Black-owned startup Robin AI has raised $26 million in new funding for its next growth and global expansion phase.
RobinAI
The AI-driven contract editor is the brainchild of former Clifford Chance lawyer Richard Robinson and former machine learning research scientist James Clough.
Founded in 2019, Robin AI uses generative AI to automate and speed up the process of drafting and negotiating contracts and extracting information from across entire contract repositories through simple search.
The startup trained its machine learning model on data from 4.5 million legal documents with input from in-house lawyers to create a “lawyer bot” that can draft and edit legal contracts.
Its legal copilot, available as a Microsoft Word add-in, can cut the time it takes to review contracts by 85%, allowing businesses’ legal teams to move faster, save money, and invest their time more strategically.
In February of 2023, Robin AI secured $10.5 million in a funding round led by Plural.
It has also become one of Anthropic’s launch partners for releasing its large language models (LLM), Claude.
According to RobinAI, they have seen significant traction for its contract copilot, with customers increasing by 4x in the past year and revenues increasing by 5x.
“This is just the beginning. We are building the AI platform for the legal sector […]. Our AI will help people tackle every legal task,” said CEO Robinson.
Robinson envisions a service that deeply understands every aspect of the legal function, from researching case law to explaining legal concepts.
$26M In Funding
The company announced its funding round, which Singapore’s Temasek Holdings, a global investment company headquartered in Singapore, led.
Other investors included Quantum Light, Plural Platform again, and AFG Partners.
“We are tremendously grateful to all our customers, dedicated investors, and wonderful friends who have supported us wholeheartedly,” Robin AI wrote on LinkedIn.
The funding will allow Robin AI to capitalize on its strong momentum in a fast-moving market.
This will include expanding its team on the ground in the US and opening an office in Singapore to expand into Asia Pacific.
The investment will also expand its existing AI and machine learning experts team.
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