Spellbook, a Toronto, Canada–based legal AI company, has secured $40 million in debt financing.
Investors
The investment was from RBCx, a technology and innovation banking arm of the Royal Bank of Canada. It provides banking, capital, and advisory services to technology startups, scaleups, and venture capital firms. RBCx uses its deep expertise to support businesses at all sizes and stages, leveraging RBC’s extensive experience, networks, and capital to help solve tomorrow’s biggest challenges.
Spellbook Use of Funds
The debt financing will be used to pursue strategic acquisitions and expand its legal AI capabilities as the company scales its market-leading platform.
About Spellbook
Spellbook is a legal AI platform designed to assist lawyers with drafting, reviewing, and negotiating contracts using generative AI. Launched in 2022, the company introduced generative AI copilots for legal professionals, helping law firms and in-house legal teams streamline contract workflows and reduce manual legal work. The platform leverages advanced large language models and legal-specific data approaches to deliver precise contract analysis and negotiation insights. Spellbook serves nearly 4,000 legal teams across 80 countries, including organizations such as Nestlé, eBay, and Kennedys.
Funding Details
Company: Spellbook
Raised: $40.0M
Round: Debt Financing
Funding Date: March 2026
Investor: RBCx
Company Website: https://www.spellbook.legal/
Software Category: Legal AI / Contract Automation Software
Source: https://www.businesswire.com/news/home/20260304571140/en/