Robin AI has reportedly been put up for sale after failing to close a planned $50 million funding round and laying off staff across London and New York.
The move follows a series of senior departures at the London-headquartered legal tech company.
Robin AI has reportedly been put up for sale, just days after reports that it had failed to close a $50 million funding round and begun laying off staff across London and New York.
According to City AM, the legal tech startup has been listed on an insolvency marketplace as it "explores options for its future," including discussions with potential buyers.
City AM said Robin declined to comment.
Funding struggles and job cuts
The news comes just days after it emerged that Robin had entered a consultation process over job cuts in its London HQ and made layoffs in New York, with around 50 roles understood 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 aimed at in-house teams.
The company has raised around $69 million to date, including a $25 million Series B led by Singapore-based investor Temasek last November.
Senior exits
The financial struggles come after several senior exits at the company.
Co-founder Clough - who served as CTO - left the company late last year, while his replacement Tramale Turner left earlier this month after just ten months in the job. Ryan Heath, the company’s head of communications, also departed in September after 18 months in the role.
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