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Brazilian legal technology startup Enter has reached a valuation of $1.2 billion following a $100 million funding round, underscoring growing investor interest in artificial intelligence applications within complex, high-volume legal systems.
The round was led by Founders Fund, with participation from Sequoia Capital and Ribbit Capital. The deal positions Enter among a new wave of AI-driven companies achieving unicorn status by targeting operational inefficiencies in regulated industries.
Founded in 2023 by Mateus Costa-Ribeiro, Michael Mac-Vicar, and Henrique Vaz—former executives at Wildlife Studios—the São Paulo-based company focuses on automating litigation processes from end to end.
According to CEO Mateus Costa-Ribeiro, the platform deploys AI agents across every stage of a legal case before human intervention is required. “Each step you can imagine in a legal proceeding is first handled by an AI agent before involving a human,” he said in an interview with Bloomberg.
Enter’s platform is designed to handle Brazil’s high volume of consumer and labor-related lawsuits, offering capabilities that include drafting legal documents, estimating settlement costs, and retrieving contextual data—such as weather conditions relevant to specific disputes.
The company also integrates its systems directly into clients’ legacy infrastructure, often characterized by fragmented or outdated architectures.
Enter serves a growing roster of major corporate clients, including Airbnb, Azul, Bradesco, LATAM Airlines, Mercado Livre, and Nubank.
The startup currently manages more than 300,000 legal cases annually and works with over 45 corporate clients, many operating in heavily regulated sectors such as banking and aviation.
Its revenue model combines upfront technology fees with performance-based compensation, with approximately 30% of revenues tied to successful case outcomes.
Enter’s rise comes amid intensifying competition in the legal AI space, where startups such as Harvey and Legora have also reached billion-dollar valuations.
At the same time, AI developers like Anthropic PBC are expanding into enterprise legal solutions, signaling increasing convergence between foundational AI models and industry-specific applications.
Investors are betting on Enter’s ability to scale across Brazil and broader Latin America, regions characterized by high litigation volumes and structural inefficiencies in legal systems.
Matias Van Thienen, partner at Founders Fund, highlighted the strategic rationale behind the investment, pointing to the scale of opportunity in one of the world’s most litigation-heavy markets.
As regulatory complexity and case volumes continue to rise, AI-driven automation is emerging as a critical tool for companies seeking to manage legal risk and reduce operational costs—positioning platforms like Enter at the forefront of a rapidly evolving segment.
