Company: Luminance
Founder: Eleanor Lightbody
Website: https://www.luminance.com/
About Luminance
Contracts form the lifeblood of every business. They define the pivotal relationships a business 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.
Luminance was developed to solve these issues. Founded in 2015 by mathematicians and AI experts from the University of Cambridge, Luminance is revolutionising the way organisations of any kind draft, negotiate and analyse their documents, by bringing Legal-Grade™ AI to every single touchpoint an organisation has with its contracts. The technologys extensive data exposure, rigorous finetuning and customer validation form the foundation for its powerful capabilities, facilitating the incredible rate of developments as Luminance continuously adapts to break boundaries and meet new market needs as they arise.
Unmatched Innovation
As the AI market becomes increasingly crowded, Luminance has successfully developed its product offering in order to further transform working practices. The unmatched innovation and series of world-firsts have set Luminance apart as a category-defining sector-leader. Some of Luminance’s latest ground-breaking features include:
Auto Mark-Up – enabling users to bring any agreement into line with a companys gold standards and preferred terms in a click.
Agent Lumi – interface harnessing agentic workflows to take Luminances Legal-Grade™ chatbot from thought to action, automating everyday legal tasks in response to users instructions.
Ask Lumi in the Repository – automated Q&A across an organisations entire contractual landscape, both pre- and post-signature.
Commercial Success
Today, Luminance is used by over 700 organisations in 70+ countries, with recent notable additions including household names such as AMD, DHL, BBC Studios and the LG Group. Luminance has seen significant commercial growth off the back of its constant innovation and product developments, demonstrated by the following results:
75% increase in global Corporate customers in 2024 so far.
335% increase in US Corporate customers since January 2023.
Over 50% increase in company headcount so far this year in order to meet increased demand.
Over 5x ARR growth in the last two years.
Tangible Results
Finally, the impact Luminance is having on the hundreds of organisations using the technology demonstrate its ability to truly transform businesses, regardless of size, location or industry. Today, Luminance is helping companies to:
Save time: Emma Sleep has doubled the quantity of documents reviewed per quarter with Luminances AI.
Streamline processes: Hitachi can now take an NDA from generation to signature in under five minutes.
Assess risk: IDEXX Laboratories used Luminances AI to analyse 20,000 contracts in just 20 minutes to assess the company’s exposure to sanctioned entities. They projected this task would have taken 2 weeks without Luminance.
Reduce spend: UK-based fraud detection company, Featurespace, cut external legal spend by 50% through using Luminance.
Reallocate resources: UK-based technology company, proSapient, achieved 40% time-savings on admin tasks alone, enabling them to redeploy their paralegal to higher value tasks within the first day of use.
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