Italian legaltech scaleup Lexroom.ai has raised €2 million in seed funding to accelerate its growth.
The financing round follows a €500,000 Pre-Seed capital injection after less than a year.
Founded in May 2023 by Paolo Fois, Martina Domenicali, and Andrea Lonza within the venture builder framework of Vento Ventures, Lexroom.ai is an AI-driven legal research platform that lets users pose legal questions in natural language and receive swift, accurate answers.
Results are presented as actionable responses or draft opinions, complete with citations and relevant sources.
It streamlines every stage of legal operations: from high-precision legal research and document analysis to automated drafting of legal briefs, contracts, and other documents.
The company has partnered with top-tier law firms such as Gatti Pavesi Bianchi Ludovici for corporate law, Ichino Brugnatelli & Associati for labor law, and WST Law & Tax Firm for tax law.
Since its launch, Lexroom.ai has scaled to about 1,500 professional users, including single legal practitioners and law firms, the large majority of which log in daily.
With a lean team of 15 skilled employees, it's rapidly reaching approximately €1 million in annual recurring revenue (ARR).
Belgian B2B SaaS investment firm Entourage led the investment, which included Verve Ventures, Vento Ventures, Banyan Ventures, and X-Equity advised by FNDX, and angel investors such as Joe Zadeh, former VP of Product and Head of Experiences at Airbnb.
According to Pieterjan Bouten, founder and GP at Entourage:
“Lexroom.ai is addressing a critical pain point for lawyers, rapidly becoming an indispensable tool for legal professionals.
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.”
“Since our journey began at Vento Ventures' venture originator in 2023, our vision has been to empower legal professionals by optimizing their most valuable resource: time,” commented Paolo Fois, Co-Founder and CEO of Lexroom.ai.
“The arrival of investors like Entourage and Verve Ventures will allow us to grow our team and continue our dedication to service all professionals in the highly fragmented legal services market, aiming to become the go-to AI platform for law firms of all sizes.”
With the fresh capital injection, Lexroom.ai plans to double down on equipping all law firms with its product, including single professionals in the “long tail” of the market. The startup plans to expand its team to 35 employees by year-end with more than 50 per cent dedicated to product-related roles.
Lead image: Lexroom. Photo: uncredited.
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