Docusign agrees to acquire Lexion for $165m in cash, subject to customary adjustments. Lexion’s powerfully simple agreement workflow platform has helped companies by using AI to streamline and centralize the contracting process. Lexion customers include in-house legal teams and users across sales, procurement, finance, marketing, HR, and more.
Lexion provides targeted AI capabilities and experiences that will help Docusign accelerate their Intelligent Agreement Management vision. This includes bringing advanced document understanding capabilities, including contract reviews, negotiation, a Q&A experience, and more:
Richer insights and analysis: Docusign will be able to unlock customer insight to more critical information in their agreements to support day-to-day operations, answer relevant questions, and identify risks. Lexion technology will accelerate the pace of customers gaining a more granular understanding of their agreement structure, data, and attributes for a wider variety of contracts with better precision.
Lexion AI Contract Assist: This Word plug-in will substantially accelerate and intelligently assist in the contract review and negotiation process. Teams will be able to automatically review contracts for deviations and potential areas of risk from both first and third-parties. Where agreements don’t align to company standards or customized playbooks, the tool provides suggested revisions with AI-generated recommendations.
Answer agreement questions effortlessly: Lastly, Lexion technology will enable users to more seamlessly find information in their agreements, via the Q&A experience. Imagine being able to simply ask whether a contract includes an indemnification or warranty clause and have your question answered instantly, without scrolling through the whole document.
Seamlessly manage intake: Lexion’s technology allows users to initiate tasks, provide approvals, and add comments simply via email, Microsoft Teams, or Slack. This seamless integration results in high adoption by the business, and a robust picture of agreement-related tasks in one place.
Last month, Docusign announced a new category, Intelligent Agreement Management, and Docusign IAM, an AI-powered intelligent agreement management platform and new line-of-business applications to lead that category.
Lexion’s deep AI and legal workflow expertise, along with their world-class Docusign AI team and scalable agreement platform, will be instrumental in realizing this vision and driving rapid innovation on an even larger scale going forward, allowing us to serve more customer user cases, industries, and sub-industries — sooner.
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Customers today understand the potential of AI but many do not have the resources or knowledge to develop their own models in house. Docusign and Lexion customers will both benefit from the companies combining forces.
Leveraging the Lexion team’s innovative AI models and expertise, Docusign will develop new capabilities to speed up contact creation, enhance negotiations, provide strategic insights across all agreements, and drive process automation. Lexion customers will also be able to do even more with seamless and more extensible integrations with Docusign solutions.
Docusign and Lexion have a shared vision of helping customers create, commit to, and manage agreements more efficiently and intelligently. Ultimately, their joint innovation — powered by AI — will deliver more value to customers, boost productivity, and simplify people’s lives.
About Lexion
Lexion was founded by CEO Gaurav Oberoi, CTO Emad Elwany, and Principal Architect James Baird, who met at the Allen Institute for AI, a leading research lab created by late Microsoft co-founder Paul Allen. The Lexion co-founders will join Docusign within the product and engineering organizations: Oberoi will be a VP of Product Management, Elwany will be a VP of Engineering, and Baird will be a Principal Engineer.
About Docusign
Docusign’s products speed up business transactions and make life easier for over a billion people across 180 countries, with over 1.5 million clients. Docusign releases business-critical data that is locked up in papers by using intelligent agreement management. Businesses lost time, money, and opportunities since these were not integrated to business record systems up until this point.
