Legal technology company Robin AI has secured $26 million in Series B funding, bringing the total funding for the company to $43.6 million. Founded in 2019, Robin AI utilizes generative AI to automate and accelerate the process of drafting, negotiating contracts, and extracting information from entire contract repositories through simple searches.
Robin AI’s legal copilot, available as a Microsoft Word add-in, can significantly reduce the time required to review contracts by up to 85%, empowering legal teams to operate more efficiently, save costs, and allocate their time strategically. The company’s AI platform, known for being one of Anthropic’s launch partners for their Large Language Model (LLM) Claude, aims to understand various aspects of the legal function, including drafting contracts, researching case law, and explaining legal concepts.
Anthropic’s Claude 2.1, employed by Robin AI, allows longer prompts than other LLMs, approximately 150,000 words in each prompt, making it particularly beneficial for analyzing lengthy and complex legal documents. Robin AI’s clientele includes well-known companies such as Pepsico, PwC, Yum! Brands, AlbaCore Capital Group, and BlueEarth Capital.
Richard Robinson, CEO and co-founder of Robin AI, expressed excitement about the customer traction and emphasized the company’s broader vision of building an AI platform for the legal sector. This platform aims to comprehend every aspect of the legal function, from drafting contracts to researching case law and explaining legal concepts, ultimately assisting individuals in handling various legal tasks.
Temasek, a global investment company headquartered in Singapore, led the Series B round. Other investors include QuantumLight, Plural, and AFG Partners. The funding will enable Robin AI to expand its team in the United States, where the majority of its revenue is generated, and establish an office in Singapore to facilitate expansion into the Asia Pacific region. Additionally, the investment will contribute to the development of the company’s existing team of AI and machine learning experts.
