Lexion, a Seattle, WA-based provider of an AI-powered contract management and operations workflow platform, raised $20M in Series B funding.
The round, which brought the total amount to $35M, was led by Point72 Ventures, with participation from Citi Ventures, and existing investors Khosla Ventures, Madrona Venture Group, and Wilson Sonsini. Sri Chandrasekar, Managing Partner at Point72 Ventures, will be joining Lexion’s board.
The company intends to use the funds to expand its offering to serve legal, sales, procurement, finance, HR, and IT teams across industry.
Led by CEO Gaurav Oberoi, Lexion provides an operations workflow platform that helps every team do more, by streamlining and centralizing the contracting process in a system that works the way you do. Its artificial intelligence and automation capabilities have accelerated legal work and streamlined processes across multiple disciplines, including sales, procurement, finance, and technology.
In 2022, Lexion experienced 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, such as B2B technology, healthcare, consumer goods, manufacturing, and gaming. The company is now expanding its offering to serve legal, sales, procurement, finance, HR, and IT teams across every industry.
FinSMEs
19/04/2023