May 1, 2023
Lexion is an AI-powered contract management system with a unique pedigree, having emerged out of the Allen Institute for AI, the AI research institute created by Microsoft cofounder Paul Allen, and having received backing from investors such as Khosla Ventures, a Silicon Valley firm whose portfolio includes companies such as OpenAi; Madrona Venture Group, which helped launch Amazon; and Wilson Sonsini, the law firm known not only for representing tech pioneers, but also for its own tech initiatives. Now Lexion has just raised another $20 million in a Series B round led by Point72 Ventures, with those prior investors again participating.
The company, says its cofounder and CEO Gaurav Oberoi, is on a mission to use AI to help corporate operations teams and legal departments close deals faster by accelerating business contracting across sales, procurement, legal, HR, security, and more. His resume includes having been a product manager, engineer, and founder for over a decade, and, before Lexion, he started and sold two software startups, BillMonk and Precision Polling, and founded a large business unit at SurveyMonkey.
Gaurav joins host Bob Ambrogi to discuss the company’s founding and growth, its latest fundraising round, and his thoughts on the contracts market overall and the impact that new generations of AI will have on its future development.
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