Funding

[Funding alert] AI-powered Legal copilot Robin AI Secures $26 Million in Series B Round Funding

Jan 3, 2024 | By Startup Rise EU

AI-powered Legal copilot Robin AI Secures $26 Million in Series B Round Funding. With this, the company has raised $43.6 million in funding.
Richard Robinson and JamesClough, co-founders of RobinAI. (from left to right)

AI-powered Legal copilot Robin AI Secures $26 Million in Series B Round Funding. With this, the company has raised $43.6 million in funding.

The Series B round is led by the international investment firm Temasek, which has its headquarters in Singapore. AFG Partners, Plural, and QuantumLight are among the other investors.

Founded in 2019, Robin AI uses generative AI to automate and expedite the contract drafting and negotiation process. It also uses simple search to extract information from entire contract repositories.

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Its legal copilot, a Microsoft Word add-in, can reduce contract review times by up to 85%, freeing up legal teams' time to work more strategically, move more quickly, and save money.

CEO and co-founder Richard Robinson, said: “We’ve seen incredible customer traction with what we believe is the smartest AI contract copilot on the market. But this is just the beginning. 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.”

Carina Namih, Partner at Plural, 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.”

With the help of the funding, Robin AI will be able to grow its staff in the US, where it currently generates three-quarters of its revenue, and open an office in Singapore to reach out to the Asia Pacific region. Also, the investment will support the team's current development of AI and machine learning specialists.

Read also - GLORY to Acquire Flooid

About Robin AI

Leader in legal AI is Robin AI. Hundreds of companies around the world use their AI contract copilot to take advantage of generative AI's legal applications. They enable solicitors and legal teams to streamline contract procedures. They think that the legal system operates in a business-driven environment. Google, Episode 1, Plural, and Forward Partners support us.

Read also - London-based Labrys Technologies Secures $5.5M in Seed Funding

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