Luminance expands into India with Shardul Amarchand Mangaldas & Co agreement 21 March 2019 | New Delhi
21 March 19 - Leading Indian law firm, Shardul Armarchand Mangaldas & Co (SAM & Co), has deployed Luminance’s machine learning technology to assist with M&A due diligence, marking the start of the tech company’s expansion into the Indian legal market. This follows Luminance’s continued success in APAC, having recently celebrated the first anniversary of the company’s Singaporean office and already counting five customers in Singapore and seven in Australia.
SAM & Co has selected Luminance for due diligence after comparing the benefits of the technology against a historic manual review on the same document set. Within the first two hours of using Luminance, the platform’s machine learning capabilities enabled the technology to halve the relevant documents in the data room, meaning that the firm could narrow the review and be alerted to the important information much more quickly.
“At Shardul Armarchand Mangaldas & Co, we take a dynamic approach to practising law and are highly impressed with the powerful technology, intuitive platform and value based commercial model that Luminance encompasses” commented Sayantan Dutta and Manjari Tyagi, Partners at SAM & Co. “The team will particularly benefit from the added control that Luminance offers throughout the review process. We look forward to seeing how using Luminance will continue to transform the way we conduct document review”.
“Luminance was able to identify the majority of document types without any training and has a friendly user interface, it has made the pilot review process quite efficient for the entire team,” said Shraddha Krishnan Dash, Senior Associate at SAM & Co.
Emily Foges, CEO of Luminance, added, “Luminance is proud to be associated with Shardul Armarchand Mangaldas & Co; as a highly innovative and forward-thinking firm they are an ideal customer for Luminance’s powerful machine learning technology and we anticipate that we will enable the firm to stay ahead in international M&A deals.”
Developed using the latest advances in machine learning and pattern recognition techniques from the University of Cambridge, Luminance has quickly become the market leader in legal AI, understanding language in the way humans do but with the ability to process it at speeds and in volumes which humans could never achieve. The platform reads and understands legal documents, while actively learning from the interactions between the lawyer and their documents.
Luminance’s 140 customers include 15 of The Global Top 100 law firms and three of the ‘Big Four’ accountancy firms. The company has recently been shortlisted for ‘Innovative Enterprise Product of the Year’ at the National Technology Awards 2019.
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Shardul Amarchand Mangaldas & Co (SAM & Co), founded on a century of legal achievements, is one of India’s leading full-service law firms. The Firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation and collaboration. SAM & Co is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, capital markets, banking & finance and projects & infrastructure.
The Firm has over 530 lawyers including more than 110 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru and Chennai.
Launched in September 2016 and already in use on six continents, Luminance’s document review platform offers lawyers greater insight at unmatched speeds. Luminance builds on ground-breaking machine learning and pattern recognition techniques developed at the University of Cambridge to read and understand legal language. The technology is used by law firms and in-house teams in over 40 countries around the world to improve processes such as due diligence, compliance reviews, property lease abstraction and eDiscovery. Luminance has offices in London, Cambridge, Chicago, Singapore and New York, with over 130 customers including 15 of ‘the Global Top 100’ law firms and three of the ‘Big Four’ accountancy firms.
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