L

Lexion

www.lexion.ai link_icon

Company Research Report: Lexion



Company Overview


  • Name: Lexion

  • Mission: Helping in-house legal teams and operations departments streamline and accelerate contract workflows without adding to the headcount, ensuring business deals are closed faster and more efficiently.

  • Founded: 2019

  • Founders: Gaurav Oberoi (CEO), Emad Elwany (CTO), James Baird (Principal Architect)

  • Headquarters: No information is available

  • Number of Employees: No information is available

  • Revenue: Not specified.

  • Known For: Providing AI-powered contract management solutions that simplify and automate contracting processes for legal, sales, procurement, finance, HR, and IT departments.


Key People


  • CEO: Gaurav Oberoi

  • CTO: Emad Elwany

  • Chief Legal Officer: Jessica Nguyen

  • VP of Marketing: Jordan Greene

  • VP of Sales: Cassie Pless

  • VP of Finance: Craig Sadowski

  • Director of Product and Design: Chris Mathews

  • Director of Customer Success: Chase Kepler


Products



Workflow


  • Description: Simplifies and streamlines contract workflows for operations teams across an organization.

  • Key Features:

  • Central Dashboard: Manage all tasks in one place.

  • Easy Intake: Customizable intake forms.

  • Approval Capture: Request and manage approvals via email.

  • Draft Management: Retains deal history.


Repository


  • Description: AI-powered repository for centralized contract management.

  • Key Features:

  • Award Winning AI: Automates data extraction.

  • Intuitive Search: Fast and accurate search functionality.

  • Powerful Reporting: Generates automated reports.

  • Reminders and Alerts: Tracks key contract dates and obligations.


Integrations


  • Description: Seamlessly integrates with popular platforms to fit existing workflows.

  • Key Features:

  • Integration with Email, Slack, Salesforce, Microsoft Teams, HubSpot, and DocuSign.

  • Easy access controls and audit trails.


Security


  • Description: Enterprise-grade security to safeguard data.

  • Key Features:

  • SOC 2 Type II and ISO 27001 certified.

  • AES-256 encryption and TLS with 256-bit.


No-Code Workflow Automation


  • Description: Automates contract workflows for faster operations.

  • Key Features:

  • Easily build custom workflows.

  • Automate contract routing, approvals, and signature collection.


AI Contract Assist


  • Description: GPT-powered legal co-pilot for accelerating contract tasks.

  • Key Features:

  • Automates contract review and redlining.

  • Generates clause language suggestions.

  • Ensures consistency and manages risk compliance.


Easy Intake


  • Description: Simplifies task intake and management from familiar tools.

  • Key Features:

  • Supports intake via email and CRM.

  • Customizable forms.

  • Automated workflow assignments based on intake details.


Recent Developments



New Products


1. Lexion AI Contract Assist:
  • GPT-powered tool to assist in contract review and negotiation.

  • Provides AI-generated recommendations for contract revisions.

  • Accelerates the contract review process.


Partnerships


  • DocuSign Acquisition:

  • Lexion was acquired by DocuSign for $165 million in cash.

  • The acquisition aims to bolster DocuSign’s Intelligent Agreement Management (IAM) offerings.

  • Lexion’s technology will continue to improve for its existing customers, integrated with DocuSign’s platform.


Feature Enhancements


  • Enhanced Reporting Capabilities:

  • New features in the AI Repository for better contract insights and analysis.

  • Advanced tools to track key dates and terms automatically.


  • Integrated Workflows:

  • Better integration capabilities with Microsoft Word, allowing AI-powered contract analysis directly within Word documents.


  • Simplified Automation:

  • Improvements in no-code automation, allowing users to build and customize workflows without needing extensive training or IT support.


Customer Testimonials


  • Efficiency and Impact:

  • Gregg Goldstein, General Counsel, Cart.com: Praised Lexion for making the contract review process smoother.

  • Natasha Giuffre, CLO and General Counsel, Thentia Cloud: Highlighted easy adoption and efficiency in collaboration.

  • David Prado, Associate General Counsel, D4C Dental Brands: Noted increased workload management without expanding the legal team.

  • Lauren McHugh, Associate Contracts Manager, Lacework: Emphasized improvements in speed and transparency.

  • Michael Leman, VP, Deputy General Counsel, FOX Factory: Appreciated the centralized management and ease of the contract review process.


Featured In


  • Legal and AI Publications: Recognized by publications such as Legal Dive, LawSites, Geekwire, Fast Company for its innovative AI approaches in legal technology.


Conclusion


Lexion has positioned itself as a key player in the legal and operations technology space, providing AI-driven solutions to streamline contract management. With strategic acquisitions and continuous product innovations, it is well-equipped to address the evolving needs of its customers.