Lexion is an AI-powered contract administration system with a singular pedigree, having emerged out of the Allen Institute for AI, the AI analysis institute created by Microsoft cofounder Paul Allen, and having obtained backing from buyers reminiscent of Khosla Ventures, a Silicon Valley agency whose portfolio contains corporations reminiscent of OpenAi; Madrona Enterprise Group, which helped launch Amazon; and Wilson Sonsini, the legislation agency identified not just for representing tech pioneers, but additionally for its personal tech initiatives. Now Lexion has simply raised another $20 million in a Collection B spherical led by Point72 Ventures, with these prior buyers once more collaborating.
The corporate, says its cofounder and CEO Gaurav Oberoi, is on a mission to make use of AI to assist company operations groups and authorized departments shut offers quicker by accelerating enterprise contracting throughout gross sales, procurement, authorized, HR, safety, and extra. His resume contains having been a product supervisor, engineer, and founder for over a decade, and, earlier than Lexion, he began and offered two software program startups, BillMonk and Precision Polling, and based a big enterprise unit at SurveyMonkey.
Gaurav joins me to debate the corporate’s founding and progress, its newest fundraising spherical, and his ideas on the contracts market total and the affect that new generations of AI may have on its future improvement.
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