Definely secures strategic investment from Raine Ventures to accelerate US expansion

Definely secures strategic investment from Raine Ventures to accelerate US expansion

London, Thursday 18 July 2024 - Definely, the UK-based LegalTech company focused on simplifying legal documents, today announces a strategic investment from Raine Ventures, the venture arm of US investment firm The Raine Group (“Raine”). This partnership marks a significant milestone in Definely's growth trajectory, building on its customer base which includes elite law firms and Fortune 500 companies such as A&O Shearman, Milbank LLP and Deloitte.

The investment from Raine Ventures positions Definely to capitalise on its early success in the US market. Raine manages investment strategies across growth equity and venture capital, with current assets under management exceeding $3.4 billion. Raine’s extensive industry network and expertise in the technology, media, and telecom (TMT) sectors make them an ideal partner for Definely's expansion plans.

This move comes at a pivotal stage in Definely’s growth, following its successful Series A announcement in May. As Definely seeks to strengthen its foothold in the United States and break into new industries, Raine's global network and strategic guidance, which have benefited numerous fast-growing TMT enterprises, are expected to be invaluable assets. This new partnership will accelerate Definely's expansion plans, particularly in enhancing its US footprint and penetrating new industry sectors, aligning perfectly with the company's current momentum and future goals.

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Nnamdi Emelifeonwu, CEO and Co-Founder of Definely, expressed enthusiasm about the partnership: "Bringing Raine Ventures onto our cap table, as a US-based investment firm with a strong track record and network, allows Definely to double down on its early success in the US market and capitalise on the US opportunity at a pivotal stage in our growth. We are excited for what the future holds as the relationship continues to grow."

Gordon Rubenstein, Managing Partner of Raine Ventures, highlighted the strategic rationale behind the investment: "Definely presents a compelling investment opportunity due to its innovative AI-driven tools that enhance efficiency, accuracy, and productivity during the pre-execution stage of the contract lifecycle. The company is solving a critical pain point for lawyers across the legal industry, and we are thrilled to partner with the Definely team and help catalyze this next phase of growth."

The partnership brings significant value beyond capital. The investment will support Definely's ambitious hiring plans and product development initiatives, further enhancing its AI-driven legal tech solutions. It also provides access to Raine's vast network in the US market, offering the potential for new customer relationships and strategic partnerships. This is particularly valuable as Definely looks to expand its presence in key US legal and financial hubs.

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About Definely 

Launched in 2020, Definely is a LegalTech company that makes it easier for lawyers to read, edit, and understand legal documents. The company offers a subscription-based suite of productivity solutions designed to assist lawyers at the pre-execution stage of the contract lifecycle. Headquartered in London, the company serves a diverse clientele, including elite law firms and Fortune 500 companies such as Dentons, Eversheds, DLA Piper, Deloitte, Ericsson, The Asian Development Bank and Barclays, among others. Definely is currently operational in Europe, North America, Africa, Australia, and Asia. 

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About The Raine Group

The Raine Group is a leading global merchant bank with an integrated focus on both advisory and principal investments in the TMT ecosystem. Founded in 2009, Raine has advised on some of the largest, most impactful, and most innovative transactions across its core sectors and has leveraged that same breadth and depth of intelligence to be an active, strategic value-add growth and venture capital investor. Launched in 2013 as part of The Raine Group, Raine Ventures is a global venture capital platform focused on creating, building, and investing in the next generation of TMT properties. Based in New York, Raine has offices in San Francisco, Los Angeles, London, Paris, Mumbai, Shanghai, Hong Kong and Singapore. For more information, including a complete list of transactions, please visit raine.com

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