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Alexi Secures $11 Million USD Series A Funding to Accelerate AI-Powered Legal Technology Innovations

By Harry Moran |

Alexi (www.alexi.com), a Canadian legaltech company and leader in generative AI for legal research and litigation tasks, today announced an $11 million USD ($15 million CAD) Series A fundraise. The round is led by Drive Capital, with participation from existing investors including Draper Associates, and brings Alexi’s total funding to over $20 million. In addition to the raise, Chris Olsen, Partner at Drive Capital, will join the company’s Board of Directors.

This fresh instalment of capital comes less than a year after Alexi’s release of their Instant Memos, Arguments and Chat capabilities. The funding will immediately support hiring across engineering, product development, brand and design, legal, and business development teams to help Alexi continue to innovate and scale its technology. It will also enable Alexi to meet increasing demand from law firms to incorporate an array of AI-powered litigation tools into their businesses and accelerate upcoming releases across North America and other jurisdictions.

“We evaluate over 6,000 companies a year, most of which position themselves as an ‘AI company.’ Alexi is one of the very few examples, however, of using AI to solve a business problem,” said Chris Olsen, Co-Founder and Partner at Drive Capital. “Lawyers who use Alexi run more successful law practices. It is only a matter of time until attorneys all over the world are using Alexi to be better lawyers.”

Alexi is a pioneer in generative AI for litigation teams. Their platform enables legal professionals to generate high-quality legal memos, identify pertinent legal issues or arguments to achieve desired outcomes and perform AI-powered routine litigation tasks-all within a single platform. The company’s ultimate mission is to empower legal teams with artificial intelligence, breaking down barriers to knowledge and enabling justice for all.

“The rate of innovation happening at Alexi is truly astounding. Instead of trying to predict the future, we’re building it,” said Mark Doble, CEO of Alexi. “This capital further enables us to build incredible value into our products and empower our customers to better serve their clients.”

Alexi is experiencing impressive growth, with recent user activity increasing by 15-20% each month. Currently, thousands of litigators across the U.S. and Canada rely on Alexi.

About Alexi

Founded by Mark Doble and Sam Bhasin, Alexi’s proprietary AI-powered platform equips litigators with core legal skills. Designed to streamline the legal research process and assist with routine litigation tasks, Alexi saves time and enhances productivity for law firms. Committed to innovation and excellence, Alexi continues to lead the way in transforming access to legal knowledge. For more information, visit https://www.alexi.com or follow Alexi on LinkedIn.

About Drive Capital

Drive Capital is the most established venture capital firm at the intersection of industry and modern technology. Drive unlocks returns for limited partners by investing in market-defining companies anywhere in North America. Over the last decade, Drive grew to manage more than $2B in total assets. From insurance and manufacturing to energy, healthcare, finance and more, Drive’s portfolio is full of real businesses, including DuoLingo, UDACITY and KOHO, creating real value in the real world. The result is world-class returns from the greatest emerging market in the world – America. Drive is proudly headquartered in Columbus, Ohio – the geographic center of mass of Western GDP, but Drive also has boots on the ground in a dozen North American cities, with more to come.

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Harry Moran

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Announcements Commercial Fundraising

Deminor Raises EUR 100 Million to Support Global Growth

By Harry Moran |

Deminor, a leading global litigation funder, is pleased to announce the successful completion of a EUR 100 million funding round. The proceeds will be used to support the continued expansion of Deminor’s litigation portfolio across its three core regions: Continental Europe, the UK and Asia.

Next to this major funding milestone, Deminor has also achieved the “Certified B Corporation™” status, becoming the first litigation funder outside the US to do so. This certification highlights the company’s commitment to high standards of social and environmental performance, transparency, and accountability.

  1. Over the past few years, Deminor has significantly diversified its portfolio in terms of both claim types and geographic reach. Originally focused on securities actions for investors in Continental Europe, Deminor now finances a broad range of claims, including competition and antitrust cases, collective consumer actions and commercial litigation/arbitration throughout its three core regions: Continental Europe, the UK and Asia.

The firm currently funds 47 active cases and has funded a total of 85 cases across 23 jurisdictions. Notably, 78.8% of all concluded cases have resulted in positive outcomes for clients—reflecting Deminor’s disciplined case selection and prudent risk management approach.

Deminor also leverages a proprietary digital platform to deliver technology-driven solutions for managing mass claims in areas such as securities, antitrust, and consumer law.

  1. The latest investment round of EUR 100 million, comprising equity, senior and junior debt, and asset-backed financing, includes participation from a diverse group of investors. These include Contingency Capital LLC (New York), which provided a EUR 72 million (USD 80 million) secured credit facility to the company, alongside finance&invest.brussels SA (backed by the Brussels regional government and local financial institutions), Stalusa (a Belgian family office), and Saffelberg Investments (a Belgian private equity firm). Existing shareholders, including Deminor’s management team, also participated in the round.

Despite challenging market conditions and regulatory uncertainty in 2023 and 2024, the legal finance sector remains resilient and is expected to record strong growth in 2025 and beyond. Key drivers include growing market awareness, restricted corporate credit access, and a rising number of collective actions by both businesses and consumers.

  1. As the first litigation funder outside the USA to achieve B Corp certification, Deminor reaffirms its mission as a value-driven organization. High ethical standards have always guided its investment strategy, and the firm is proud to support claimants who might otherwise lack access to justice. Deminor believes this approach promotes a more balanced legal landscape and contributes to a fairer economy and society.

About Deminor: 

Founded in 1990, Deminor is a Band 1 Chambers & Partners international litigation funder with offices in Brussels, London, Hamburg, New York, Hong Kong, Madrid, Milan, Stockholm and Luxembourg. Deminor’s name, derived from the French ‘défense des minoritaires’, reflects its origins in providing services to minority shareholders. Deminor is still very much defined by the pursuit of good causes and its determination to restore justice for clients. 

Combining skill sets from 19 different nationalities and 22 languages, Deminor has actively supported cases in 23 different jurisdictions, including the Americas, the Middle East and offshore centres such as the Cayman Islands and Bermuda. 

In addition to funding one-to-one commercial claims, Deminor originates, syndicates and funds group actions. In 2018, Deminor was instrumental in securing the two largest securities settlements in Europe (EUR 1.4 bn in the Steinhoff case and EUR 1.3 bn in Fortis/Ageas).

Announcements Commercial Fundraising

Legora Attracts $80 Million Series B Funding

By Harry Moran |

Today, Legora announces an $80 million funding round led by ICONIQ and General Catalyst, with continued support from existing investors Redpoint Ventures, Benchmark, and Y Combinator. This latest round is a strong endorsement of Legora’s product quality, velocity and the remarkable traction it has achieved globally—underscored by its rapid progression from inception to Series B in under two years.

The deal comes as adoption of legal AI surges across the world. Legora is at the forefront of this shift - with lawyers across 250 firms and legal teams in 20 markets globally making daily use of its platform to review and research with precision, draft smarter, and collaborate seamlessly.

Legora operates out of New York, London, and Stockholm, with 100 employees drawn from some of the world’s leading global law firms and tech companies.

Max Junestrand, CEO and founder of Legora said: “The investment is a clear validation of the value our product is delivering to lawyers around the world. While we weren’t actively seeking funding, the strength of our growth, product, and client partnerships naturally attracted this backing, and I am ecstatic to have ICONIQ and General Catalyst with us on the journey as Seth and Jeannette join our board.

“This enables us to double down on what’s always set Legora apart — deep collaboration with our clients — and to scale innovation and accelerate product development, ensuring we leverage rapidly changing technology to meet the needs of the legal profession. We’re committed to building a product that not only solves today’s challenges but continues to adapt and deliver long-term value.”

Seth Pierrepont, General Partner at ICONIQ commented: “From our first conversation with Max and Sigge, it was immediately evident to us that they are building with rare clarity and velocity, creating a platform that doesn’t just fit into legal workflows — it elevates them, and understands the nuance and pace of modern legal teams. In just two years, they’ve delivered an enterprise-grade product that’s already trusted by hundreds of law firms and in-house legal teams globally. We’re proud to partner with Legora as they scale what we believe is a category-defining platform that’s reshaping how legal work gets done.”

Jeannette zu Fürstenberg, Managing Director and Head of Europe at General Catalyst said: “Legora is driving AI transformations in a highly specialized industry. With an outstanding product, rapid adoption by top-tier firms, and a founder who combines rare product instinct with exceptional execution, as we see it, Legora is redefining how legal work gets done. We’re excited to support Max and the team as they scale this category-defining platform.”

Legora’s collaborative approach to developing and embedding its AI underpins its success to date. More than just a platform, Legora is a true partner to clients, working alongside them from the first interaction to company-wide rollout and beyond. This ensures Legora’s solution is intuitively matched to client needs, and that engagement is broad and deep from day one; with the technology embraced by junior lawyers right up to managing partners across enterprises.

By building with lawyers, not just for them, Legora has accelerated adoption and delivered immediate value. Its AI platform is making a measurable impact at top law firms and in-house teams, powering multiple work-critical use cases and helping teams get to the heart of key issues in hours rather than days — enabling improved and more confident client responses with less write-offs.

Mary O’Carroll, Goodwin’s Chief Operating Officer commented: “Legora represents exactly the kind of strategic technology investment that keeps Goodwin at the forefront of legal excellence. We've been very pleased with the initial results we have seen since partnering with them in March, and we look forward to continuous improvement in how our lawyers use Legora to deliver legal services and insights to clients.”

Max Junestrand added: “AI, simply put, is a historic opportunity for legal professionals to get real leverage on their expertise and know-how. We have observed tasks such as reviewing data-rooms go from weeks to hours with no loss in accuracy - making human-machine intelligence and collaboration the de facto way of working. Both law firms and legal teams are already reaping the benefits of these advancements at scale.”

About Legora

Legora is the world’s first truly collaborative AI for lawyers serving over 250 law firms and in-house legal teams across 20 countries. Co-founded by CEO Max Junestrand and CTO Sigge Labor, Legora now has offices in New York, Stockholm and London and has raised $120M in funding to date. Legora works with prestigious clients such as Cleary Gottlieb, Goodwin and Bird & Bird - helping lawyers review, draft and work more effectively with AI. Legora.com

About ICONIQ

ICONIQ is a global investment firm catalyzing opportunity through extraordinary community. Our venture and growth investment platform partners with visionaries defining the future of their industries to achieve uncommon outcomes. Drawing on the wisdom and connectivity of our extraordinary community, we support our portfolio companies’ success at every inflection point, from early traction to IPO and beyond. Our robust portfolio includes Adyen, Airbnb, Alibaba, Alteryx, Automattic, BambooHR, Braze, Chime, Collibra, Coupa, Datadog, Docusign, Gitlab, Marqeta, Miro, Procore, Red Ventures, Relativity, ServiceTitan, Snowflake, Sprinklr, Truckstop, Uber, Wolt, and Zoom, among others. For more information, please visit www.iconiqcapital.com/growth.

About General Catalyst

General Catalyst is a global investment and transformation company that partners with the world’s most ambitious entrepreneurs to drive resilience and applied AI.

We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond.

With offices in San Francisco, New York City, Boston, Berlin, Bangalore, and London, we have supported the growth of 800+ businesses, including Airbnb, Anduril, Applied Intuition, Commure, Glean, Guild, Gusto, Helsing, Hubspot, Kayak, Livongo, Mistral, Ramp, Samsara, Snap, Stripe, Sword, and Zepto.

Announcements Commercial Deals

SIM IP Provides Funding and Strategic Advisory Services to Gene Pool to Drive Global Intellectual Property Monetization

By Harry Moran |

Sauvegarder Investment Management, Inc ("SIM IP"), a Miami-based firm focused on intellectual property-based financing, investment, and monetization, today announced it has entered into a funding and strategic advisory agreement with Gene Pool Technologies.

Gene Pool Technologies ("Gene Pool") focuses on the development, aggregation, and licensing of advanced extraction and processing technologies, with a particular emphasis on solutions applicable to the cannabis and hemp industries. Gene Pool's intellectual property portfolio broadly covers innovations in plant extraction methods, equipment, and systems that enhance quality, safety, and efficiency for producers and manufacturers.

"We believe that Gene Pool brings a disciplined, technology-focused process to intellectual property licensing that aligns with SIM IP's commitment to efficient and transparent value creation," said Jennifer Burdman, Managing Director at SIM IP. "We look forward to collaborating to provide inventors with stronger protection and improved monetization opportunities, while offering industry participants with streamlined access to critical technologies through clear and equitable licensing terms."

Erich Spangenberg, CEO of SIM IP, commented, "Gene Pool is leveraging two key services provided by SIM IP, which includes capital support through a corporate investment and unparalleled, strategic advisory expertise. Gene Pool strategically chose to leverage our capital for both litigation and the anticipated acquisition of additional intellectual property, as well as our extensive expertise in global intellectual property monetization to support execution and business strategy."

Gene Pool partners with innovators and technology owners to ensure their innovations are protected, compensated, and accessible to operators through operator-friendly, non-exclusive licensing agreements. Gene Pool's licensable portfolio includes  over fifty patent assets, with approximately half owned by Gene Pool and the rest being in-licensed from key market innovators.

"Gene Pool was seeking a strategic partner capable of providing capital and supporting the execution of our intellectual property monetization strategy across multiple jurisdictions, including the U.S. and Europe. We're pleased to have identified SIM IP as a partner and to have formalized our collaboration," said Travis Steffen, CEO of Gene Pool. "We met with numerous litigation funding firms; however, only SIM IP demonstrated strategic advisory service capabilities and meaningful experience in global enforcement strategies."

Over the last few years, Gene Pool secured significant legal victories against companies in the cannabis and hemp industries including defending key patent claims in three inter partes review proceedings before the U.S. Patent and Trademark Office; defeating invalidity, non-infringement, and illegality challenges against these claims in U.S. District Court; and most recently obtaining summary judgment from the same court that the Defendants infringed these claims.

About SIM IP
Sauvegarder Investment Management, Inc. ("SIM IP") is a Miami-based firm focused on intellectual property-based financing, investment and monetization opportunities. SIM IP invests across IP as an asset class and across jurisdictions, primarily focusing on the US, Europe, and Asia. Further information is available at www.simip.io. Follow us on LinkedIn, X (Twitter), and Instagram. 

About Gene Pool Technologies
At Gene Pool Technologies, we believe in industry solutions that recognize inventors, incentivize ongoing R&D, and enable operating companies with seamless access to technologies that will be critical to the long-term success of the Cannabis industry. Our team brings decades of experience across Cannabis and intellectual property and is deeply committed to the success of the industry and the innovation that will continue to drive quality, safety, and efficiency.