The company has experienced remarkable growth, reporting a sixfold increase in annual recurring revenue (ARR) and a fivefold rise in customer numbers over the past two years.

CEO Eleanor Lightbody emphasizes the importance of trust and validation in the outputs of their AI, asserting that Luminance's domain-specialized AI is both reliable and accurate.

With this latest funding, Luminance's total capital raised has reached $165 million, following a $40 million Series B round less than a year ago.

The company is expanding its AI platform to include legal-adjacent applications in procurement and compliance, aiming to develop AI agents capable of performing tasks autonomously.

Lightbody noted that the recent funding will bolster innovation and support significant growth in the U.S. market, where 40% of Luminance's revenue is generated.

To meet increasing global demand, Luminance expanded its workforce by 80% in 2024, particularly enhancing its presence in North America with new offices in San Francisco, Dallas, and Toronto.

Point72's managing partner, Sri Chandrasekar, expressed confidence in Luminance's potential to revolutionize enterprise contracting processes through its advanced AI technology.

Founded by AI specialists from the University of Cambridge, Luminance employs a unique AI technology known as the 'Panel of Judges' to automate various business contract processes.

Luminance, a legal AI startup, has successfully raised $75 million in a Series C funding round led by Point72 Private Investments, marking a significant milestone in the legal AI sector in the UK and Europe.

Luminance serves over 700 clients across more than 70 countries, including major corporations like AMD, Hitachi, and Rolls-Royce, and is focused on automating contract generation and negotiation for legal departments.

The funding round was oversubscribed, attracting contributions from notable investors including Forestay Capital, RPS Ventures, and Schroders Capital, alongside existing supporters like March Capital and National Grid Partners.

Luminance's early investment came from the late Dr. Mike Lynch, a prominent figure in tech, who was instrumental in the company's inception.