Enter Series A 2025: Founders Fund and Sequoia Back Brazilian AI Startup at R$2B Valuation

Enter Series A 2025 Overview

Enter Series A 2025 has become a defining moment for Latin America’s venture capital and AI ecosystem. The São Paulo–based legal-tech startup raised $35 million (R$200 million) in a round co-led by Founders Fund and Sequoia Capital, valuing the company at R$2 billion ($350 million).

This is the largest funding round yet for a native artificial intelligence startup in Brazil and the first joint bet by Sequoia and Founders Fund in the country since their early stake in Nubank. Local funds ONEVC and Atlantico also participated, reinforcing their positions.

Founded in 2023, Enter is led by Mateus Costa-Ribeiro (CEO), Michael Mac-Vicar (CTO), and Henrique Vaz (CPO). The trio brings together a rare mix of backgrounds: Costa-Ribeiro, a lawyer with a Harvard LL.M. and New York Bar credentials, made history as the youngest (18y) attorney to argue before the Brazilian Supreme Court; Mac-Vicar was co-founder and CTO of gaming unicorn Wildlife Studios; and Vaz gained product and marketing expertise at Tesla and Wildlife. Together, they positioned Enter at the crossroads of Brazil’s massive litigation market and the power of generative AI.

Growth and Market Impact of Enter Series A 2025

As Enter concludes this founding round, it targets one of Brazil’s most costly corporate headaches: high-volume consumer litigation. Provisions for these cases often surpass net profits in sectors like banking and retail. By combining AI with deep legal and operational data, Enter automates critical workflows — from analyzing claims to reconstructing facts and producing full defense documents. The platform also manages appeals, hearings, and litigation cost projections.

The company’s growth has been rapid. According to the Wall Street Journal, annual recurring revenue jumped from $1 million to $10 million in just one year. Brazil Journal notes that contracts with its 15 publicly listed clients average R$4 million per year, suggesting revenues of ~R$60 million annually from this segment alone.

Its client base now includes Itaú, Santander, Mercado Livre, Magazine Luiza, Latam Airlines, Nubank, Banco Mercantil, and Vivo. Enter claims it already manages about 30% of consumer lawsuits filed against these companies, with penetration reaching 60% within a year at more mature accounts. The startup expects to process around 250,000 lawsuits in 2025, equivalent to 14% of all consumer claims involving Brazil’s 10 most-sued corporations.

Looking ahead, Enter plans to expand its platform to labor lawsuits and regulatory complaints before agencies like Procon and Banco Central, with pilot projects already underway. International expansion across Latin America is planned within three to four years.

The Firms Behind the Deal

Wilson Sonsini Goodrich & Rosati represented Enter in the transaction. The deal team was led by partner Matt Squires.

Arthur Dalmarco, Enter‘s Chief Legal Officer, and a former Gunderson Dettmer associate, coordinated the legal aspects of the deal for the Company.

Veirano Advogados represented Founders Fund in Brazil.

The firm’s deal team was led by partner Guilherme Monteiro  with support from senior associate João Pedro Zagni  (feature in our first issue of the Associates), Isabel Hering (senior associate – IP), Annalice Baldini (associate – VC), and Giulia Volante (associate – IP).

Gunderson Dettmer acted as U.S. counsel to Founders Fund.

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Resumo em português

A Enter, startup brasileira de inteligência artificial aplicada ao contencioso, levantou R$200 milhões (US$35 milhões)em rodada Série A liderada por Founders Fund e Sequoia Capital, alcançando avaliação de R$2 bilhões. Fundada em 2023 por Mateus Costa-Ribeiro, Michael Mac-Vicar e Henrique Vaz, a empresa cresce rapidamente com clientes como Itaú, Santander, Nubank e Magazine Luiza, e espera processar 250 mil ações em 2025. Na assessoria jurídica, Wilson Sonsini representou a Enter (sócio Matt Squires); o Founders Fund foi assessorado por Gunderson Dettmer(sócio Arthur Dalmarco) e por Veirano Advogados no Brasil — equipe liderada por Guilherme Monteiro com apoio de João Pedro Zagni, Isabel Hering, Annalice Baldini e Giulia Volante.