Scotland’s Wordsmith AI Achieves $100M Valuation in Just 18 Months

The legal tech company Wordsmith AI, based in Edinburgh, has reached a valuation exceeding $100 million within just 18 months of its inception, a milestone it claims to be a record for the region.

Founded in 2023 by Ross McNairn, a lawyer turned software engineer, Wordsmith AI has quickly amassed a diverse client base that includes notable names like Trustpilot, Deliveroo, and Multiverse. The company’s impressive valuation was secured following a $25 million investment round led by the prominent venture capital firm Index Ventures.

McNairn, age 38, remarked, “While we are proud to be the fastest Scottish startup to surpass a $100 million valuation, what truly matters is our ability to scale a technology company from Scotland, which will contribute to the development of an AI ecosystem here.”

McNairn described Wordsmith’s software as functioning like an “air traffic control” system for internal legal teams. It enables these teams to address inquiries and resolve issues with the assistance of trained AI bots. “For the first time, AI infrastructure can be integrated across organizations, utilizing fleets of agents that can be trained to support every corporate function — thereby shortening deal cycles, answering questions, and managing complex workflows,” he explained.

A graduate of Skyscanner, the acclaimed travel search app valued at £1.4 billion upon its acquisition by a Chinese company in 2016, McNairn is among a number of former Skyscanner employees who have launched their startups.

Later this year, Wordsmith plans to expand its presence by opening offices in London and New York. Co-founded by McNairn, Volodymyr Giginiak, and Robbie Falkenthal, the company aims to redefine the legal profession by facilitating a shift in which lawyers transition from handling inquiries directly to overseeing AI assistants.

“We are witnessing the emergence of a new role within the legal field: the legal engineer,” McNairn stated. “These individuals will be responsible for training, deploying, and managing fleets of AI agents, allowing us to reskill a new generation in this area.”

Scottish Enterprise, the nation’s economic development agency, has also invested alongside Index Ventures.

Initially qualified as a lawyer, McNairn transitioned to software development after reaching out to Gareth Williams, co-founder and former CEO of Skyscanner, who encouraged him to pursue coding. Eventually, McNairn became the head of product at Skyscanner.

Williams, an investor in Wordsmith AI, referred to the company as “one of the most promising startups in Edinburgh currently.” He recalled, “I agreed to meet with Ross based solely on the intelligence and creativity evident in his email. There’s a supportive culture in Scotland that fosters startup involvement, whether it’s one’s own ventures or those of others.”

After parting ways with Skyscanner in 2017, McNairn maintained contact with Williams and approached him again when launching Wordsmith AI.

“He detailed how modern AI could significantly benefit lawyers and their clients,” Williams noted. “What appealed to me about his vision was its focus on delivering substantial value to both companies and lawyers. The most innovative tech businesses are those that create compelling new value rather than merely automating existing tasks.”