Luminance—a London-based global leader in “legal AI”—is opening a Dallas office, expanding its U.S. footprint following a $40 million Series B funding round.
Aiming to meet “increasing U.S. demand,” the move comes on the heels of a recent expansion of Luminance’s New York headquarters and “key hires” across North America, including in San Francisco and Canada.
The company was founded in 2015 by mathematicians from the University of Cambridge, who developed what they dubbed the Legal Inference Transformation Engine (LITE), using machine learning and pattern recognition to read and understand legal documents in any language.
Recently snagging a position on the Inc. 5000 list of America’s fastest growing private companies, Luminance reports achieving over 5x ARR growth in the past two years, and says it has seen a 225% increase in the adoption of its flagship product, Luminance Corporate, by U.S. customers since January 2023. The company reportedly generates over one-third of its revenue in the U.S.
With a customer base of 700-plus organizations in over 70 countries, the Luminance client list includes tech giants AMD and Hitachi, the food and beverage businesses AB InBev and Panda Express, pharmaceutical giant LG Chem, and global manufacturers Koch Industries and Yokogawa.
‘Doubling down in Dallas’
The company’s Series B round was led by Santa Monica venture firm March Capital, with participation by National Grid Partners, GTM Capital, and other existing investors, including the law firm Slaughter and May.
“Our recent financing is a testament to the strength of our technology, which is defining a new category of Legal-Grade AI,” Luminance CEO Eleanor Lightbody said in a statement. “To date, Luminance has organically captured market share in the U.S. Now, we’re doubling down in Dallas and New York as just the first steps of our U.S. expansion, enabling us to better serve existing customers and bring our specialized, proprietary AI to more organizations worldwide.”
Luminance says its “legal co-pilot” brings next-gen AI to “every touchpoint a business has with its documents,” from contract generation to negotiation and post-execution analysis.
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