Chile-Based Magnar Announces $8 Million Series A

Gunderson Dettmer represented Chile-based Magnar, a legal AI startup, in its $8 million Series A financing. The round was led by 6 Degrees Capital and co-led by Hi Ventures, with additional participation from FEN Ventures, Platanus Ventures, Nascent Ventures, Chilean law firm Carey, and Argentinian law firm Beccar Varela.

Magnar's platform is designed to help users conduct legal research, draft documents, and manage contract lifecycles and document workflows. The company will use the new capital to deepen its presence in Brazil and Mexico by expanding its local legal databases, engineering capabilities, and on-the-ground commercial and support teams.

Magnar co-founder and CEO Andrés Arellano told Law.com that the Latin American legal market has long been underserved, noting that software built outside the region wasn't designed for local legal systems and that local entrants lacked the resources to fill the gaps. He added, “We are playing local here, and so we have this leverage not only on the [legal] database, ... but also all these many features that make the product different to work here in Latin America than in in other regions.”

The Gunderson deal team was led by Brad Krack and Eduardo Espinosa de los Monteros Pereda and included Paulina Muñoz.