Robin AI secures 26 million US dollars in Series B
Marc Nemitz
| 04.01.2024
Robin AI secures $26 million to drive expansion in the US & Asia-Pacific region. Demand for their AI in the legal sector is growing rapidly.
London - The demand for generative AI in the legal sector is growing rapidly. Robin AI, the AI-powered legal co-pilot, announces that it has received $26 million in new investment. The Series B round is led by Temasek, a global investment firm headquartered in Singapore. Other investors include QuantumLight, Plural and AFG Partners.
We've seen incredible customer engagement with what we believe is the smartest AI contract co-pilot on the market. But this is just the beginning. This investment will help us realize our vision of an AI platform for the legal sector.
Richard Robinson, CEO Robin AI
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 power of generative AI to automate and speed up the process of drafting and negotiating contracts. Their legal co-pilot, available as a Microsoft Word add-in, can cut contract review time by 85%, enabling corporate legal teams to act faster, save money and invest their time more strategically.
Robin AI's platform combines the Claude LLM with proprietary contract data and machine learning, supported by a team of legal professionals. Unlike many other legal AI products that are still in beta or on waiting lists, anyone can try out a free version of the co-pilot at www.robinai.com.
Demand quadruples
Demand for Robin AI's contract co-pilot has quadrupled in the last year, and revenue has increased fivefold. The company has seen particularly strong demand in the private equity sector, where speed is critical to closing deals. Clients include Pepsico, PwC, Yum! Brands, AlbaCore Capital Group and BlueEarth Capital.
The funding will be used to expand the team in the US, as well as open offices in Singapore to expand into the Asia-Pacific region. Robin AI's contract co-pilot was recently launched as a Microsoft Word add-in to help lawyers integrate it into their daily work.
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