Robin AI, a London, UK-based provider of an AI-powered legal copilot, raised $26M in Series B funding.
The round was led by Temasek. Other investors included QuantumLight, Plural and AFG Partners.
The company intends to use the funds to expand its team on the ground in the US where three quarters of its revenue is already derived from; open an office in Singapore to expand into Asia Pacific, and extend its existing team of AI and machine learning experts.
Founded in 2019 by Richard Robinson and James Clough, Robin AI leverages generative AI to automate and speed up the process of drafting and negotiating contracts, as well as extracting information from across entire contract repositories through simple search. Its legal copilot, available as a Microsoft Word add-in, can cut the time it takes to review contracts by 85%, allowing businesses’ legal teams to move faster, save money and invest their time more strategically.
Earlier this year, the company became one of Anthropic’s launch partners for the release of their Large Language Model (LLM), Claude. Robin AI operates a hybrid model that combines the Claude LLM with its own proprietary contract data (from over 2 million contracts) and machine learning techniques to read and understand contracts. An in-house team of legal professionals, or lawyers-in-the-loop, helps to further refine the model to ensure the highest levels of quality and accuracy.
The company serves a diverse range of customers from large multinational corporations to SMEs and scaleups.
FinSMEs
03/01/2024