Legal Research, Drafting Startup Alexi Raises $11 Million in Series A Funding
Alexi said it will use the investment to grow its staff and continue building new products for the law firm market.
June 10, 2024 at 02:50 PM
2 minute read
Legal Technology
On Monday, Canadian legal tech startup Alexi, which offers generative artificial intelligence-powered legal research and drafting tools, announced that it raised $11 million ($15 million CAD) in a series A funding round led by venture capital firm Drive Capital and including existing investor Draper Associates.
Founded in 2017, Alexi, formerly known as Alexsei, leverages generative AI models, including OpenAI's GPT models, to help legal professionals automate a number of tasks. While the startup first focused on drafting research memos for users based on their questions, it has since expanded to offer an AI-powered litigation assistant called Alexi Chat and a tool that uses AI to help lawyers brainstorm legal arguments for desired outcomes called "Arguments."
In a news release announcing the funding, Alexi noted that it will use the investment to grow its staff and continue building new products for the law firm market.
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