Robin AI shakes up M&A contracts

Robin AI Reports will help businesses close deals faster by radically disrupting the pace of due diligence and negotiations

LONDON, June 13, 2024 /PRNewswire/ -- Robin AI, the AI-powered legal assistant, today announced a revolutionary new product line, Robin AI Reports, which automates a key piece of due diligence and negotiations, providing a boost to the sluggish pace of M&A.

The new offering can generate reports on contracts in minutes — solving expensive pain points for legal teams, by dramatically cutting the time and cost of manual work in due diligence around M&A, IPOs, and other asset management including real estate and debt financing.

A free version of Robin AI Reports is available as part of the company's commitment to democratizing access to legal services.

The product was launched live on-stage at London's LegalTechTalk Conference.

Why it matters: Robin AI is the first to market automating a key piece of due diligence and negotiations.

• The Reports product can deliver a single report analyzing many legal texts, going much further than a simple summary.
• It will help legal teams close deals faster, changing how M&A and IPOs will be conducted — providing a boost to an otherwise sluggish deals environment.
• Robin AI's biggest product launch yet will also save investors' money — the multi-million prices charged by large law firms are now optional.
• Reports equips C-Suite executives and board members with the information required to get alignment on key issues, removing blockers and delays from processes.

How it works: Reports can be run across hundreds of contracts at once, avoiding delays caused by lawyers needing to review and summarize contracts one-by-one.

• Through the Robin AI platform, lawyers can click to generate a report which is emailed to them on completion.
• Users build a list of 'red-flag' issues, and deviations from preferred positions, which they want summarized for each contract.
• Robin AI Reports then provides an accurate summary of the issues for each contract, with clear citations, so that the summary can be easily verified by a human.
• The easy-to-read reports can be generated for a wide range of purposes including M&A due diligence, NDA compliance, supplier agreements and audits.
• Users can access 3 reports per month for free.

Case in point: Robin AI Reports was developed with partners including the University of Cambridge, who have been using the product since April.

• A task that used to take 3 hours to complete by Cambridge's senior in-house lawyers now takes 30 minutes on average — a roughly 85% time saving.

Context: Robin AI partners with AWS and Anthropic.

• Amazon Bedrock allows Robin AI to leverage Anthropic's powerful Claude 3 generative AI model alongside Robin's own models, while ensuring customer data remains secure and compliant with local data regulations.
• A copy of Claude 3 exists inside Robin AI's cloud environment, meaning user data never leaves Robin's cloud.

What they're saying:

• "With Robin AI Reports, M&A, IPO, and other asset transactions no longer have to grind to a halt for weeks for due diligence, " said James Clough, CTO and co-founder of Robin AI, at the LegalTech Talk conference in London.
• "We're helping businesses close deals faster and are proud to be the first in our industry to do this," Clough said.
• "We have found the reports to be incredibly helpful, saving our team many hours and enabling us to conduct legal reviews in a more accurate way," said Sam Sturge, Director, Private Assets at University of Cambridge Investment Management
• "They are also easy to generate and review, meaning you do not have to be a lawyer or AI expert to harness the benefits from the platform," Sturge said.

About Robin AI: Founded in 2019 by Richard Robinson, a lawyer at Clifford Chance, and James Clough, a machine learning research scientist at Imperial College.

• Robin AI now has 140 full-time employees and over 100 customers.
• Robin AI raised $26M in Series B funding in January and recently appointed Scott Casey as CFO, cementing its leadership in the fast-growing legal AI sector.

Contact: press@robinai.com

Logo - https://mma.prnewswire.com/media/2261385/Robin_AI_Logo.jpg