Luminance Technologies Ltd, a UK-based legal AI startup, has raised US$75 million in a funding round led by Point72 Private Investments, with participation from Forestay Capital and existing investors.

Founded in 2015, Luminance develops software to analyze legal documents and has added generative AI features to suggest language for legal contracts.

The recent investment brings Luminance’s total funding to over US$115 million in the past year.

Point72’s Sri Chandrasekar will join Luminance’s board, noting the company’s technology offers cost savings and competitive advantages.