Lexroom completes Series B round at $50mn

Lexroom, a LegalTech company based in Italy, has raised USD 50mn for its Series B round led by Left Lane Capital with participation from Base10 Partners, Eurazeo, Acurio Ventures and existing investors. According to our proprietary data, LegalTech continues to be one of the most heavily invested sectors when it comes to AI workflows, given its complexity and large volumes of unstructured data. Furthermore, news reports often concentrate on AI-generated hallucinations where invented citations, non-existent precedents and other factors have led to general distrust.

According to Lexroom, the company is able to solve these issues by being data-first – relying on a proprietary infrastructure of over six million verified legal sources that encompass legislation, case law and regulatory materials.

The company will use the funds to expand its model across civil law in Europe, starting with Spain and Germany.

Lexroom has raised over USD 73mn to date and has closed this round eight months after a USD 19mn Series A round.