Legal AI

Luminance Made £2.4m Revenue, With £5m Loss in 2019

19th November 2020 artificiallawyer 2

Legal AI doc analysis company, Luminance, has filed its accounts for 2019, showing that the fast growing company saw revenues last year of £2.356m, ($3.12m) – but also booked an operating loss of £5m ($6.62m). The figures paint a picture of successful global expansion, but also a business model that is rapidly burning through funding and generating only a modest average income per client.