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Economic Times

Economic Times

| 15d

AI company Luminance raises $40 million as contracts tech investment booms

Legal technology company Luminance has secured $40 million in a funding round led by March Capital. Luminance offers software that automates contract processes for legal teams, using artificial intelligence (AI) technology to create, negotiate, and analyze legal documents. The company differentiates itself by utilizing its own large language model, which has been exposed to millions of legal contracts. Initially targeting law firms, Luminance expanded its customer base to include corporate clients such as Koch Industries and Hitachi. The funding will be used to support further expansion in the United States.

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