Luminance, a London, UK-based developer of a proprietary legal large language model (LLM), raised $40M in funding.
The round was led by March Capital, with participation from National Grid Partners and other existing investors, including Slaughter and May.
The company intends to use the funds to bring the technology to new markets, and strengthen its presence in the United States.
Led by CEO Eleanor Lightbody, Luminance is an powered legaltech startup that brings AI to every touchpoint a company has with its documents, from instantly flagging non-standard clauses in any incoming contract in Microsoft Word and suggesting the preferred language, to automatically identifying areas of non-standard compliance and key terms, obligations and dates in all executed documents or agreements. The systam has been developed by AI experts at the University of Cambridge, UK, validated by lawyers, and used by over 600 clients in 70 countries.
FinSMEs
08/04/2024