Alexi Secures CAD $4.5 Million Debt Facility to Accelerate Expansion and Innovation

The new financing, backed by TD Innovation Partners, is set to accelerate the company’s growth and expand Alexi’s suite of AI tools for legal professionals

TORONTO--(BUSINESS WIRE)--Alexi, the leading AI litigation platform, announced today a CAD $4.5 million debt facility from TD Innovation Partners (TDIP). Adding to its $15M Series A in 2024, led by Drive Capital, this new financing will fuel Alexi’s continued growth, drive product innovation, and continue their mission of providing the legal community with cutting-edge AI tools.

The debt facility comes on the heels of a record-breaking year for Alexi, which saw product use up 22x in 2024. The company recently launched two transformative products, Advanced Legal Reasoning (ALR) – a first-ever AI tool designed to elevate litigators’ capacity to analyze the full complexities of issues of any given litigation file, and Alexi Enterprise — a fully private, self-hosted AI solution designed to transform legal workflows for larger firms. These advancements reflect Alexi’s commitment to empowering lawyers with efficient, reliable, and scalable tools, streamlining workflows, and ensuring litigators maintain a competitive advantage in the fast-paced world of law.

“The launch of ALR and Alexi Enterprise has generated significant interest across the legal sector, showcasing litigators’ appetites for innovative, high-value AI solutions that drive efficiency and elevated client results,” said Mark Doble, Founder and CEO of Alexi. “This additional financing from TDIP underscores our record-breaking growth in 2024 and positions us to deliver even greater value to our customers, allowing litigators to stay ahead of the curve and meet the evolving needs of today’s clients and complex caseloads.”

“Securing this debt facility not only strengthens our balance sheet but also establishes a robust partnership with one of Canada’s leading financial institutions,“ said George Taleporos, VP of Finance at Alexi. “It ensures we have the resources to meet our ambitious growth goals and continue to innovate for our clients.”

“We’re thrilled to play a role in supporting Alexi's growth as they continue to deliver innovative solutions for the legal community,” said Mark Kiyonaga, Director, TD Innovation Partners. “Their commitment to product excellence, strong leadership team and their ability to deliver align well with our goal of supporting transformative companies that are changing the way industries operate.”

Alexi’s expansion plans for 2025 include deepening its product offerings, enhancing customer experiences, and scaling its reach across North America. The company remains steadfast in its mission to empower lawyers with the tools they need to succeed in an evolving legal landscape.

For more information on Alexi and its innovative legal AI solutions, visit alexi.com.

About Alexi

Alexi is the premier AI-powered litigation platform, providing legal teams with high-quality research memos, pinpointing crucial legal issues and arguments, and automating routine litigation tasks. Using proprietary AI technology, Alexi equips litigators with essential legal skills, allowing them to focus on strategy and high-value work. Founded by Mark Doble in 2017, Alexi is targeted at small, mid-sized, and large law firms. Alexi is trusted by clients such as McLeod Law, Oatley Vigmond LLP, and Stewart McKelvey. In 2018, Alexi was accepted into Techstars' AI accelerator program in Montreal, further propelling its growth.

About TD Innovation Partners

TD Innovation Partners (TDIP) is a division of The Toronto-Dominion Bank. TDIP is a new full-service team providing bespoke, high-touch banking and financing solutions in support of technology and innovation companies at all stages. TDIP offers a broad suite of services to address the unique challenges and opportunities faced by technology entrepreneurs from banking and lending products to principal investments and private banking solutions. For more information on TDIP, visit https://tdip.td.com/.