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Legaltech Robin AI wins the backing of Wise and Monzo co-founders

Tom Blomfield and Taavet Hinrikus both have their eyes on this AI-powered lawyer.

a couple of men standing in a room with a window and a plant

Robin AI.

Artificial intelligence remains the biggest buzzword of 2023, despite worries about accuracy and its concerning personality traits.

Enter Robin AI, a legal software-as-a-service provider with a focus on helping the legal sector to write and review contracts faster and more accurately.

The startup says its AI has been trained on proprietary data from 4.5m legal documents, with the result being that it can enable its users to draft and negotiate contracts 60-80 per cent faster and save up to 75 per cent in legal fees.

Founded by former Clifford Chance lawyer Richard Robinson in 2019, Robin AI is already cash flow positive and today raised $10.5m from a host of investors, including some familiar faces.

The round was led by Plural—the VC fund launched by Wise co-founder Taavet Hinrikus after he stepped down as CEO in 2017.

Hinrikus didn’t comment on the investment, but Plural’s founding partner Ian Hogarth said: “Repetitive legal work is a clear use case for large language models and Robin AI is the leading company to apply this rapidly advancing technology to contract generation and editing.”

And, hiding among the angel investors taking part, that included executives from Bridgepoint, Apollo, Clifford Chance and Barings, was also Monzo co-founder Tom Blomfield.

Coincidence? I think not. 

It’s great to see London’s fintech angel alumni continuing to back new startups and the next generation of entrepreneurs.

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