About Lexion
Lexion provides a contract management system that helps various teams, such as sales, legal, and HR, to manage contracts more efficiently. The platform uses artificial intelligence, specifically GPT-3, to automate tasks like extracting important details from contracts, generating clause language, and suggesting edits. This automation allows legal teams to spend less time on repetitive tasks and focus on more strategic work. Lexion stands out from competitors by offering a user-friendly interface that enhances collaboration between sales and legal teams, ultimately speeding up the sales process. The company's goal is to improve productivity and operational efficiency for its clients through streamlined contract management.
Seattle, WashingtonHeadquarters
2018Year Founded
$34.2MTotal Funding
ACQUISITIONCompany Stage
Enterprise Software, AI & Machine Learning, LegalIndustries
51-200Employees
Risks
Integration challenges with DocuSign's systems may delay realizing Lexion's full potential.
Lexion's reliance on GPT-3 could be risky if OpenAI changes licensing terms.
Intensifying competition in AI contract management could impact Lexion's market share.
Differentiation
Lexion uses GPT-3 to automate contract management, enhancing efficiency and accuracy.
The platform integrates seamlessly with business, storage, and signature systems for unified management.
Lexion's AI extracts key contract details, reducing manual work for legal teams.
Upsides
DocuSign's acquisition provides Lexion with resources for further AI development and innovation.
Integration with DocuSign's platform could increase customer adoption and satisfaction.
Lexion's founders in senior roles at DocuSign ensure strategic alignment and successful integration.
Funding
Total raised$34.24 M
Latest valuation$165.00 M
StageACQUISITION
ACQUISITION
4/30/2024$165
$165.00 M$20
$100.00 MSERIES A
5/31/2021$11
$55.00 MSEED
6/30/2019$4
$21.00 M