Orbital, an artificial intelligence platform specializing in real estate law, has successfully secured $60 million in a Series B funding round. The investment, led by Brighton Park Capital, is earmarked to fuel the company's ambitious expansion plans across the United States and the United Kingdom. This capital injection will bolster product development and solidify Orbital's position in the legal technology sector.
Revolutionizing Real Estate Law with AI
Real estate stands as the world's largest asset class, yet its supporting legal processes remain notoriously archaic and inefficient. CEO Will Pearce highlights that many practices are manual, fragmented, and have seen little change for over a century. This creates significant bottlenecks and a lack of transparency in crucial property transactions.
Orbital addresses these challenges with an AI platform specifically designed for the complexities of real estate law. The technology combines advanced AI with spatial visualization, mapping, and extensive property data to automate document-intensive work. This innovative approach introduces much-needed speed, transparency, and reliability for all parties involved in a transaction.
A Journey from Geospatial Data to Generative AI
Founded in 2018, Orbital's initial focus was on leveraging geospatial and satellite data to solve information access problems in property law. The company's early development was supported by programs like Mishcon de Reya’s MDR Lab, establishing a foundation in AI long before it became mainstream. This problem-first approach distinguished them from many technology-led startups in the legal space.
The company demonstrated its agility by rapidly pivoting to a generative AI stack in 2023, building on years of accumulated domain expertise. This deep understanding of real estate legal work enabled them to develop one of the first LegalAI agents by the end of that year. Their recent financial performance, with more revenue in the last quarter than in their first four years, reflects this successful transition.
Strategic Funding for Aggressive Expansion
The $60 million funding round was led by Brighton Park Capital and saw participation from notable investors, including REV, the venture arm of RELX. The investment from the owner of LexisNexis signals strong industry confidence in Orbital's mission to advance legal AI innovation. Other investors include The LegalTech Fund, Moderne Ventures, and existing customer Grosvenor Group.
With this new capital, Orbital is set to accelerate its growth, particularly within the vast US market. The company plans to double its headcount and establish additional American hubs following the successful opening of its New York office. CEO Will Pearce is personally relocating to the US to spearhead this significant expansion effort.
Orbital's ultimate ambition is to create a single, secure digital workspace for real estate legal work across the entire asset lifecycle. This vision extends beyond serving lawyers to encompass the wider real estate ecosystem. The funding will be crucial in developing the platform to meet these broader market needs.
This substantial Series B funding marks a pivotal moment for Orbital, empowering it to scale its innovative solutions in key global markets. The investment validates the company's focused approach to solving long-standing inefficiencies in real estate law through purpose-built AI. As Orbital expands its footprint, it is poised to redefine the standards of speed and transparency in property transactions worldwide.