UK-based AI-powered legal services provider Scissero has bought the managed services team of rival Robin AI, a once high-profile legal start-up, specialising in AI-powered contract software.
The combined business will boost Scissero’s client base to more than 100 companies, including FTSE 100 and Fortune 500 companies, it said.
London-headquartered Scissero said that the deal for an undisclosed amount will improve its services in contract review, “regulatory workflows” and other legal processes and help it expand in the US, Europe, the Middle East, Africa and Asia.
As part of the transaction, Robin’s managed services leadership team, including Olivia Vaughan (vice president legal) and Ryan Cattle (global head of legal), will join Scissero and continue working closely with clients at in-house legal teams.
Founded in 2019 by a former Clifford Chance lawyer, Robin became a prominent legaltech supplier after raising tens of millions of dollars from investors and being namechecked by former British Prime Minister, Rishi Sunak.
But after failing to raise $50m of funds in October, Robin AI laid off about one third of its staff, Sifted reported, amounting to around 50 roles.
Artificial Lawyer reported that approximately 75 staff will move over to Scissero in the UK and that Robin AI’s tech group is in negotiations with another company.
Last month, Weston Wicks, senior director and analyst in the legal and compliance team at research company Gartner, predicted a slowing down of fundraising in legaltech leading to some consolidation in the market.
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