For the second year in a row, CB Insights named Lexion to the fifth annual AI 100 ranking, showcasing the 100 most promising private artificial intelligence companies in the world. Notably, Lexion is the only US company recognized in the legal category.
“This is the fifth year CB Insights has recognized the most promising private artificial intelligence companies with the AI 100, and this is one of the most global groups we’ve ever seen. This year’s cohort spans 18 industries, and is working on everything from climate risk to accelerating drug R&D,” said CB Insights CEO Anand Sanwal. “Last year’s AI 100 companies had a remarkable run after being named to the list, with more than 50% going on to raise additional financing (totaling $5.2B), including 16 $100 million+ mega-rounds. Many also went on to exit via M&A, SPAC or IPO. As industry after industry adopts AI, we expect this year’s class will see similar levels of interest from investors, acquirers and customers.”
“Our cutting-edge AI allows us to simplify the lives of in-house lawyers by removing time consuming and mind numbing tasks”, said Lexion CEO Gaurav Oberoi. “Instead of reading through thousands of contracts to report on financial, compliance, or business terms, our AI helps lawyers answer questions in minutes.”
“We’re thrilled to be recognized two years in a row by CB Insights for our cutting-edge AI, it’s a continued validation that the right application of AI in a business setting is a huge value add for the market.”
Through an evidence-based approach, the CB Insights research team selected the AI 100 from a pool of over 6,000 companies based on several factors including patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
Quick facts on the 2021 AI 100:
- Equity funding and deals: Since 2010, the AI 100 2021 cohort has raised over $11.7B in equity funding across 370+ deals from more than 700 investors.
- 12 unicorns: Companies with $1B+ valuations on the list span applications as varied as data annotation, cybersecurity, sales & CRM platforms, and enterprise search.
- Geographic distribution: 64% of the selected companies are headquartered in the US. Eight of the winners are based in the UK, followed by six each in China and Israel, and five in Canada. Other countries represented in this year’s list include Japan, Denmark, Czech Republic, France, Poland, Germany, and South Korea.
About CB Insights
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