Italy’s leading legal AI company, Lexroom – which raised $50m in a Series B round this summer – has acquired French legal tech startup Query Juriste, and also Bulgarian Praven Intelekt, in its first ever inorganic deals.
Following its expansion into Germany and Spain, this move ‘marks a new phase in Lexroom’s European growth strategy, combining organic growth and M&A to scale its AI operating system across Civil Law markets, bringing its footprint to five European markets, including Italy,’ they said.
The founders and teams of both companies will join Lexroom and continue to develop their respective markets, while the Query Juriste and Praven Intelekt brands will gradually transition to Lexroom, they added.
Paolo Fois, co-founder and CEO of Lexroom, commented: ‘These acquisitions are a major milestone in our European expansion, and only the beginning. Over the past year we’ve met dozens of founders building toward a mission close to ours – Query Juriste and Praven Intelekt stood out immediately: exceptional teams, real traction, and products built with the same conviction we started Lexroom with.
‘It doesn’t make sense to reinvent the wheel market by market. When we find founders who’ve already built something great, the smartest move is to combine Lexroom’s technology, scale and capital with local expertise and hustle. That’s how you build the category-defining platform for legal AI in Europe.’
And as to Lexroom itself, the company said it has built its platform around a ‘proprietary infrastructure of certified legal sources, structured to deliver reliable, verifiable AI output across multiple jurisdictions’.
Hence, Query Juriste and Praven Intelekt extend this approach into two more EU markets, ‘adding local technology, expertise and established customer bases’, they concluded.
Query Juriste brings nearly 300 customers and around 1,000 paying users, together with a legal research platform connected to more than five million French and European legal documents. In Bulgaria, Praven Intelekt counts more than 900 customers, also with a connection to legal research data, and also provides drafting and other skils.
Looks like they are on their way to building a truly pan-European company.
Is this a big deal?
Yep. It’s quite rare for EU-based legal tech startups to go on an M&A binge. Legora – with its huge cash pile – has done several deals across Europe, and Noxtua from Germany has also expanded inorganically. But, such moves are usually the exception, not the rule.
Overall, Lexroom is sending out a very confident and ambitious message to the market. Congrats to them.
More about Lexroom here.
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