Point72 Leads the $75M Series C Financing of Cambridge-based (U.K.) Luminance

Gunderson Dettmer represented client Point72 Private Investment in leading the $75 million Series C financing of Luminance, the pioneer in Legal-Grade™ AI. Developed by AI experts from the University of Cambridge, Luminance uses specialist AI – known as the “Panel of Judges” – to automate and augment every touchpoint a business has with its contracts, from generation to negotiation and post-execution analysis. The company will use the new capital to supercharge its US growth and fuel key hires and new offices across the US, APAC and Europe.

In the announcement of the transaction, Point72 Private Investments Managing Partner Sri Chandrasekar said,  “We know this market well and strongly believe in the power of next-generation AI to revolutionise contracting processes across the enterprise. We are excited to back Luminance as it continues building a specialist and trusted technology that has already been adopted by many of the world’s largest organizations. Their team, strategy and vision positions them well to win this market.”

The Gunderson Dettmer deal team was led by Ibrahim Elshamy and Ross Burningham.

Companies
Point72
Luminance