Luminance Secures $75M Series C Funding Round

UK-based legal tech startup Luminance has successfully raised $75 million in a Series C funding round led by Point72 Private Investments, marking a significant investment in legal AI in the UK and Europe. This funding will allow Luminance to enhance its AI-driven legal solutions, which help law firms with contract drafting, review, and management, leveraging a proprietary model trained on over 150 million legal documents. The company has now raised a total of $165 million since its inception and aims to expand its presence in the U.S. market, where demand for legal tech solutions is growing. Luminance's technology is already in use by over 700 clients, including major firms and corporations like Koch Industries and Rolls-Royce. This investment follows a trend in the legal tech sector, with other startups like Eudia and Harvey also securing substantial funding recently. The company was initially supported by the late Dr. Mike Lynch, founder of Autonomy, adding a notable legacy to its development.