Robin Artificial Intelligence (RobinAI), a company founded in 2019 by Richard Robinson, a lawyer at Clifford Law Firm, and James Clough, a machine learning research scientist at Imperial College London, has received US$26 million in Series B financing, led by Singapore-based global investment company Temasek. RobinAI said the funding will help it maintain and capitalize on the strong momentum it is seeing in this emerging market.
The company has developed a Microsoft Word add-on that uses generative artificial intelligence to automatically speed up the process of drafting and negotiating contracts. It can also leverage search capabilities to extract key information from the contract library.
RobinAI is one of Anthropic's Cloud launch partners. It operates in a hybrid model, combining ClaudeLLM and proprietary contract data to process contracts. RobinAI's in-house team of legal professionals will also fine-tune it to ensure the information is correct.
Commenting on the announcement, CEO Richard Robinson said:
We believe this is the smartest AI contract co-pilot on the market and we're already seeing incredible customer traction. But this is just the beginning.
We are building an AI platform for the legal industry - a service that provides a deep understanding of every aspect of the legal function, from drafting contracts and researching case law to explaining legal concepts - our AI will help people with every legal task.
This will help level the playing field between large and small law firms and help more people access legal services. This investment will help us realize this vision.
Last year, Microsoft Word plug-in customers increased fourfold and revenue increased fivefold. The company also revealed strong demand from the private equity sector, which relies on completing deals quickly. Companies like PepsiCo and PwC are now using the plugin.
RobinAI said that if you are interested in trying this software, you can log on to its website to get it for free:
https://www.robinai.com/