Legal services provider Scissero has acquired the managed services team of Robin AI, which was put up for distressed sale in October after it failed to raise funding.
As part of the transaction, Robin’s managed services leadership team, including Olivia Vaughan (VP legal) and Ryan Cattle (global head of legal), will join Scissero, but CEO and co-founder Richard Robinson will not.
Robin AI as of October had $10m ARR and a $16m pipeline but has made significant losses over the past three years and insiders say that the company’s success had been marred by internal politics.
Scissero, founded in 2018 as an AI contract management offering, says that the combination of the two firms will create a London-based “legal tech powerhouse” serving large, international clients, including globally renowned investment houses, and FTSE 100 and Fortune 500 firms. It will also boost Scissero’s client base to more than 100 companies.
The acquisition combines Scissero’s suite of AI-enabled legal services and domain knowledge across asset management and capital markets with Robin’s global footprint, international workforce and significant client base. Scissero’s AI technologies, particularly around markups for M&A ancillary documents such as NDAs, engagement letters, and non-reliance letters, slot directly into the services Robin AI provides, making this a natural “hand-in-glove” combination.
Mathias Strasser, CEO and founder of Scissero, commented: “Robin has built a global reputation for quality, speed and care, and these values strongly align with our own, making the team a perfect fit.
“The AI-enabled legal services market is entering a period of meaningful consolidation, and the UK is exceptionally well placed to lead the next wave of innovation in AI and legal technology. We are proud to be taking an early, proactive role in shaping this evolution, bringing together best-in-class talent, advanced technology and scalable delivery.
“Together, we are uniquely positioned to offer an expanded suite of technology-enabled legal services, supported by strong, vertically integrated AI technology, a global footprint and an unwavering commitment to client service. As an entrepreneur, lawyer and technologist, I am excited to push our strategy forward with a continued focus on delivering outstanding service to in-house legal teams around the world.”
See also:
Robin AI listed for distressed sale nine months after making the Sunday Times 100 Tech list
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