On April 2, 2024, Luminance, a Cambridge-based legal-grade AI start-up, announced a $40 million Series B financing round led by March Capital, with participation from National Grid Partners and other existing investors, including Slaughter and May. Wilson Sonsini Goodrich & Rosati advised Luminance on the transaction.

Luminance, experiencing a fivefold increase in ARR over the past two years, will use this latest funding to fuel global growth and expand its footprint in the U.S. as the company continues to drive unprecedented innovation and leadership in the legal AI market. 

Luminance automates the generation, negotiation, and analysis of contracts and other legal documents for a rapidly growing customer base spanning 600 organizations in 70 countries, from global manufacturers such as Koch Industries, Hitachi, and Yokogawa to insurers including Liberty Mutual, as well as pharmaceutical giants such as LG Chem.

The Wilson Sonsini team that advised Luminance on the transaction included Daniel Glazer, Michael Labriola, Elisa Sielski, Betty Rosenbaum, Abbie Currie, Mike Casey, Stephen Heifetz, Navpreet Moonga, and Bryan Poellot.

For more information, please see Luminance’s announcement. Further coverage can be found at City AM.