GRAY has built the financial model for Definely’s $7m Series A fundraise from Octopus Ventures and Cornerstone VC.

Headquartered in London, Definely is a legaltech company created to make legal documents easier to read, edit and understand. Available via subscription, Definely’s suite of productivity solutions assists lawyers at every pre-execution stage of the contract lifecycle, helping its customers draft, proof and understand legal documents quickly.

With over 60 employees located globally, the company is now focused on adding to its existing base of 40,000 active users from the largest companies and law firms in the UK, US, Canada and Australia. As the company advances how it incorporates AI, it will also actively look to expand its highly-experienced technical team.

The company, which in 2023 was named in the top 25 of the prestigious Deloitte UK Technology Fast50, a list of the UK’s fastest-growing tech companies - launched its first product in September 2020 and now serves a global elite of law firms and Fortune 500 companies including Allen & Overy (now A&O Shearman), Slaughter & May, Dentons, Deloitte, P&O Cruises and many more.

GRAY worked with the management team to build a dynamic, scenario-based financial forecast model to demonstrate the key metrics of the business, and the growth potential of its existing and future client base.

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