Online legal marketplace Lexoo has been acquired by alternative legal services provider Kalexius, with Lexoo’s founders Daniel van Binsbergen and Chris O’Sullivan now looking towards their next opportunity in the legal tech space. The amount of the acquisition has not been disclosed.
Lexoo in the past few years has raised over $6m, including $4.4m in a Series A in 2018 led by venture capital firm Earlybird, with additional funding from Forward Partners and Zoopla’s then general counsel Ned Staple.
In a LinkedIn post today (22 March) van Binsbergen said:
“Chris O’Sullivan and I started Lexoo back in 2014 as a legal marketplace, but the journey was never a straight path. Over those years we encountered lots of highs and lows: investment rounds, pivots, scaling down and then scaling up again.
“The merger with Kalexius marks an exciting new time for Lexoo. An opportunity to amplify our impact and further extend our reach globally.
“I want to sincerely thank all our investors who supported us, as well as the 100+ ‘Lexooligans’ who have been on this crazy journey with us over the years (too many to individually shoutout!). It’s been such a privilege working alongside you.
“As Lexoo and the team embark on this new adventure, it’s also time for Chris and I to reflect and take a breather to plan our next venture.
“We are extremely passionate about the potential of legal tech to free up lawyers to do their best work. So we’re very excited to stay in the space and start a Legal AI company. Stay tuned!”
In a statement on LinkedIn, Kalexius Founder and CEO Nicolas Leroux said:
“This is a very exciting time for Kalexius and Lexoo. Workloads across in-house legal departments are heavier than ever and lawyers are anxious to find effective solutions to streamline their work. The ongoing rise in demand for CLM services is a clear sign that ALSPs are no longer a fringe element of the legal sector but a well-established and essential partner for in-house legal departments and law firms.
“We are thrilled to welcome the Lexoo team in the Kalexius group and we look forward to a smooth and productive transition over the next few months.”