Luminance’s US charge expands with Dallas opening
Luminance has opened its Dallas office following a recent expansion of the company’s New York headquarters and key hires across North America, including in San Francisco and Canada, to accommodate accelerated market capture in the region.
The global leader in legal AI has scaled up in the US presence following a $40million Series B funding round in April and more than 500 per cent growth.
Founded by AI experts from the University of Cambridge, Luminance now generates more than one-third of its revenue in the US and was recently recognised on the Inc. 5000 list of America’s fastest-growing private companies.
Today, the company’s customer base spans 700-plus organisations in 70-plus countries, from technology giants such as AMD and Hitachi, to food and beverage businesses including AB InBev and Panda Express, pharmaceutical giant LG Chem, and global manufacturers Koch Industries and Yokogawa.
Luminance’s strategic growth in the US is bolstered by the company’s April $40m Series B funding round. The investment was led by Santa Monica-based venture firm, March Capital, with participation by National Grid Partners, GTM Capital and other existing investors, including leading law firm Slaughter and May.
Eleanor Lightbody, CEO of Luminance, said: “Our recent financing is a testament to the strength of our technology, which is defining a new category of legal-grade AI.
“To date, Luminance has organically captured market share in the US. Now, we are doubling down in Dallas and New York as just the first steps of our US expansion, enabling us to better serve existing customers and bring our specialised, proprietary AI to more organisations worldwide.”
In addition to expanding its US footprint, Luminance will continue its focus on product innovation. Over the last 12 months, the company has released several industry firsts, including a Legal-Grade chatbot for instant Q&A and automated redrafting, ‘Self-Serve’ functionality for non-legal teams to review and negotiate third-party contracts, and ‘Auto Mark-Up’, which allows users to bring any agreement in line with company standards in one click.
