Lexroom buys Bulgaria's Praven Intelekt, its first CEE deal after $50M Series B
What's the deal? Italian legal AI scaleup Lexroom has fully acquired Praven Intelekt, a Sofia-based legal tech startup, giving it a first foothold in Central and Eastern Europe. The acquired platform serves more than 900 clients across Bulgaria, from solo lawyers to municipalities and in-house compliance teams.
The money behind it: Lexroom is buying from a position of strength. It raised a $50 million Series B in May 2026, led by Left Lane CapitalDealroom has a profile for this one. Try Dealroom → with Base10 PartnersDealroom has a profile for this one. Try Dealroom →, Eurazeo, Acurio Ventures, EntourageDealroom has a profile for this one. Try Dealroom →, and View DifferentDealroom has a profile for this one. Try Dealroom →, eight months after a $19 million Series A. That brings its total funding to $73 million.
The numbers: Lexroom now serves more than 20,000 customers and employs over 200 people. In summer 2026, it surpassed €20 million in annual recurring revenue, built on a platform trained on more than 13 million legal sources.
What Praven Intelekt built: Founded in Sofia in 2025 by Siyanna Lilova, Rangel Milushev, and Christian Tsanov, the five-person team built one of Bulgaria's first specialised AI platforms for legal professionals. It now counts more than 19,000 registered users and roughly 1,500 weekly professional users, grounded in a database of nearly 1.2 million Bulgarian and European legal documents from 18 official sources.
The key hire: Co-founder and chief executive officer Siyanna Lilova becomes Lexroom's new head of Central and Eastern Europe, a newly created role. She will lead the company's expansion in the region from its Bulgarian base.
Why local data matters: Praven Intelekt links each answer back to source documents so professionals can verify it. "Legal professionals needed AI built around the realities of local law, rather than a generic tool," Lilova said — an approach that mirrors Lexroom's own.
Why now? The Bulgarian deal is Lexroom's second acquisition disclosed in the third quarter of 2026, following French legaltech Query JuristeDealroom has a profile for this one. Try Dealroom →. Together they take the company's active markets to five across Europe, after earlier expansions into Germany and Spain.
The signal: Lexroom is betting that legal AI cannot scale by translation alone. "Every market requires local legal data, knowledge of the jurisdiction and an understanding of how professionals actually work," said co-founder and chief executive officer Paolo Fois — a strategy that turns local data moats into acquisition targets as European legal AI consolidates.
Read more: therecursive.com
Image credit: Janne Räkköläinen
