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On-line authorized market Lexoo has been acquired by different authorized providers supplier Kalexius, with Lexoo’s founders Daniel van Binsbergen and Chris O’Sullivan now trying in direction of their subsequent alternative within the authorized tech house. The quantity of the acquisition has not been disclosed.
Lexoo prior to now few years has raised over $6m, together with $4.4m in a Sequence A in 2018 led by enterprise capital agency Earlybird, with extra funding from Ahead Companions and Zoopla’s then normal counsel Ned Staple.
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In a LinkedIn submit right this moment (22 March) van Binsbergen stated:
“Chris O’Sullivan and I began Lexoo again in 2014 as a authorized market, however the journey was by no means a straight path. Over these years we encountered a lot of highs and lows: funding rounds, pivots, cutting down after which scaling up once more.
“The merger with Kalexius marks an thrilling new time for Lexoo. A chance to amplify our influence and additional prolong our attain globally.
“I need to sincerely thank all our traders who supported us, in addition to the 100+ ‘Lexooligans’ who’ve been on this loopy journey with us through the years (too many to individually shoutout!). It’s been such a privilege working alongside you.
“As Lexoo and the staff embark on this new journey, it’s additionally time for Chris and I to mirror and take a breather to plan our subsequent enterprise.
“We’re extraordinarily passionate in regards to the potential of authorized tech to unencumber legal professionals to do their greatest work. So we’re very excited to remain within the house and begin a Authorized AI firm. Keep tuned!”
In a press release on LinkedIn, Kalexius Founder and CEO Nicolas Leroux stated:
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“This can be a very thrilling time for Kalexius and Lexoo. Workloads throughout in-house authorized departments are heavier than ever and legal professionals are anxious to seek out efficient options to streamline their work. The continued rise in demand for CLM providers is a transparent signal that ALSPs are not a fringe ingredient of the authorized sector however a well-established and important associate for in-house authorized departments and regulation companies.
“We’re thrilled to welcome the Lexoo staff within the Kalexius group and we stay up for a easy and productive transition over the subsequent few months.”
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