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As DocuSignreportedlyexplores a sale to private equity , it ’s take on a caller itself .
On Monday , DocuSignannounced that it ’s buyingLexion , a contract bridge work flow mechanisation startup , for $ 165 million . The purchase comes as DocuSign makes increase investment in the contract bridge direction place , most late launchingDocuSign IAM , a service aimed at connecting different ingredient of the corporate agreement initiation and negotiation process .
Lexion was incubated at the Allen Institute for Artificial Intelligence ( AI2 ) , the AI - focalise research arm of the non-profit-making Allen Institute . Gaurav Oberoi founded the ship’s company together with former Microsoft inquiry software development engine room lead Emad Elwany and engineering veteran James Baird ; Oberoi previously co - founded survey platform Precision Polling , which SurveyMonkey acquired shortly after it found .
Lexion began as a “ smart ” repository for contracts , permit sound teams ask raw language questions about documents . But it easy expanded with putz to address various employment case and challenge in document creation for squad across not only legal department , but sales , IT , HR and finance .
Lexion had evoke $ 35.2 million in speculation capital prior to the acquisition from investors admit Khosla Ventures , Madrona and Point72 Ventures .
According to DocuSign CEO Allan Thygesen , Lexion ’s technology will enable DocuSign customer to gain a “ more granular ” intellect of their contract structures and data , as well as skilful name insights and likely jeopardy . DocuSign will tap Lexion ’s AI models for contract world and negotiations , while Lexion will build integrations with DocuSign ’s product and solutions .
The purchase comes at a pivotal moment for DocuSign , treasure at about $ 12.5 billion , which is said to be in the cognitive process of selling itself to a secret equity firm . Perhaps in a bid to make its record book more attractive to suitors , DocuSign in February announced plans to lie off ~6 % of its workforce — some 400 line of work .
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Reuters account in January that Bain and Hellman & Friedman are among the final bidder in an vendue for DocuSign , which could be one of the biggest leverage buyouts in 2024 .
DocuSign ’s other acquisitions include SpringCM ( in July 2018 for $ 220 million ) , a cloud program for sale contract direction , and Seal Software ( in February 2020 for $ 188 million ) , a company specializing in AI - driven contract analytics .
