Milan-based legaltech startup Lexroom.ai, an AI platform that streamlines legal research and document drafting, has raised €2 million in seed funding to expand its workforce.
- Founded in 2023 by Paolo Fois, Martina Domenicali, and Andrea Lonza, Lexroom.ai is an AI-powered platform that streamlines legal research and document drafting. It allows lawyers to ask questions in natural language and quickly receive high-quality drafts, summaries, and relevant sources.
- Lexroom.ai integrates seamlessly into daily workflows, saving time on repetitive tasks and allowing lawyers to focus on more strategic work. The platform currently supports Civil, Commercial, Privacy, Banking, and Labour Law, with plans for future expansion.
- According to the startup, Lexroom.ai helps legal professionals save an average of 73% of their time, with over 600 satisfied customers. It can generate a draft opinion in just 60 seconds.
Details of the deal
- The seed round was led by Entourage, a Ghent-based venture capital firm that invests in founders building high-growth B2B SaaS companies, with size tickets ranging between €300,000 and €2 million.
“The speed at which Lexroom is scaling and the product usage metrics are a testament to the urgent need for its solutions and the strength of its execution. We are thrilled to support Lexroom’s exponential growth and witness its transformative impact on the legal sector," claims Pieterjan Bouten, founder and GP at Entourage.
- The funding round also saw participation from Zurich-based VC Verve Ventures, Vento Ventures, Banyan Ventures, X-Equity, advised by FNDX VC and business angels, including Joe Zadeh, former VP of Product and Head of Experiences at Airbnb.
- Lexroom.ai plans to use the fresh €2 million in funding to enhance its AI capabilities, expand its customer base, and strengthen its presence in Southern Europe.
- The company also aims to scale its workforce to 35 employees by the end of the year, with over half of the new hires focused on product development.
