Magnar Raises $8 Million to Expand Legal AI in Brazil and Mexico
Magnar raised an $8 million Series A to expand its legal AI platform, the company stated in an announcement. The round was led by 6 Degrees Capital, with Hi Ventures as co lead.
FEN Ventures, Platanus Ventures and Nascent Ventures also participated. Argentine law firm Beccar Varela joined as an investor, while Chilean law firm Carey continued its backing.
Magnar plans to open offices and build commercial teams in Brazil and Mexico. It will also expand its legal databases and research, analysis and drafting tools across its existing markets in Chile, Peru, Colombia, Argentina, Ecuador, Costa Rica and Uruguay. The company says nearly 30,000 users and 350 law firms use its platform.
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