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Robin AI Raises $26 million as Legal Sector Embraces AI

Robin AI Raises $26 million as Legal Sector Embraces AI

Source: wallstreet:online

LONDON and NEW YORK, Jan. 2, 2024 /PRNewswire/ -- As demand for generative AI in the legal sector explodes, Robin AI, the AI-powered legal copilot, today announces that it has raised $26 million in new funding. The Series B round is led by Temasek, a global investment company headquartered in Singapore. Other investors include QuantumLight, Plural and AFG Partners.

Robin AI was founded in 2019 by Richard Robinson, a lawyer at Clifford Chance, and James Clough, a machine learning research scientist at Imperial College. It leverages the power of generative AI to automate and speed up the process of drafting and negotiating contracts, as well as extracting information from across entire contract repositories through simple search. 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 ultimately invest their time more strategically.

Robin AI places quality and accuracy at the heart of its approach. Earlier this year, it became one of Anthropic's launch partners for the release of their Large Language Model (LLM), Claude - the only such partner applying this technology to legal work. Claude 2.1 allows much longer prompts than other LLMs (around 150,000 words in each prompt), a key benefit for analysing long and complex legal documents. Anthropic is also dedicated to building frontier AI models that are safe and reliable.

Robin AI operates a unique hybrid model that combines the Claude LLM with its own proprietary contract data (from over 2 million contracts) and machine learning techniques to read and understand contracts. An in-house team of legal professionals, or lawyers-in-the-loop, helps to further refine the model to ensure the highest levels of quality and accuracy. Unlike many other legal AI products that are in beta or hidden behind waiting lists, anyone can try out a free version of the copilot at www.robinai.com.