Robin AI making job cuts after $50m funding setback, Sifted reports

UK legal tech startup Robin AI is reportedly cutting jobs after failing to close a planned $50 million funding round.

According to Sifted, the company has made layoffs in New York and is in consultation over further cuts in London, with around 50 roles expected to be affected in total. Sifted said Robin declined to comment on the story.

Funding stumble

London-headquartered Robin offers an AI-driven contract review and negotiation platform targeted at in-house teams. Founded in 2019 by former Clifford Chance disputes lawyer Richard Robinson and machine learning scientist James Clough, Robin had reportedly been seeking at least $50 million in fresh funding.

The company has raised around $69 million to date, most recently announcing a $25 million Series B round last November.

Robin has expanded internationally in the past two years, opening offices in New York and Singapore - the home of investment giant and key backer Temasek - and growing its headcount to more than 200 employees as of March this year according to publicly available information.

Clough left the company at the end of last year, while Robinson continues to serve as CEO.

Against the trend

Robin’s reported retrenchment contrasts with the broader momentum in European legal tech.

Startups including Definely and Wordsmith have announced major funding rounds this year, while Milan-based Lexroom recently raised $19 million, and AI frontrunner Legora is said to be seeking more than $100 million at a $1.7 billion valuation.