Seattle-based legal tech startup Lexion is planning to grow its workforce substantially in the next year. The company aims to increase its employee count from 45 to around 90-110 employees within that timeframe. However, co-founder and CEO Gaurav Oberoi has reiterated his commitment to maintaining the firm's lean culture despite this rapid expansion.
Founded in 2017, Lexion specializes in using artificial intelligence (AI) technology for contract management solutions. Their flagship product streamlines the process of managing contracts through automation and advanced analytics while reducing costs associated with manual labor.
"We are excited about our growth plans as we believe it will help us better serve our clients and continue developing innovative solutions," said Oberoi. "However, we also recognize the importance of preserving our culture of agility and responsiveness."
Oberoi acknowledged that striking a balance between expanding their team while preserving their unique corporate culture would be challenging but emphasized that they were taking proactive steps towards achieving both goals.
"We are being very intentional with each new hire by seeking individuals who share our values," he explained. "We're also investing heavily in training programs for existing employees so they can effectively integrate into leadership roles as needed."
In addition to increasing its workforce size, Lexion has ambitious plans for expanding its product reach over the next year. These include introducing new features tailored specifically towards small businesses and enterprises across various industries such as healthcare, finance, retail, manufacturing among others.
"Our mission is simple: provide powerful tools at a fraction of traditional legal software costs," stated Oberoi.
Dr. Marla Anderson, General Counsel at one of Lexion's clients', expressed her satisfaction with their services: "Lexion has revolutionized how my department manages contracts – everything from drafting agreements quickly based on templates stored within their platform or identifying potential risks during negotiations.”
The announcement comes amid growing interest surrounding AI-driven legal technology, with more law firms and corporate legal departments seeking ways to streamline their processes and reduce costs. Lexion's continued success is a testament to the increasing demand for these solutions.
As they embark on this next phase of growth, Lexion will undoubtedly face challenges in preserving its lean culture while expanding its workforce and product reach. However, under Oberoi's leadership and with the support of a dedicated team that shares his vision, there is no doubt that Lexion will continue to transform the legal technology landscape in innovative ways.