Lexroom, a Milan-based startup, is expanding its AI platform for legal professionals with support from new and existing investors. A US-based VC firm has joined the board to guide the next stage of development.
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Milan-based Lexroom has raised $19M (nearly €16.20M) in a Series A funding round to expand its generative AI platform for the legal sector.
The round was led by Silicon Valley venture capital firm Base10 Partners, with participation from Spanish VC Acurio Ventures, View Different founded by Diego Piacentini, and Riccardo Zacconi, founder of King (Candy Crush). Piacentini will also serve as an advisor to the company.
Rexhi Dollaku, General Partner at Base10 Partners, says, “Lexroom is transforming one of the largest and most tradition-bound industries with a product that lawyers actually love using.”
“Paolo, Martina, and Andrea bring an impressive mix of deep legal expertise and product vision, and in just a short time have shown how AI can meaningfully change the way legal work gets done. We’re proud to be partnering with them as they set a new standard for AI in the legal sector.”
Paolo Fois, CEO and co-founder of Lexroom, adds, “The legal industry is undergoing a revolution. With this round, we will accelerate international growth and build the future of the legal profession with AI at its core.”
The investment also included contributions from several angel investors and confirmed continued backing from existing investors Entourage, Verve Ventures, and Joe Zadeh.
As per the deal, Rexhi Dollaku, General Partner at Base10 Partners, will join Lexroom’s board of directors. Dollaku has been a long-time investor and will support the Italian company’s next phase of expansion.
An advanced AI assistant for legal professionals
Lexroom was founded in 2023 by Paolo Fois, Martina Domenicali, and Andrea Lonza. The company develops an artificial intelligence platform designed for lawyers and corporate legal teams.
Its system supports activities such as legal research, drafting, and advisory work, using legal sources adapted to the requirements of different jurisdictions.
The platform is used both by law firms and by in-house legal departments. By applying generative AI, Lexroom automates and streamlines processes that range from gathering legal information to preparing documents.
The company has a team of 40 people and works with clients including Osborne Clarke, Fastweb, Satispay, and Mediolanum.
Six months after closing a €2M Seed round led by Entourage, Lexroom has doubled the size of its workforce and tripled its customer base. The company now reports positioning among the fastest-growing startups in Italy and Europe.
The recently announced Series A investment will proceed following Golden Power approval from the Italian government. This step is required for transactions in sectors considered strategic for national interests.
Brief about Base10 Partners
Base10 Partners was founded by Adeyemi Ajao and TJ Nahigian and is based in San Francisco. The VC firm invests in companies led by founders who integrate purpose into their business models and in businesses automating areas of the real economy.
Through its Advancement Initiative, Base10 commits 50 per cent of its profits to underfunded colleges and universities, directing resources toward financial aid and related programs.
The firm’s portfolio includes companies such as Notion, Figma, Nubank, Stripe, Popmenu, Aurora Solar, and Chili Piper.
