AI-powered legal copilot Robin AI, has raised $26 million in new funding. The Series B funding round was led by Temasek and included support from QuantumLight, Plural and AFG Partners. The funds will be used to accelerate US expansion, launch in Asia Pacific and hire more AI engineers.
CEO and co-founder Richard Robinson, said: “We’ve seen incredible customer traction with what we believe is the smartest AI contract copilot on the market. But this is just the beginning. We are building the AI platform for the legal sector – a service that deeply understands every aspect of the legal function, from drafting contracts, researching case law to explaining legal concepts – our AI will help people tackle every legal task.
“This will help level the playing field between big and small law firms and help more people access legal services. This investment will help us to realise this vision.”
What is Robin AI?
Robin AI is a contract copilot designed to accelerate the contract process for businesses. Using generative AI and automation, it aims to speed up the drafting and negotiating of business contracts. Its generative AI engine has been trained on contract repositories, making it easy for legal teams to ask questions about contracts and receive relevant replies.
Working with Anthropic, Robin AI uses the Claude Large Language Model (LLM). It has also used its own data from over 2 million contracts to help train the copilot. To ensure there are no anomalies in the data, Robin AI uses its own legal professionals and external lawyers to fine-tune the solution.
One of the key features is the ability to write highly detailed and complex prompts to get the most accurate response. According to Robin AI, it allows prompts of 150,000 words. That length of prompt means that contract teams are able to analyse highly complex clauses or even entire contracts.
Making it even easier to use, Robin AI has also launched its contract copilot as a Microsoft Word add-in. For those interested in what it does, it has made a free trial available.
Enterprise Times: What does this mean?
The legal profession is not adverse to using new technology despite public perceptions of it being a little stuffy. Machine learning solutions have been under development and in use for several years. Over the last year, however, an increasing number of companies, such as Icertis, Agiloft, Genie AI, ContractPodAI and Robin AI, have sprung up or extended existing platforms to offer AI solutions to the legal sector.
There is no question that there is money to be made with the right solution and vast sums to be saved. Large conglomerates are looking for ways to standardise contracts across regions and subsidiaries. Solutions like this make it possible to identify non-standard terms and conditions. They also enable companies to cut costs and identify unexpected risks by uncovering problems with contracts.
There are two impressive things about Robin AI. The first is the size of the prompt. The second is its use of lawyers to constantly review the underlying data set on which it is trained. The latter removes the risk of the AI generating hallucinations or false information. Without that check, it is all too easy for lawyers to cite false precedents, as a lawyer in the US discovered last year.
Robinson talks about Robin AI closing the gap between big and small law firms. It is likely to go further and provide small businesses with more control over the contracts they sign.
