Covington Advises National Grid Partners on Series B Investment into Legal AI Platform Luminance

LONDON—Covington represented National Grid Partners Limited in its Series B investment into UK legal AI technology firm Luminance.  Luminance raised a total of $40m in a round that was led by March Capital; the company intends to use the new capital to support its growth in the United States. 

Luminance develops “legal-grade” machine learning large language models that help lawyers automate contract reviews and shorten the time it takes to get them signed.  Luminance models also represented the first use of AI at London’s highest criminal court, the Old Bailey, where it allowed counsel to cut the time spent reviewing evidence by four weeks.

National Grid Partners is the venture capital arm of National Grid.

The Covington team was led by Ben Land-Maycock.