Lexion – an AI-powered contract management and operations workflow platform – announced a $20 million Series B funding round led by Point72 Ventures, with participation from Citi Ventures, and existing investors Khosla Ventures, Madrona Venture Group, and Wilson Sonsini. This latest funding round brings the total amount raised to over $35 million, enabling the company to further enhance Lexion’s core platform and AI capabilities to help every department close deals faster.
Originally launched at the Paul Allen Institute for Artificial Intelligence as a contract management system for lawyers, Lexion’s artificial intelligence and automation capabilities have accelerated legal work and streamlined processes across multiple disciplines, including sales, procurement, finance, and technology.
Last year, Lexion experienced dramatic growth, tripling its revenue for the third year in a row and expanding its customer base to include hundreds of corporate clients from various industries like B2B technology, healthcare, consumer goods, manufacturing, and gaming. And Lexion’s easy implementation and intuitive interface take the stress out of adopting new software.
With this latest funding round, Lexion is poised to transform not only the legal department, but the entire operational landscape for companies of all sizes and industries.
KEY QUOTES:
“Lexion is all about helping every team do more business, faster. We’ve proven how award-winning AI and no-code automation can accelerate legal tasks, but we’ve also seen other divisions adopting the software. Now we’re accelerating sales cycles, vendor agreements, security reviews, RFPs, and even employment offers for departments where legal is not directly involved.”
“Our legal customers often comment how their sales teams don’t even notice they’re using a new technology because it integrates so well with their systems.”
- Gaurav Oberoi, CEO of Lexion
“Lexion’s investment in AI, paired with the team’s technical, product, and operations expertise, positions the company well for broader adoption and cross-departmental expansion. We’re excited to support the team as they continue to innovate in the operations space.”
- Sri Chandrasekar, Managing Partner at Point72 Ventures, who will be joining Lexion’s board.
“During our investment process, Citi reviewed Lexion’s solution and was impressed with its capabilities, ease of use, and seamless integration.”
- Matt Carbonara, Managing Director at Citi Ventures
“At Khosla Ventures, we invest early into bold ideas that could be impactful. Lexion’s team has made tremendous progress and is well positioned to take advantage of newer AI generative capabilities to bring greater automation across businesses.”
- Kanu Gulati, partner at Khosla Ventures
