Lexterai Raises R16m To Bring Ai To Law Firms
- Lexter.ai, a legal tech startup, secured R$16 million in a Series A round led by Alexia Ventures.
- The company aims to bring AI to more law firms in Brazil through a freemium model.
- Lexter’s AI platform assists lawyers with due diligence, document drafting, and legal strategy.
Founded in 2020, Lexter.ai has been transforming its business model since the rise of generative AI. Initially offering basic AI for interpreting texts and classifying terms in contracts, the startup served major clients like Demarest, BMA Advogados, Cescon Barrieu, TozziniFreire, and Lobo De Rizzo for due diligence in mergers and acquisitions.
Over the past year, Lexter has combined its proprietary platform with large language models (LLMs) to tackle everyday problems faced by lawyers. The product, developed by a team of 35 tech professionals and lawyers, can read and write legal documents, provide legal reasoning for cases, and outline strategies for attorneys to follow.
CEO and co-founder Pedro Jahara emphasizes that the service aims to assist lawyers, not replace them. Lexter’s AI can boost productivity by up to 50% in tasks such as due diligence, initial petitions, and legal contestations. The goal is to provide a draft for lawyers to review and refine.
With the new funding, Lexter plans to add more features to ensure daily usage by lawyers. The startup targets small law firms with up to 10 professionals, offering a freemium model and plans starting at R$99. Lexter also aims to educate professionals about the benefits of adopting new technologies through an institute launch in May.
In 2023, Lexter’s revenue grew 300% compared to the previous year, and the company now projects a 9-fold increase. As AI continues to transform the legal industry, Lexter.ai is positioning itself to be at the forefront of this change in Brazil.
