Luminance

Luminance is a leading provider of artificial intelligence (AI) technology for the legal industry. The company has developed a proprietary Legal Pre-Trained Transformer (LPT), a large language model specifically trained on over 150 million verified legal documents. Luminance's LPT combines generative and analytical AI capabilities, ensuring legal rigor in content generation, analysis, and understanding.

Luminance's core offering is an AI-powered contract management platform that streamlines the entire contract lifecycle, from drafting and negotiation to review and analysis. The platform leverages the LPT to automate tasks such as flagging non-standard clauses, suggesting preferred language, identifying areas of non-compliance, and extracting key terms and obligations.

One of Luminance's standout features is its ability to perform AI-powered contract negotiation. In November 2023, the company demonstrated the world's first fully automated negotiation of a contract between two AI entities, without human intervention. This groundbreaking achievement showcased the potential of AI to transform labor-intensive legal processes.

Luminance's technology has been adopted by over 600 organizations across 70 countries, including global corporations such as Koch Industries, Hitachi, Liberty Mutual, and LG Chem. The company has also achieved integration with major legal industry players, with all four of the "Big Four" consultancy firms and over a quarter of the world's largest law firms utilizing its platform.

In April 2024, Luminance raised USD 40 million in a Series B funding round led by March Capital, with participation from National Grid Partners and Slaughter and May. This investment will support the company's expansion into new markets, particularly strengthening its foothold in the US, where it currently generates over one-third of its revenue.