Enter bets AI wins Brazil's mass lawsuits: $35M A, then LatAm's first AI unicorn

Enter is a Brazilian legaltech whose AI agents analyze lawsuits, organize evidence, flag fraud and predatory claims, and draft legal answers for large companies — every step reviewed by human lawyers before filing.

That Brazil's mass-litigation burden makes large companies pay for AI agents that run legal strategy, priced partly on case outcomes.

Pre-seed angels (a little over $1M in the bank by early 2024, per the founder), then a $35M Series A at a $350M valuation in September 2025, then more than $100M Series B at a $1.2B valuation in May 2026

In September 2023, Mateus Costa-Ribeiro — by then Brazil's youngest lawyer, a Harvard LL.M. and New York bar holder who had argued before the Supreme Federal Court — dropped out of Stanford's MBA to found Enter with Michael Mac-Vicar (ex-CTO of Wildlife) and Henrique Vaz. The first product let users upload a complaint PDF and receive a suggested legal answer by email. Nine months later, with just over $1M in the bank and no enterprise client, the seven-person team shipped a pilot for a large Brazilian bank in a week.

Enter signed its fifth $500K+ ARR contract in November 2024, and by September 2025 said it had supported 250,000+ lawsuits and grown revenue 13x to R$50M ARR. That month Founders Fund and Sequoia co-led a $35M Series A at a $350M valuation — at the time the largest AI-native raise in Latin America. Seven months later Founders Fund led a $100M+ Series B at $1.2B with Ribbit Capital, Kaszek, Sequoia, ONEVC and Atlantico, making Enter Latin America's first AI unicorn and Brazil's first since QI Tech in April 2024.

Still live and scaling: as of September 2026 Enter reports 300,000+ cases processed a year, about 20 billion tokens a day, and 40+ enterprise clients including Nubank, Mercado Livre, Santander, Bradesco, LATAM and Azul. It is entering labor litigation with five clients, plans about 200 staff, and names a US expansion and possible IPO as next horizons.

The wedge was one acute pain: companies pay legal teams millions to draft answers in mass lawsuits, and Enter sold AI-structured inputs that cut that cost — with lawyers kept in the loop.

Outcome-based pricing (~30% of revenue tied to case success) aligned Enter with clients and made traction measurable, which is what convinced US funds to lead.

Brazil's overloaded courts are the stress test: software that works on the world's heaviest litigation docket has a natural story for expansion.

Founder-market fit: a lawyer who argued before Brazil's top court and quit Stanford knew both the legal buyer and the product better than a generic AI team.

A market others call too messy can be the moat: Enter priced partly on case outcomes, so every win on Brazil's hardest legal ground is proof that scales to any jurisdiction.

As of September 2026, Enter is scaling: it reports 300,000+ lawsuits supported per year, about 20 billion tokens daily, and 40+ enterprise clients including Nubank, Mercado Livre, Santander, Bradesco, LATAM and Azul. Revenue grew more than 10x since the Series A, and it has begun labor litigation with five clients. The Series B funds go to hiring (~80 engineers toward ~200 staff), R&D, and a CNJ agreement to build a historical database of court cases. A US expansion and possible IPO are on the horizon — the test of whether a legal AI built on Brazil's heaviest docket travels.