Luminance, the London-based document analysis software founded by lawyers and mathematicians that has been working with UK-based law firms for continuous improvement, has raised a round of funding from Invoke Capital, an investment company with a bent for technological investments. As per reports, the funding has amounted to around $3 million, which will be used to develop the platform further.

Luminance raises @3 million from Invoke Capital

Luminance is a revolutionary platform based on artificial intelligence and machine learning abilities that was developed at the University of Cambridge. The platform is a documents analysis software that is continuously improved and developed to handle forensic big data and add value to a legal team. It works by using artificial intelligence to accurately interpret pages of complex legal documentation with speed and efficiency, thus helping lawyers to focus on softer aspects of their business. For this purpose, the company has been in collaboration with UK-based international law firm Slaughter and May to test and improve its deciphering capabilities continuously.

Emily Foges, CEO of Luminance, stated: “Luminance has been trained to think like a lawyer. With Slaughter and May’s help, we are designing the system to understand how lawyers think, and to draw out key findings without the need to be told what to look for. This will transform document analysis and enhance the entire transaction process for law firms and their clients. Highly-trained lawyers who would otherwise be scanning through thousands of pages of repetitive documents can spend more of their time analysing the findings and negotiating the terms of the deal.”

Invoke Capital’s founder Mike Lynch expressed his strong belief that further development of the artificial intelligence platform used by Luminance will ultimately transform the face of how legal proceedings work.

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