Spellbook

Spellbook is a Canadian legal artificial intelligence company headquartered in Toronto and founded in 2018 in St. John's, Newfoundland by Scott Stevenson and Daniel Di Maria. It is privately held and venture-backed, having raised more than 80 million US dollars across rounds led by Inovia Capital and Khosla Ventures, and it is still run by its co-founding chief executive.

The company's first product, Rally, automated contract workflows for startups; after experimenting with large language models the founders shipped a Microsoft Word add-in for contract drafting, which grew quickly enough that the business took the product's name in 2023. Spellbook closed a 20 million US dollar Series A in 2024, a 50 million US dollar Series B led by Khosla Ventures in October 2025, and a 40 million US dollar debt facility from RBCx in 2026 earmarked partly for acquiring smaller legal AI competitors.

Spellbook at a glance:

• Founded: Founded in 2018 in St. John's, Newfoundland by Scott Stevenson and Daniel Di Maria under the name Rally, and renamed Spellbook in 2023.
• Headquarters: Headquartered in Toronto, Ontario, Canada, with the large majority of its staff based in Canada and customers in more than 80 countries.
• Ownership: Privately held and venture-backed, with a Series B led by Khosla Ventures alongside Inovia Capital, Thomson Reuters Ventures and Bling Capital.
• Legal Technology Portfolio: Sells a single flagship platform, Spellbook, covering AI contract drafting, review, playbooks and agentic contract management workflows.
• Market Focus: Serves in-house legal teams and small to mid-sized transactional law firms internationally, with strength in North America and technology sector clients.

What legal teams should know: Spellbook is a fast-growing venture-backed vendor rather than an entrenched incumbent, so buyers should weigh rapid product change against its low-friction deployment inside Microsoft Word. Its scope is narrower than full contract lifecycle management suites, and a stated plan to acquire smaller competitors means the portfolio will keep expanding.