottish fintech and AI clusters have been trying to build stronger transatlantic pipelines.
