Source: UK Tech News
Luminance, which this year raised over £30m in a Series B round led by US investor March Capital, has developed a large language model (LLM) to automate legal tasks including contract generation, negotiation and analysis.
Luminance products include a legal chatbot, a “Self-Serve” tool for non-legal firms to review third-party contracts and “Auto Mark-Up”, which is used to quickly reshape agreements to be in line with company standards.
According to Luminance, just over a third of its revenue comes from the US, including from major American clients such as AMD and fast food chain Panda Express.
“Our recent financing is a testament to the strength of our technology, which is defining a new category of legal-grade AI,” said Luminance CEO Eleanor Lightbody.
Lightbody said the company had “organically captured market share in the US” and so was “doubling down” with locations in Dallas and New York as “just the first steps of our US expansion”.
Read the full article: https://www.uktech.news/legal/luminance-dallas-us-growth-20240923
