SEATTLE, November 17, 2021 – Lexion, an incredibly easy to use contract management system, today announced it has been selected as winner of the “LegalTech Startup of the Year” award in the second annual LegalTech Breakthrough Awards program conducted by LegalTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout legal technology companies, products and services around the globe.
Lexion is an easy to use contract lifecycle management system that enables legal teams to automate and centralize the entire contracting process. With email-driven workflows, it’s easy to get the whole company on board while keeping control of contract workflows in the hands of the legal team.
Lexion's AI-powered Repository organizes all contracts in one place and automatically tracks key terms, clauses , and dates so multiple users can easily find the contract information they need. And, automated alerts and status updates help legal teams be more proactive with key dates like expirations and renewals.
“This award from LegalTech Breakthrough means so much. It validates our belief that, simply put, Lexion is a solution that just works. We’re on a mission to make the lives of legal teams easier so they can focus on more strategic work,“ said Gaurav Oberoi, co-founder and CEO of Lexion. “Motivated by using natural language processing to eliminate tedious work, we immediately knew the value of automatically extracting key details from contracts. This frees legal teams from tasks like filing contracts and manual reporting, so they can focus on growing the business and providing strategic advice.”
The mission of the annual LegalTech Breakthrough Awards program is to conduct the industry’s most comprehensive analysis and evaluation of the top technology companies, solutions and products in the legal technology industry today. This year’s program attracted more than 1,300 nominations from over 12 different countries throughout the world.
“Storing contracts in file folders, manually tracking data in spreadsheets, and highlighting renewals and expirations on a calendar just can’t scale. High performance teams need solutions that simplify reporting and automate filing in order to aid Legal teams working with other departments on contracting,” said Bryan Vaughn, Managing Director of LegalTech Breakthrough Awards.
“Congratulations to Lexion - our 2021 ‘LegalTech Startup Of the Year.’ Lexion addresses the problems resulting from not having an organized contract workflow and repository that includes all of your contracts and its metadata tracked. This drives revenue and allows for timely renewal discussions with key partners and clients while freeing up internal legal resources to focus their efforts on closing deals.”
Brands like Outreach, OfferUp, Blue Nile, and more trust Lexion to manage their contracts.
Lexion is an incredibly easy to use contract management system, powered by AI. We’re on a mission to make legal teams highly productive and happy, by accelerating contract review and eliminating busywork through automation and AI. We use best in class natural language processing technologies to make it 100x easier for legal teams to find what’s in their contracts and automatically stay organized. Best of all, Lexion’s email-centric approach, and legacy contract onboarding, makes implementation and adoption easy. We built Lexion at Microsoft co-founder Paul Allen’s artificial intelligence research institute (AI2) and are backed by the same investors that funded OpenAI (Khosla Ventures), helped launch Amazon (Madrona Venture Group), and have advised Google (Wilson Sonsini). With a top notch and experienced team from Microsoft, Facebook, Google, and Amazon, we built a company that CB Insights ranked the #1 most promising AI legal tech startup in the world two years in a row (2020, 2021). Most importantly, fantastic brands trust Lexion to manage their contracts: Outreach, OfferUp, Blue Nile, and many more. Visit https://lexion.ai for more.
About LegalTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the LegalTech Breakthrough Awards program is devoted to honoring excellence in legal technologies, services, companies and products. The LegalTech Breakthrough Awards program provides a forum for public recognition around the achievements of LegalTech companies and solutions in categories including Case Management, Client Relations, Data and Analytics, Documentation, Legal Education, Practice Management, eDiscovery and more. For more information visit LegalTechBreakthrough.com