This SoftBank-backed startup that uses AI to draft legal documents just raised $10 million. Check out the 10-slide pitch deck Robin AI used to land the cash.
Recent developments in AI and machine learning technology around the advent of GPT 3.5 has led to seismic changes for companies in the sector, Robin AI cofounder and CEO Richard Robinson told Insider
"The growth of machine learning is an industry-level change and we have to invest in order to be a major company in this space, Robinson said. "There was a time in the past where it looked like we might have been too early in this space... even though the capabilities of AI and machine learning tech were amazing but not transformative, that has now shifted."
In addition, Robin has partially acquired rival startup LawGeex after the company pivoted its business plan away from enterprise customers meaning London-based Robin has brought in clients like Pepsi and UBS. Robin's model is trained on proprietary data from 4.5 million legal documents and the fresh funding will go towards further investment in the company's tech platform.
The new funding will also go towards expanding the startup's team to 100 staff from around 75 currently with a focus on sales and marketing.
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