Company: Luminance
Founders: Graham Sills & Adam Guthrie
Website: https://www.luminance.com/
About Luminance
Luminance is the pioneer in Legal-Grade™ AI. Developed by AI experts from Cambridge University, Luminances proprietary AI has been purpose-built for legal specific application, using a mixture of experts approach to automate and augment every touchpoint a business has with its contracts, from generation and negotiation to post-signature analysis and workflow automation.
Contracts form the heart of every business. They define the pivotal relationships an organisation has with its customers, employees and suppliers. Yet traditional contract work is repetitive, manual, time-consuming, expensive, and prone to error. All the while, legal teams are feeling the pressure of enormous workloads, growing efficiency demands and an increasingly complex regulatory landscape to navigate. Luminance was developed to help.
In 2024, Luminance secured a $40 million Series B funding round, followed by a $75 million Series C round less than 12 months later, bringing total funding to over $115M in under a year. From a combination of new and repeat investors and early customers, this demonstrates incredible confidence in Luminances vision, leading position and the market need. Moreover, this funding has been used to sustain Luminances position at the forefront of innovation, with world-first AI developments released at an unprecedented rate. Recent highlights include:
– Auto Mark-Up: Aligns any contract with company standards in a single click.
– Agent Lumi: Combines Luminances legal-specific AI with agentic AI to create an autonomous agent, enhancing enterprise automation with decision-making capabilities.
– Lumi Go: Provides real-time, AI-powered feedback to Luminance customers and counterparties in negotiations, accelerating time to signature.
These brand-new features represent a more efficient future for legal activity. From a business perspective, Luminance enables the exponential acceleration of contract processes – an undeniable gamechanger for companies racing to close business. From Legals perspective, Luminance dramatically reduces the time spent on tedious tasks, such as reviewing standardised contracts or comparing contracts clause-by-clause to spot subtle differences in wording. This offers a solution to the expanding volumes of legal data in need of review and the increasing rates of burnout across the legal profession.
Luminance has seen incredible commercial success off the back of this unmatched innovation, including 6x Corporate ARR growth and 5x Corporate customer growth in the past two years, with new additions including major, world-renowned organisations such as DHL, Panda Express, BBC Studios & AMD.
The results achieved by customers further demonstrate Luminances success:
• Hitachi: Save 500+ hours per year on contract generation alone.
• Yokogawa: Response time to business queries cut from 7 days to 10 minutes.
• Emma Sleep: 100% increase in number of contracts reviewed per quarter.
• NTT: 85-page MSA reviewed in 5 minutes.
Luminances AI has been used in multiple world-firsts. In a live demonstration to the BBC, Luminance became the first AI to completely automate a contract negotiation between two parties, without human intervention. Luminance was also the first use of AI at the Old Bailey, where it allowed counsel to cut time spent reviewing evidence by four weeks and save £50,000. These breakthroughs highlight Luminances unparalleled innovation and technical capabilities.
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