February 27, 2023
Robin AI secures $10.5m in Series A funding to scale its contract platform. With the latest generative models integrated, Robin AI makes legal tasks simple.
February 27, 2023
We are proud to announce that we have secured $10.5m in our Series A funding round. This capital will be used to accelerate and scale our mission to change the way the legal industry works by using the latest in AI and generative models combined with ‘lawyers-in-the-loop’ to make simple tasks easier, reduce legal costs and provide widespread access to legal services.
This round is led by Plural, with participation from Episode 1 and a cohort of angel investors including Tom Blomfield and senior executives across the legal and private equity industries from Bridgepoint, Apollo, and Barings.
Our CEO and founder Richard Robinson, noted “We have grown revenue 20x since our last fundraise and are already cash flow positive, reviewing over 12,000 contracts per year. This latest funding round will further develop our tech team and has enabled us to acquire a cohort of customers from LawGeex, whose customers include UBS, PWC, eBay and Pepsi. We are adding a set of these customers to our existing base of private equity and financial services clients.”
We have grown revenue 20x since our last fundraise and are already cash flow positive, reviewing over 12,000 contracts per year. This latest funding round will further develop our tech team and has enabled us to acquire a cohort of customers from competitor LawGeex.
There’s no doubt that AI is exploding. New technologies that push the boundaries of what is possible always bring questions of both safety and commercial viability. We believe that AI is bringing about an infrastructure-level change to modern software and our rapid traction in the legal market is a testament to its potential.
Our machine learning model is trained on proprietary data from 4.5 million legal documents, enabling users to draft and negotiate contracts 60-80% faster, saving up to 75% on legal fees. These savings are enabled by our unique “SaaS + services” business model, which combines a ‘lawyer-in-the-loop’ with the latest machine learning technology and the integration of the latest models from Anthropic.
We are making our self-serve product publicly available, enabling individuals, startups, and beyond to process legal contracts at little to no cost. Anyone can sign up for Review and get free access now.
“We are very fortunate to be Anthropic’s launch partner for the legal sector - the team’s focus on AI safety aligns with our ‘lawyer-in-the-loop’ SaaS product - deliberately designed to manage the risk of even the most advanced models 'hallucinating'. We're using the best models in the world in our product, but we still need experienced human professionals to direct the software to achieve results that work for our customers. Our product is already being used in big businesses where trust and accuracy are critical. We’re convinced our business model, using machine learning to help humans work faster, is the model that wins in this space" says Richard.
Our product is already being used in big businesses where trust and accuracy are critical. We’re convinced our business model, using machine learning to help humans work faster, is the model that wins in this space.
Robin AI serves a diverse range of customers from large multinational corporations to SMEs and scale-ups. For example, our free self-serve software helps SMEs process contracts faster and at significantly lower cost - and bigger businesses can make use of more advanced features to edit high volume contracts efficiently, alongside specialist support from our 30 in-house lawyers.
Founded in 2019 by Richard Robinson, a former lawyer at Clifford Chance, and James Clough, a former machine learning research scientist at KCL and Imperial College, Robin AI has a team of 75 full-time employees, including legal professionals and software engineers. The Robin AI team is based in London, UK, but operates globally, with 75% of its revenue derived from the US.