The legal technology company has developed a platform that automates and expedites the drafting and negotiation of contracts while extracting information from entire contract repositories through straightforward searches
Richard Robinson, one of the co-founders of Robin AI. (Credit: Robin AI)
Robin AI, an artificial intelligence (AI) powered legal copilot, has secured $26m in a Series B funding round led by Singapore-based investment company Temasek.
QuantumLight, Plural, and AFG Partners are the other investors who took part in the financing round. Plural led the Series A round of Robin AI in February 2023 in which the latter raised $10.5m.
Founded in 2019 by Richard Robinson, a lawyer at Clifford Chance, and James Clough, a machine learning research scientist at Imperial College, Robin AI harnesses the capabilities of generative AI.
The company’s platform automates and expedites the drafting and negotiation of contracts while extracting information from entire contract repositories through straightforward searches.
Its legal copilot, accessible as a Microsoft Word add-in, is said to have the potential to reduce contract review time by 85%. This enables legal teams in businesses to operate more swiftly, save costs, and allocate their time more strategically.
Robin AI is said to employ a distinctive hybrid approach that integrates the Claude large language model (LLM) with its proprietary contract data extracted from over two million contracts, along with machine learning techniques for contract comprehension.
The legal technology company caters to a varied clientele, ranging from large multinational corporations to SMEs and scale-ups. Its customers include PwC, Pepsico, AlbaCore Capital Group, Yum! Brands, and BlueEarth Capital.
While its team is centred in London and New York, its operations have a global reach. The majority, 75%, of its revenue originates from the US.
The company has a workforce of over 100 full-time employees, comprising legal professionals and software engineers.
Plural partner Carina Namih said: “Everyone is wondering how AI lands usefully. Robin is delivering AI products to an astonishing volume and range of customers – serious businesses across sectors that are using it today to transform how they work.
“And they’ve only scratched the surface. I have backed this team since inception and couldn’t be more bullish about their ability to win the global legal market.”
Robin AI said that the latest funding will empower it to leverage the robust momentum observed in a rapidly evolving market. This encompasses team expansion in the US and the establishment of an office in Singapore to extend its presence into the Asia Pacific region.
Additionally, the funding will support the growth of its current team of AI and machine learning experts.
Robinson said: “We are building the AI platform for the legal sector – a service that deeply understands every aspect of the legal function, from drafting contracts, researching case law to explaining legal concepts – our AI will help people tackle every legal task.
“This will help level the playing field between big and small law firms and help more people access legal services. This investment will help us to realise this vision.”