Tom Blomfield backs startup bringing generative AI to legal sector
Robin AI, a startup bringing generative AI to the legal sector, has secured $10.5m (£8.8m) in a Series A funding round.
Riding the wave of generative AI investments spurred by the excitement around tools like ChatGPT, Robin has secured backing from lead investor Plural.
It also attracted capital from fellow investors Episode 1, and an angel cohort that included Monzo founder Tom Blomfield.
Founded in 2019, Robin AI uses a machine-learning model to scour 4.5 million legal documents to suggest drafts and edits for contracts. The company says its technology reduces the time it takes to review contracts by up to 80%.
“This latest funding round will further develop our tech team and has enabled us to acquire a cohort of customers from LawGeex, whose customers include UBS, PWC, eBay and Pepsi,” said Robin AI founder and CEO Richard Robinson.
“We’re using the best models in the world in our product, but we still need experienced human professionals to direct the software to achieve results that work for our customers.
“Our product is already being used in big businesses where trust and accuracy are critical. We’re convinced our business model, using machine learning to help humans work faster, is the model that wins in this space.”
The London-based company has partnered with Anthropic, an American company founded by former members of Open AI, the company behind generative AI programmes ChatGPT and DALL-E.
Anthropic has provided a large language model for Robin to deploy generative AI into the legal sector.
“We are very fortunate to be Anthropic’s launch partner for the legal sector – the team’s focus on AI safety aligns with our ‘lawyer-in-the-loop’ SaaS product – deliberately designed to manage the risk of even the most advanced models ‘hallucinating’,” added Robinson.
The Series A funding round follows a £1.75m investment into Robin back in July 2021.