Artificial intelligence-driven due diligence processor Luminance has raised $3m in a new round of funding from Invoke Capital Partners.
The company was founded by a group of lawyers and mathematicians and makes use of machine learning technology developed at Cambridge University.
The company’s artificial intelligence is designed to understand complex documents to make due diligence processes more efficient.
Luminance aims to help the system understand how lawyers think to enable it to draw out key findings from documents without being told what to look for.
Inovke Capital’s founder and series entrepreneur Mike Lynch said, “It is not an understatement to say that this is an application of artificial intelligence that will completely transform the due diligence process, which is perhaps long overdue.”
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