At a Glance
| Detail | Covenant | Spellbook |
|---|---|---|
| Category | GenAI & Drafting | GenAI & Drafting |
| Total raised | $4M | $81.5M |
| Rounds tracked | 1 | 4 |
| Latest round | Seed, $4M · Jul 2025 | Series B, $50M · Oct 2025 |
| Last valuation | Not disclosed | $350M |
| Lead investors | Flybridge Capital Partners | Khosla Ventures, Inovia Capital, Moxxie Ventures |
| Built for | Not disclosed | Mid-size firms, Boutiques |
| Headquarters | United States | Canada |
Funding, Side by Side
Covenant rounds
- Jul 2025Seed$4M
Spellbook rounds
- Oct 2025Series B$50M
- Jan 2024Series A$20M
- May 2023Undisclosed$10.9M
- Dec 2019Pre-Seed$567K
Our Take
We have not tested these two head to head yet. The numbers above come from public funding announcements. If you use either one, tell us what you found and it may become a Field Note.
Quick Answers
- Which has raised more, Covenant or Spellbook?
- Spellbook has raised $81.5M in disclosed funding, compared with $4M for Covenant.
- Do Covenant and Spellbook share investors?
- No. None of the investors we track have backed both companies.
- What is Covenant best for?
- AI legal review tools for private-market investors (LPA review, side letters, NDAs, MFN elections).
- What is Spellbook best for?
- Spellbook is an AI contract review and drafting tool for transactional lawyers that works inside Microsoft Word.
Source: Legal Tech Circle funding data, from public announcements. Updated November 11, 2026.