Lexion was incubated at the Allen Institute for Artificial Intelligence (AI2). Gaurav Oberoi founded the company together with former Microsoft research software development engineering lead Emad Elwany and engineering veteran James Baird. Lexion helps legal teams track key obligations in their contracts automatically and without slow and expensive document review. The system is aimed at high-growth emerging companies, and established players that typically have dozens to thousands of customer, vendor, and employee agreements to manage, but often lack the resources to do so. Lexion’s platform can ingest all of a company’s contracts, automatically extract dozens of key terms, and deliver an organised repository of agreements that can be filtered, sorted, and searched across -- all in a matter of hours. The company’s proprietary natural language processing (NLP) engine can rapidly be trained to extract previously unseen clauses or new document types, ranging from insurance agreements to commercial real estate documents. In July 2019, the company raised a $4.2 million seed round led by Madrona Venture Group and law firm Wilson Sonsini Goodrich & Rosati.