UK-based legal high-tech startup Luminance has secured $75 million in the Series C funding round, marking one of its biggest investments in professional legal AI companies in the UK and Europe. The round was led by private investment in Point 72 and was supported by Forestay Capital, RPS Ventures and Schroders Capital. Existing supporters such as March Capital, National Grid Partners and Law Firm Slaughter also participated.
The round has raised over $115 million in brightness over the past year, and an overall $165 million. The company was initially supported by the late Dr. Mike Lynch, founder of the Autonomous Government who died in a tragic accident last year.
Fresh funding comes less than a year after the company’s last pay raise. Luminance will use capital to improve its tools, strengthen its marketing and sales efforts, and strengthen its presence in the US, which is seeing an increasing demand for AI-driven legal solutions.
Legal Technology has been a hotspot for fundraising recently. Last week, Eudia raised $105 million. London-based Genie AI secured 16 million euros last year. US-based Harvey landed $300 million in a sequoia-led round. And Lawhive has closed a $40 million round to help US lawyers focused on daily legal work.
Founded in 2015 by Cambridge scholars Adam Guthrie and Dr. Graham Sills, Luminance uses generator AI to help law firms draft, review and manage contracts. The company’s proprietary legal pre-training transformer (LPT) model is designed specifically for legal work, unlike the more commonly used GPT models. It has been trained on over 150 million verified legal documents, many of which are not publicly available, giving brightness a competitive edge.
“It’s a specialized AI built for lawyers,” said CEO Eleanor Lightbody, who stepped into the role after the Series A round. “Attorneys need to know that the outcome is reliable, and AI provides that trust.”
Luminance’s software can automatically check contracts, flag issues and even negotiate contracts through its flagship product, Lumi Go. The company says more than 700 organizations, including leading global companies such as Big Four Consulting Firms, Koch Industries, Hitachi, Liberty Mutual and Avianca Airlines, use the tool in more than 70 countries.
The growing ability of AI to analyze dense legal languages is increasingly for startups like legal engineers to help law firms handle regular tasks more efficiently It promoted startups like startups that would become adopting specialized models. The company hopes that AI will release lawyers to focus on more strategic, higher-level work, reducing the time and costs associated with traditional legal processes.
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