🏆 Deal of the Month · February 2025
Luminance raised GBP 59 million in a Series C funding round; the post-money valuation remains undisclosed. The round was led by Point72 Ventures, with participation from a consortium of institutional and strategic investors. The capital is expected to accelerate Luminance's AI-driven legal platform and expand its global commercial footprint.
Luminance — key deal facts
| Company | Luminance |
| Founded | 2015 |
| Headquarters | Cambridge, United Kingdom |
| Amount raised | GBP 59m |
| Valuation | Valuation Remains Undisclosed |
| Round | Series C |
| Investors | Forestay Capital, March Capital, National Grid Partners (NGP), Point72 Ventures, RPS Ventures, Schroders Capital, Slaughter and May |
| Sectors | Legal Tech |
Who invested in Luminance?
The Series C brought together Forestay Capital, March Capital, National Grid Partners (NGP), Point72 Ventures, RPS Ventures, Schroders Capital, and Slaughter and May. The presence of Slaughter and May — a Magic Circle law firm — alongside deep-tech and growth-equity funds signals strong conviction from both the legal industry and the institutional investment community. This cross-sector investor base is uncommon in legal tech and reflects the platform's traction across both enterprise and professional-services buyers.
What does Luminance do?
Luminance is an artificial intelligence platform purpose-built for legal contract work, automating workflows across contract creation, negotiation, risk review, and compliance. Its flagship products include Contract Analysis Software and Luminance Discovery, an eDiscovery tool. The company was founded in September 2015 by Adam Guthrie and Dr. Graham Sills, both from the University of Cambridge, and is headquartered in Cambridge, United Kingdom. The platform is built on a proprietary 'Panel of Judges' AI system and a large language model trained on more than 150 million verified legal documents, targeting legal-grade accuracy at enterprise scale.
Luminance valuation & multiples
No verified revenue or EBITDA figures are publicly available for Luminance, and the post-money valuation was not disclosed in connection with this round; accordingly, EV/Sales and EV/EBITDA multiples cannot be calculated at this time. Investors seeking sector context can benchmark this deal against comparable legal-tech and enterprise-AI transactions. Explore Venionaire DealMatrix's Legal Tech and Enterprise Software sector multiples pages for current valuation reference ranges.
Explore the benchmarks: Series C.
Frequently asked questions
How much did Luminance raise in its Series C?
Luminance raised GBP 59 million in its Series C funding round, announced in February 2025.
What is Luminance's valuation?
Luminance's post-money valuation was not disclosed in connection with the Series C round.
Who invested in Luminance?
The Series C investors include Forestay Capital, March Capital, National Grid Partners (NGP), Point72 Ventures, RPS Ventures, Schroders Capital, and Slaughter and May.
When was Luminance founded and where is it based?
Luminance was founded in September 2015 and is headquartered in Cambridge, United Kingdom.
Source: original announcement — read the full report.