Luminance, a leader in legal artificial intelligence, has successfully raised $75 million in a Series C funding round. This latest investment brings the company’s total funding over the past year to more than $115 million. The oversubscribed round was led by Point72 Private Investments, with participation from Forestay Capital, RPS Ventures, and Schroders Capital, along with existing investors such as March Capital, National Grid Partners, and Slaughter and May.

Expanding AI-Powered Legal Solutions

Founded by AI experts from the University of Cambridge, Luminance has developed proprietary technology known as the “Panel of Judges” to enhance contract management processes. This specialized AI enables businesses to automate contract generation, negotiation, and post-execution analysis. Currently, Luminance serves over 700 organizations across 70 countries, counting major global enterprises like AMD, Hitachi, LG Chem, SiriusXM, Rolls-Royce, and Lamborghini among its clients.

Rapid Growth in the Legal AI Market

The demand for AI-driven legal solutions has surged, fueling Luminance’s rapid expansion. In the last two years, the company has increased its customer base by five times and grown its annual recurring revenue sixfold. To support this rising demand, Luminance expanded its workforce by 80% in 2024, including tripling its North American headcount and opening new offices in San Francisco, Dallas, and Toronto, while also expanding its U.S. headquarters in New York.

Pioneering New AI Capabilities

Luminance has been at the forefront of AI innovation, launching a series of industry-first solutions. Its latest product, Lumi Go, introduces an AI-powered contract negotiation tool that allows customers to send draft agreements to counterparties and have the AI autonomously negotiate terms. This technology aims to revolutionize enterprise contracting, making legal processes faster and more efficient.

Strategic Vision and Investor Confidence

Eleanor Lightbody, CEO of Luminance, emphasized that the new funding will drive innovation and expansion efforts. She highlighted plans to strengthen the company’s U.S. presence—where it already generates 40% of its revenue—while also establishing new offices across APAC and Europe. Additionally, the investment will accelerate AI development at Luminance’s Cambridge research hub, extending its applications into procurement and compliance.

Investor Perspectives on Market Potential

Sri Chandrasekar, Managing Partner at Point72 Private Investments, underscored Luminance’s potential to reshape enterprise contracting through AI. He noted that the company’s cutting-edge technology has already gained traction with some of the world’s largest corporations, positioning it as a market leader. Hyun Koo, Partner at March Capital and Luminance board member, echoed this sentiment, citing the company’s growing list of major clients, including DHL and AMD, as proof of its fast adoption and strong return on investment.

Legal Industry Support and Future Outlook

Sally Wokes, Partner at Slaughter and May, reaffirmed the firm’s ongoing collaboration with Luminance. She emphasized the increasing demand for legal AI solutions and expressed confidence in Luminance’s ability to lead the sector. As the legal technology market continues to evolve, Luminance remains committed to pioneering advancements that drive efficiency and innovation in contract management.

With its latest funding round, Luminance is poised for significant growth and continued technological breakthroughs. By expanding its AI capabilities and global footprint, the company aims to redefine how businesses manage contracts across industries. As investor confidence remains strong, Luminance is set to further solidify its position as a leader in legal AI solutions.