This Legal AI Startup’s Approach Won It Attention from Singapore

This is Natasha, doing a guest appearance on the ever fantastic AI Agenda! 

Legal tech is famously a graveyard of failed startups. But legal AI startups may have a better shot at turning things around.

Take one-year old Harvey—supposedly named for a character in the popular legal sitcom “Suits”—which last month raised capital at a $700 million valuation. As we noted at the time of the fundraising, Harvey’s annual recurring revenue has skyrocketed to $10 million from $2 million in the past eight months.

Then there’s Robin AI, an older firm (all of four years old!), which just closed a $26 million funding round led by Temasek Holdings, a sovereign wealth fund in Singapore. Robin AI, founded by Richard Robinson, uses AI to help speed up the process of drafting and negotiating contracts and aggregating information for lawyers. I hear Robin AI’s annual recurring revenue grew from around $1.5 million to $8 million over the past twelve months.