Temasek Leads Funding Round as Robin AI Expands its Platform Redefining Legal Processes
In a significant stride towards transforming legal processes through artificial intelligence, Robin AI, an AI-powered legal copilot, has successfully raised $26 million in a Series B funding round led by Temasek, a Singapore-based investment company. The legal technology firm, founded in 2019 by Richard Robinson and James Clough, combines generative AI capabilities to automate and streamline contract drafting and negotiation processes, along with extracting valuable information from extensive contract repositories.
Funding and Investors
The Series B funding round saw participation from QuantumLight, Plural, and AFG Partners, with Temasek leading the investment. Plural had previously led the Series A round in February 2023, resulting in a funding injection of $10.5 million for Robin AI.
Robin AI’s platform, accessible as a Microsoft Word add-in, is designed to significantly reduce contract review time by up to 85%. The platform employs a unique hybrid approach, integrating the Claude large language model (LLM) with proprietary contract data extracted from over two million contracts. Machine learning techniques further enhance contract comprehension.
Clientele and Global Reach
Robin AI serves a diverse client base, ranging from multinational corporations like PwC and Pepsico to SMEs and scale-ups. With a global presence, the majority (75%) of its revenue is generated in the US.
Team and Expertise
Founded by a lawyer and a machine learning research scientist, Richard Robinson and James Clough, respectively, Robin AI boasts a team of over 100 full-time employees, including legal professionals and software engineers. Plural partner Carina Namih acknowledges Robin AI’s impact, stating that it delivers AI products to a wide array of customers, transforming how businesses operate.
Future Plans and Utilization of Funds
Robin AI plans to leverage the funding to capitalize on the momentum in the evolving legal tech market. Expansion plans include team growth in the US and the establishment of an office in Singapore, signaling a strategic move into the Asia Pacific region. The funding will also support the augmentation of its existing team of AI and machine learning experts.
Vision for the Legal Sector
Richard Robinson articulates Robin AI’s vision as building an AI platform that deeply understands every aspect of the legal function, from drafting contracts to researching case law. The goal is to level the playing field between large and small law firms, making legal services more accessible.
With the infusion of $26 million in Series B funding, Robin AI is poised to further revolutionize the legal sector, enhancing efficiency and accessibility through its innovative AI-powered legal copilot. The strategic expansion into the Asia Pacific region reflects the company’s commitment to global impact and transformative advancements in legal technology.