Jobs at risk
Once hailed as one of the UK’s brightest legal tech unicorns, Robin AI has reportedly been put up for sale after failing to close a $50 million (£38 million) funding round.
According to reports from City A.M. and Artificial Lawyer, the London-based start-up, which counts Revolut co-founder Nik Storonsky and Monzo’s Tom Blomfield among its backers, has apparently listed itself on an insolvency marketplace as it explores “options for its future”.
The move comes just days after the company, which has around 170 staff, reportedly began laying off employees across its London and New York offices. Around a third of staff are thought to be affected.
Founded in 2019 by former Clifford Chance disputes lawyer Richard Robinson and machine learning researcher James Clough, Robin AI built its reputation on AI-powered contract review tools used by clients including Big Four duo PwC and KPMG.
When approached for comment, Robin AI told Artificial Lawyer it was “unable to confirm nor deny” rumours about the insolvency listing. However, it’s important to note that a listing does not necessarily mean the company is insolvent.