DocuSign today (6 May) announced that it has agreed to acquire AI-powered contract management software provider Lexion for $165m in cash, as DocuSign continues to strengthen its offerings in the contracts space. DocuSign in February launched DocuSign IAM (Intelligent Agreement Management) and it says the acquisition of Lexion will bolster this growing SaaS category.
Founded in 2019 at the Allen Institute for AI, Lexion simplifies and centralizes the contract process, enabling accelerated drafting, negotiation, and review of agreements. In April last year it raised a $20m Series B.
Allan Thygesen, chief executive officer at Docusign said of Lexion: “We share a vision of smarter agreement management and our joint AI-powered innovation will deliver increased value, productivity, and simplicity to our combined customers. This strategic acquisition underscores our commitment to providing our customers with Intelligent Agreement Management solutions that will transform agreement data into insights, accelerate contract reviews, and boost productivity to ultimately grow revenue faster.”
The co-founders of Lexion — CEO Gaurav Oberoi, CTO Emad Elwany, and principal architect James Baird — will join Docusign in senior roles within product and engineering: Oberoi will be a VP of product management, Elwany will be a VP of engineering, and Baird will be a principal engineer.
“Our shared vision with Docusign revolves around revolutionizing how agreements are created, managed, and analyzed for organizations around the world,” said Oberoi.
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