Spellbook AI Platform
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A Spellbook AI Platform is a legal tech platform owned by Dialog Enterprises Inc..
- Context:
- It can include a Spellbook Chatbot (2022, 2023, 2024).
- ...
- Example(s):
- Counter-Example(s):
- See: Low-Pricing Strategy, Document Automation.
References
2024
- https://www.reuters.com/legal/transactional/legal-ai-startup-raises-20-mln-sector-draws-more-investments-2024-01-24/
- NOTE:
- It specializes in generative artificial intelligence for contract drafting and contract review, leveraging large language models like OpenAI's GPT-4.
- It targets its services primarily at corporate and commercial lawyers in law firms and companies, assisting in improving contract language and negotiation points.
- It has successfully raised $20 million in a Series A funding round, led by Montreal-based Inovia Capital with contributions from other investors.
- It originally launched in 2019 under the name Rally and rebranded to Spellbook following its expansion into AI-driven contract tools.
- It has a diverse customer base, including small and midsize law firms, solo lawyers, larger firms, and various companies across different industries.
- NOTE:
2024
- https://linkedin.com/company/spellbookai/about/ 2024-01-24
- The AI Copilot for transactional lawyers, used by 1,700+ legal teams to review 1 million+ contracts per year.
- Company size: 39 associated members
2023
- "Spellbook, An ‘AI Copilot’ for Contract Drafting in Word, Raises $10.9M from Moxxie, Thomson Reuters, Others." https://lawnext.com
- QUOTE: Spellbook, a company formerly known as Rally Legal, and whose product uses GPT-4 and other generative AI models to speed contract drafting and review directly within Microsoft Word, has raised $10.9 million to drive hiring, development and expansion. The funding was led by Moxxie Ventures, with participation from Thomson Reuters Ventures, Inovia Capital, The LegalTech Fund, Bling Capital and others. ...
...
- QUOTE: Spellbook, a company formerly known as Rally Legal, and whose product uses GPT-4 and other generative AI models to speed contract drafting and review directly within Microsoft Word, has raised $10.9 million to drive hiring, development and expansion. The funding was led by Moxxie Ventures, with participation from Thomson Reuters Ventures, Inovia Capital, The LegalTech Fund, Bling Capital and others. ...
2023
- "SPELLBOOK TERMS OF SERVICE."
- QUOTE: These Terms of Service constitute an agreement (this “Agreement”) by and between Dialog Enterprises Inc., a corporation whose principal place of business is 100 Signal Hill Road, St. John’s, NL, A1A 1B3, Canada, carrying on business as Rally (“Rally”) and the corporation, LLC, partnership, sole proprietorship, or other business entity executing this Agreement (“Customer”). This Agreement is effective as of the date Customer clicks “Accepted and Agreed To” (the “Effective Date”). Customer’s use of and Rally’s provision of Rally’s Spellbook AI Platform (as defined below in Section 1.10) are governed by this Agreement.
- 1.10. “Spellbook AI Platform” means Rally’s Spellbook AI software-as-a-service application identified in any Order that allows Users to access certain features and functions through a web interface, particularly using Natural Language AI Models to draft, suggest, and modify contract language in Microsoft Word.
- These Terms of Service constitute an agreement (this “Agreement”) by and between Dialog Enterprises Inc., a corporation ...
- QUOTE: These Terms of Service constitute an agreement (this “Agreement”) by and between Dialog Enterprises Inc., a corporation whose principal place of business is 100 Signal Hill Road, St. John’s, NL, A1A 1B3, Canada, carrying on business as Rally (“Rally”) and the corporation, LLC, partnership, sole proprietorship, or other business entity executing this Agreement (“Customer”). This Agreement is effective as of the date Customer clicks “Accepted and Agreed To” (the “Effective Date”). Customer’s use of and Rally’s provision of Rally’s Spellbook AI Platform (as defined below in Section 1.10) are governed by this Agreement.
2023
- https://www.spellbook.legal/reviews
- SUMMARY:
- Spellbook Reviews is an AI tool that adds precise redlines and comments to contracts in Microsoft Word.
- It reviews entire documents instantly and suggests comments for approval.
- The AI is trained on billions of lines of legal text to understand contracting deeply.
- It integrates directly into Word for easy access where needed.
- It can automatically highlight risks and non-standard terms in contracts.
- It suggests specific changes and comments based on prompts.
- Over 1,000 legal teams use Spellbook's generative AI capabilities.
- It is powered by large language models like GPT-4 and trained not just on law but the entire internet, books, and Wikipedia.
- Spellbook is the only LLM-powered tool specially tuned for contracting and integrated with Word.
- It helps legal teams streamline their practices by adopting AI for redlining.
- SUMMARY:
2023
- https://linkedin.com/company/spellbookai/about/
- QUOTE: The legal tool for modern businesses their law firms.
Automate, collaborate, sign & stay organized — it's time to love legal!
- Website: https://www.spellbook.legal/
- Industry: Software Development
- Company size: 32 on LinkedIn
- Headquarters: Toronto, Ontario
- Founded: 2018
- QUOTE: The legal tool for modern businesses their law firms.
2022
- https://youtu.be/eYB_1cDCFbg?si=eJVHIR11ZWRG7Pdv Nov 15, 2022
- NOTE: The presentation features Scott Stevenson, co-founder and CEO of Rally, introducing Spellbook, a generative AI tool for contract drafting and review designed for legal professionals. Spellbook, which integrates with Microsoft Word, facilitates automatic drafting and completion of legal language, offering functionalities like generating legalese, autocomplete, and reviewing contracts. It uses GPT-3 to generate contextually relevant suggestions based on a vast database of legal documents and publicly available contracts, but does not use customer data for training. Spellbook is showcased to generate sections on specific legal topics with varying degrees of detail and creativity. It also includes a chatbot functionality for interactive querying about contract details, identifying potential concerns, and explaining complex clauses in simpler terms. Furthermore, Spellbook aids in identifying missing clauses and sections in contracts, potentially acting as a safety net for legal professionals. The future development aims at personalizing the AI's responses based on individual firm's documents and styles, enhancing its utility and accuracy.