Luminance

Luminance is the world’s most advanced AI technology for the legal processing of contracts and documents. Founded by mathematicians from the University of Cambridge, Luminance’s AI reads and forms a conceptual understanding of documents in any language. Luminance uses this understanding to augment the spectrum of legal matters, from AI-powered contract drafting, negotiation and review to investigations and eDiscovery. Luminance is used by over 400 customers in 60 countries, including all of the Big Four consultancy firms, a quarter of the world’s largest law firms and multinational organisations.

Company overview

Luminance’s core technology, LITE, enables the platform to not only form an understanding of a document, but then augment this knowledge by learning from the interaction between legal professionals and the matter at hand. Luminance can automatically perform tasks such as document clustering, filtering, data extraction, similar paragraph/datapoint suggestions, model clause/document comparison and anomaly detection.

Luminance’s core engine, LITE, powers applications across different practice areas including Discovery, helping litigators with eDiscovery, arbitration and disputes, and Diligence, supporting corporate lawyers with post-executed contract analytics in tasks such M&A due-diligence, property lease abstraction, model document comparison, exposure analysis and associated repapering.

Luminance has transformed the professional practices of over 400 organisations in 60 countries, one-quarter of ‘The Global 100’ including Holland & Knight, Slaughter and May and Bird & Bird, and each of the Big Four accounting firms, and has won numerous accolades, including the Queen’s Award for Innovation, being selected as a ‘Technology Pioneer’ by the World Economic Forum and making CNBC’s ‘Upstart 100’ list.

In February 2019, Luminance raised $10 million during a round of Series B funding, with the current valuation of the company standing at $100 million.

 


Products and services

Luminance Discovery

Luminance Discovery uses next-generation AI, providing legal professionals with an end-to-end eDiscovery platform. Able to enhance and expedite a range of matters, Luminance can be used across investigations and litigation to ensure compliance with data protection regulations. The technology can be deployed and used within hours, requiring no pre-programming or lengthy user onboarding.

Discovery enables lawyers to quickly get to the heart of a matter, using AI-powered search and filtering functionality and data visualization technology to cull irrelevant information within minutes. By actually understanding your documents, Luminance enables lawyers to get to the heart of a case, from culling irrelevant information within minutes to AI-powered conceptual search and filtering functionality.

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Luminance Corporate

Luminance Corporate uses AI to enhance and expedite the entire contract lifecycle process, from contract drafting and negotiation to understanding the key features of executed contracts. With Corporate, organisations can see all of their contracts in one platform, showing both the status and workflow of contracts currently under negotiation as well as an AI-powered index of executed contracts. Fully integrated with Microsoft Word, Luminance is the first AI that can be used out-of-the-box to take a first-pass review of incoming contracts, with in-built knowledge banks suggesting compliant wording for areas that present risk. Easy-to-use Legal Process Automation tools ensure smooth, hierarchically-assigned contract flow.

Trusted by over 400 customers, including a quarter of the world’s top 100 law firms and global organisations such as Tesco and Ferrero, Luminance helps organisations to manage workflows, get rapid answers to urgent business questions and maintain compliance.

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Luminance Diligence

Luminance Diligence uses next-generation AI to enhance and expedite a vast range of contract review projects, from M&A due diligence and lease reviews, to ensuring compliance with data protection regulations, contract consolidation exercises and repapering. Luminance’s AI works out-of-the-box to identify over 1000 different concepts within executed contracts, as well as flagging anomalies that lawyers might not have otherwise been aware existed. Luminance helps lawyers to maintain compliance with advanced in-built clause and document comparison technology, and can also be used for redaction, reporting and contract remediation.

Trusted by over 400 customers, including a quarter of the world’s top 100 law firms and global organisations such as Tesco, Ferrero and all of the ‘Big Four’, Luminance works across the even the largest volume of contracts, giving lawyers confidence that nothing has been missed and placing them on the front-foot in negotiations.

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