Artificial Intelligence: Robin AI Raises $10.5M For Legal Services Powered By Generative AI
Robin AI is bringing the latest in AI and generative models to the legal industry.
Robin AI, a legal tech startup, has announced that it has secured $10.5 million in Series A funding led by Plural with participation by Episode 1 and a cohort of angel investors. Robin AI will use the funding to scale its mission of changing the way the legal industry operates by using AI and generative models with “lawyers-in-the-loop” to cut legal costs and make simple legal tasks even easier. The company offers access to legal services, including a first-in-class AI-driven contract editor, to individuals, startups, and beyond, to process legal contracts at little to no cost.
Robin AI’s machine learning model is trained on proprietary data from 4.5 million legal documents and can draft and negotiate contracts 60-80% faster, saving up to 75% on legal fees. The firm has grown revenue 20x since its last fundraise and is already cash flow positive, reviewing over 12,000 contracts per year. (Robin AI)
The funding round has allowed Robin AI to acquire a cohort of customers from competitor LawGeex, including UBS, PwC, eBay, and Pepsi.
Robin AI has also partnered with Anthropic, whose focus on AI safety aligns with Robin AI’s SaaS product, designed to manage the risk of even the most advanced models “hallucinating.”
Richard Robinson, CEO, and founder of Robin AI, said that the company’s business model, which uses machine learning to help humans work faster, is the model that wins in this space, because it has a lawyer-in-the-loop to ensure AI safety.
Robin AI was founded in 2019 by Robinson, a former lawyer at Clifford Chance, and James Clough, a former machine learning research scientist at KCL and Imperial College.
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