SEATTLE – June 17, 2021 – Lexion, an AI-powered contract management system, announced an oversubscribed $11 million Series A round led by Khosla Ventures, with participation from existing investors Madrona Venture Group and Wilson Sonsini, bringing the total invested to $15.2 million. Kanu Gulati from Khosla Ventures will join Lexion’s board. The Seattle based company plans to use these funds to scale go-to-market functions, drive further AI and product innovation, and grow the team, with a mission to offer a simple contract lifecycle management system (CLMs) that just works.
Many CLMs on the market are complex, require an extensive amount of time and resources to implement, and a significant amount of change management to derive meaningful value. Lexion offers the opposite by delivering an intuitive system supported by a cutting-edge, AI-powered backend, that is simple enough for entire organizations to adopt, and takes just days to implement.
“In-house lawyers spend far too much time on mundane tasks like checking if an active NDA exists, or manually filling out spreadsheets to track key dates and non-standard terms in their contracts,” said Gaurav Oberoi, co-founder and CEO of Lexion. “What makes Lexion special, in this rapidly growing industry, is that it’s a…
