Luminance has raised $75 million in an oversubscribed funding round led by Point72 Private Investments, with support from Forestay Capital, RPS Ventures, Schroders Capital, and existing investors like March Capital, National Grid Partners, and Slaughter and May.
AI-Driven Revolution in Contract Management:
Luminance, developed by AI experts from the University of Cambridge, uses its AI-driven “Panel of Judges” to automate and enhance every stage of a business’s contract lifecycle, from creation to negotiation and post-execution analysis. The company serves over 700 organizations across 70+ countries, including high-profile clients like AMD, Hitachi, LG Chem, SiriusXM, Rolls-Royce, and Lamborghini.
The demand for legal AI has surged, with Luminance’s core corporate product seeing five times the number of customers and a sixfold increase in ARR over the past two years. To keep up with this growth, Luminance expanded its team by 80% in 2024, particularly in North America, where the company tripled its workforce and opened offices in San Francisco, Dallas, and Toronto.
Innovating the Future of Contract Negotiation:
Luminance is also leading the way in legal AI innovation. The launch of Lumi Go, an AI-powered tool for contract negotiation, allows customers to send draft agreements to counterparties and lets the AI handle negotiations automatically.
Eleanor Lightbody, CEO of Luminance, shared:
“This funding will drive innovation, expansion, and scaling, particularly in the US, where 40% of our revenue already comes from. It will also boost our R&D in Cambridge and accelerate the development of our AI platform for legal, procurement, and compliance use cases.”
Sri Chandrasekar, Managing Partner of Point72 Private Investments, said:
“We are excited to support Luminance as it continues to build a specialized AI platform that is already transforming how the world’s largest enterprises handle contracting.”
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