Magnar raises US$ 8 to accelerate its growth in Latin America’s legal market

Magnar is expanding across Latin America after raising a new investment round that will enable it to strengthen its artificial intelligence platform for lawyers, grow its team, and continue developing tools tailored to the region’s legal work.

Just over a year after launching, Magnar already has nearly 30 thousand users and 350 law firms working with its platform. The company now plans to use this investment to improve its product in the markets where it already operates and prepare to enter Brazil and Mexico.

Artificial intelligence designed for legal work

Magnar’s starting point is a familiar reality for lawyers: practicing law involves research, reviewing large amounts of information, drafting documents, and reviewing the work again.

In response, the platform brings legal research, analysis of large volumes of information, and document drafting and review together in one place. Magnar also integrates with tools that are already part of lawyers’ daily work, such as Word and Outlook.

The platform is also built with the legal particularities of each market in mind. To this end, Magnar works with its own databases of legislation and case law.

Users can open and review the references the platform uses to analyze information and reach their own conclusions.

“We provide the technology; the judgment and legal decisions are still yours.”

Magnar currently operates in Chile, Peru, Colombia, Argentina, Ecuador, Costa Rica, and Uruguay.

The investment aims to strengthen existing markets

One of the main goals of the new round is to continue improving Magnar for the users and law firms already working with the platform.

In Chile, Peru, Colombia, and Argentina, the company aims to deepen its presence and work more closely with the law firms and legal departments that use Magnar. This work will also continue in Ecuador, Costa Rica, and Uruguay.

To do so, the company will expand its databases of legislation and case law, improve its research, analysis, and drafting tools, and continue adapting the platform to the specific ways of working in each country.

The investment is intended to turn these advances into tangible improvements for the users and law firms that have supported Magnar so far.

Magnar prepares to enter Brazil and Mexico

Expansion into new markets is also part of the company’s plans.

Magnar will launch in Brazil and Mexico, where it will have sales teams and its own offices. The two markets have nearly 1,9 million lawyers combined.

To enter these countries, the company is already building the legal information databases it needs to operate in markets with federal systems and greater legal complexity.

This process will require expanding the development team and continuing to work through the specific details of each legal system. Part of the company’s new investment will go toward this effort.

Who invested in Magnar?

The new round is led by 6 Degrees Capital, a British fund, alongside Hi Ventures, a Mexican fund, as co-lead. Also participating are FEN Ventures, Platanus Ventures and Nascent Ventures.

The company also continues to receive backing from well-known law firms in the region.

Beccar Varela, one of Argentina’s most well-known law firms, is now joining as an investor. With this investment, it joins the group of firms that have backed Magnar, following Carey in Chile.

For the company, having law firms with extensive experience in the legal sector become part of Magnar represents an endorsement of its technology and the work it is doing for lawyers across the region.

A new chapter for Magnar

With this round, Magnar aims to dedicate more resources and people to developing its platform, both to strengthen its presence in the markets where it already operates and to prepare for expansion into Brazil and Mexico.

The goal is to keep building a tool tailored to the codes, languages, legal systems, and working practices of lawyers in Latin America.

“We started Magnar with the lawyers of this region in mind—with their codes, languages, and ways of working. This round allows us to dedicate more people and resources to building a better platform for those who already trust us and to bring that work to more lawyers across Latin America.” Andrés Arellano, CEO of Magnar.