Legal Technology Start-up Robin AI to Sell Majority of Operations

Introduction to Robin AI

A legal technology start-up hailed as one of the industry’s most promising players after raising tens of millions of pounds from blue-chip investors is about to sell the majority of its operations to a rival. Robin AI, which was forced to lay off a large part of its workforce in the autumn after a new round of funding failed to materialise, is selling its managed services division to Scissero, a UK-based rival.

The Deal

Sources said the deal, said to have been struck at a bargain price, is expected to be publicly announced. In 2023, Robin AI was praised by then Prime Minister Rishi Sunak for "revolutionizing the legal profession, writing contracts in minutes and saving businesses and clients time and money." The company was backed by investors including Japanese giant SoftBank and Episode1, a well-known London venture capital firm.

Expansion and Competition

The merger with Scissero will expand its customer base to more than 100 companies and allow it to compete more directly with legal AI companies such as the US company Harvey and the Swedish company Legora. Robin AI’s customer base includes large asset managers, investment banks and companies such as Pfizer, PepsiCo and General Electric.

The Enlarged Company

The enlarged company will employ around 150 people, although Scissero is not acquiring Robin AI’s technology platform. In a statement, Scissero chief executive Mathias Strasser said: “The market for AI-powered legal services is entering a period of significant consolidation and the UK is exceptionally well placed to lead the next wave of innovation in AI and legal technology.”

Future Plans

“We are proud to be early and proactive in shaping this evolution, bringing together world-class talent, advanced technology and scalable delivery.” Richard Robinson, CEO of Robin AI, said: “Becoming part of Scissero marks an exciting new chapter for our managed services team and our customers.” “Scissero’s global capabilities, regulated legal services offering and market-leading technology platform mean our clients will now benefit from a broader range of solutions, while continuing to receive the high quality service and fast turnaround times they rely on.”