AI contract review provider LegalOn has raised $50 million in Series E funding led by Goldman Sachs Growth Equity, with continued support from current investor World Innovation Lab (WiL) and new investors Mori Hamada, Mizuho Bank, and Shoko Chukin. This brings the company’s total funding to $200 million.
LegalOn also announced that it is collaborating with OpenAI to build cutting-edge agents grounded in LegalOn’s legal expertise and content.
LegalOn plans to expand in the US and UK, where its business has grown 4x over the past year. In Japan, where it was founded, it supports 25% of public companies.
“Legal teams are buried in time-consuming work that slows them and their businesses down,” said Daniel Lewis, global CEO of LegalOn, which is now headquartered in San Francisco. “This funding helps us build and scale AI that eliminates tedious contracting work, streamlining workflows and freeing people to think, decide and lead.”
LegalOn’s AI contract review tool identifies contract risks and suggests revisions based on attorney-built playbooks and each organization’s legal standards.
“By combining advanced AI with deep legal expertise, LegalOn is reinventing the contracting process and empowering legal departments to work faster and more strategically,” said Stephanie Hui, global co-head of growth equity at Goldman Sachs Alternatives. “As they rapidly gain traction across global markets, we believe LegalOn is uniquely positioned to define the future of AI-powered legal technology.”
The collaboration with OpenAI gives LegalOn access to its models, enabling faster product development. Engineers from both companies are collaborating to develop advanced legal AI agents.