February 18, 2025:
Luminance Secures $75M for AI Contract Tools - British legaltech startup Luminance has raised $75 million in a Series C round led by Point72 Investments. Founded in 2015, Luminance uses AI to automate contract preparation and negotiation. Their flagship product, Lumi Go, integrates with Microsoft Word, helping with real-time contract edits through an AI-powered chatbot.
The company supports over 700 organizations in 70 countries and has rapidly grown by expanding its team to 250 and increasing its presence in North America. This funding occurs amid a surge in investments in legal AI startups, indicating strong market demand for AI-driven legal solutions.
