Keith Rabois Bets on Legal AI Tech With Startup Spellbook

Artificial intelligence startup Spellbook raised $50 million in a funding round led by Khosla Ventures managing partner Keith Rabois — making the firm the latest venture player to bankroll AI companies tackling the legal industry.

Valued at $350 million, the Toronto-based startup helps speed the writing of contracts. It’s part of a rush of AI firms, including Harvey and Eve, betting that AI technology will remake the way law firms do business. Threshold Ventures, existing investor Inovia Capital and others participated in the funding round alongside Khosla.