– DocuSign is acquiring contract workflow automation startup Lexion for $165 million
– Lexion was incubated at the Allen Institute for Artificial Intelligence and had raised $35.2 million in venture capital
– The acquisition of Lexion will allow DocuSign to offer customers better insights and risk identification through AI technology
DocuSign is making waves in the contract management space by purchasing Lexion, a contract workflow automation startup, for $165 million. This acquisition comes as DocuSign continues to invest in improving the corporate agreement creation and negotiation process, with the recent launch of DocuSign IAM. Lexion, incubated at the Allen Institute for Artificial Intelligence, was founded by a team with experience in engineering and software development, and had previously raised $35.2 million in venture capital funding.
DocuSign CEO Allan Thygesen believes that Lexion’s technology will provide customers with a deeper understanding of their contract structures and data, helping to identify insights and potential risks. The acquisition will allow DocuSign to leverage Lexion’s AI models for contract creation and negotiations, while Lexion will work on integrating its tools with DocuSign’s products and solutions. This move comes at a time when DocuSign is reportedly exploring a sale to a private equity firm, with Bain and Hellman & Friedman among the final bidders in an auction for the company.
In addition to the Lexion acquisition, DocuSign has previously acquired companies like SpringCM and Seal Software to enhance its offerings in contract management and AI-driven contract analytics. With a valuation of about $12.5 billion, DocuSign’s strategic acquisitions and focus on improving the contract management process demonstrate its commitment to innovation and growth in the industry.