Docusign acquires AI-powered agreement management company Lexion for $165 million

In a move to enhance its position in the growing field of Intelligent Agreement Management (IAM), Docusign has announced its agreement to acquire Lexion, an AI-powered agreement management company, for $165 million in cash. The acquisition aims to bring more robust AI capabilities to the Docusign IAM platform and further solidify its presence in the SaaS industry.

“Allan Thygesen, Chief Executive Officer at Docusign, expressed his enthusiasm for the acquisition, stating, “We are thrilled to welcome Lexion to Docusign. We share a vision of smarter agreement management, and our joint AI-powered innovation will deliver increased value, productivity, and simplicity to our combined customers.” Thygesen emphasized the strategic importance of the acquisition, highlighting Docusign’s commitment to providing customers with Intelligent Agreement Management solutions that transform agreement data into insights, accelerate contract reviews, and boost productivity to drive revenue growth faster.

Prior to the acquisition, Lexion had raised $35.2 million in venture capital from investors including Khosla Ventures, Madrona, and Point72 Ventures. Founded in 2019, Lexion has quickly established itself as a simple agreement workflow platform. Its products streamline and centralize the contracting process by integrating with how teams work, providing AI-powered tools for creating automated workflows and extracting valuable information to enable businesses to move faster, gain greater insights, and make better decisions.

The co-founders of Lexion — CEO Gaurav Oberoi, CTO Emad Elwany, and Principal Architect James Baird — will play key roles within Docusign’s product and engineering teams. Oberoi will serve as a VP of Product Management, Elwany as a VP of Engineering, and Baird as a Principal Engineer. With their extensive expertise in AI and contract management, the co-founders bring valuable insights and experience to Docusign. Additionally, Lexion brings a team of world-class AI engineers with backgrounds at tech giants like Amazon, Google, Meta, and Microsoft, further enhancing Docusign’s capabilities in this space.

Gaurav Oberoi, CEO of Lexion, echoed Thygesen’s sentiments, stating, “Our shared vision with Docusign revolves around revolutionizing how agreements are created, managed, and analyzed for organizations around the world.” He emphasized their commitment to driving innovation and delivering greater value to both Docusign and Lexion customers.

The acquisition of Lexion marks another strategic move for Docusign in its quest to expand its offerings and capabilities in the agreement management space. With previous acquisitions including SpringCM in 2018 for $220 million and Seal Software in 2020 for $188 million, Docusign continues to solidify its position as a leader in the industry, offering comprehensive solutions for businesses of all sizes.