In a second major US win since opening in Chicago last month, US top 100 firm Holland & Knight LLP, which has more than 1250 lawyers in 27 offices, has deployed Luminance’s machine learning technology to increase the efficiency of its due diligence process.
“Securing a client of the calibre of Holland & Knight is evidence that the opening of Luminance’s first North American headquarters in Chicago last month is paying off.” said Emily Foges, Luminance CEO. Luminance applies the latest advances in machine learning technology to read and understand legal documents in a similar way to humans, while coping with volumes and working at speeds that no human can match. Foges says: “Luminance offers clear insight into complex transactions and our technology will enhance Holland & Knight’s due diligence processes, and focus their analysis on critical issues. Holland & Knight’s innovative approach and desire to lead the charge on technology innovation in the legal industry means it is a perfect fit for Luminance.”
H&K reviewed, piloted, and implemented a number of contract analytics solutions. After a successful trial period H&K believed that Luminance is one of the few products mature enough to make adoption and implementation an easy and obvious choice.
Josias Dewey, the firm’s innovation partner and chair of its innovation committee said: “Luminance is a comprehensive product that truly enhances the due diligence process across our practice areas. We envision deploying it for our corporate, securities, and M&A practices, as well as our real estate practice and a variety of other knowledge management functions. Technologies such as Luminance are the future and we could not be more pleased to announce this deployment. We look forward to working with the Luminance platform and the team behind it.”