At a Glance
| Detail | Luminance | Theo AI |
|---|---|---|
| Category | GenAI & Drafting | GenAI & Drafting |
| Total raised | $138M | $9.8M |
| Rounds tracked | 5 | 3 |
| Latest round | Series C, $75M · Feb 2025 | Seed, $3.4M · Nov 2025 |
| Last valuation | $100M | Not disclosed |
| Lead investors | Point72 Private Investments, March Capital, Invoke Capital, Talis Capital | Run Ventures, NextView Ventures, Collide Capital, nvp capital |
| Built for | In-house teams, Large firms | Not disclosed |
| Headquarters | United Kingdom | United States |
Funding, Side by Side
Luminance rounds
- Feb 2025Series C$75M
- Apr 2024Series B$40M
- Feb 2019Series B$10M
- Nov 2017Series A$10M
- Sep 2016Seed$3M
Theo AI rounds
- Nov 2025Seed$3.4M
- May 2025Seed$4.2M
- Nov 2024Seed$2.2M
Our Take
We have not tested these two head to head yet. The numbers above come from public funding announcements. If you use either one, tell us what you found and it may become a Field Note.
Quick Answers
- Which has raised more, Luminance or Theo AI?
- Luminance has raised $138M in disclosed funding, compared with $9.8M for Theo AI.
- Do Luminance and Theo AI share investors?
- No. None of the investors we track have backed both companies.
- What is Luminance best for?
- Luminance is an AI contract platform for reviewing, negotiating and analyzing contracts.
Source: Legal Tech Circle funding data, from public announcements. Updated November 11, 2026.