On April 2, 2024, the AI legal assistant startup headquartered in London, UK, Luminance announced it has raised $40 million in Series B funding, led by March Capital, with participation from National Grid Partners and existing investor Slaughter and May.
Luminance was founded in September 2015 and develops machine learning models to help lawyers automate contract review and shorten the time required to sign contracts. Last year, the company launched an AI tool capable of fully autonomously negotiating contracts without any human involvement. The company's clients include Koch Industries, Hitachi, Yokogawa Electric Corporation, Liberty Mutual, LG Chem, and BBC Studios, among others.
(Source:CNBC）