Luminance has raised $40M for its Series B round. The company wants to make good on a prediction that has bounced around legal circles since ChatGPT's release: that LLMs will be able to take on much of paralegals' work. The round was led by March Capital, with participation from National Grid Partners and existing investors including Slaughter and May. Luminance’s legal LLM automates the generation, negotiation and analysis of contracts and other legal documents — from flagging non-standard clau...