Check out 9 pitch decks that legal-tech startups used to raise millions

legal tech lady justice code 4x3
The legal-tech space has raised more than $1 billion in funding so far this year.

  • Funding for legal-tech has surprassed $1 billion for 2021 so far.
  • VC firms, private equity, and even traditional law players are pouring money in.
  • Check out these 9 pitch decks for examples of how legal-tech startup founders sold their vision.
  • See more stories on Insider’s business page.

As law firms and their clients seek to digitize and streamline work, VCs have been opening their wallets to the growing legal-tech space. The total value of deals in the global legal-tech market through the end of the third quarter clocks in at $1.47 billion – far surpassing the $607 million figure from all of 2020, according to data from PitchBook.

Private equity firms are also increasingly eyeing legal tech, investing more than $3.6 billion in Q1 of 2021 alone, according to market intelligence platform Bodhala.

Here’s a look at our legal-tech pitch deck collection.


Malbek

Hemanth Puttaswamy, CEO and co-founder of Malbek
Hemanth Puttaswamy, CEO and co-founder of Malbek.

Malbek, which helps companies’ legal, sales, and finance teams manage and analyze their contracts, announced in September that it raised $15.3 million for its Series A.

Contract lifecycle management, or CLM, has been red-hot in the legal-tech space. Of the $1.4 billion invested in legal-tech during the first half of 2021, almost a quarter was snapped up by six contract companies, including Ironclad, Contractbook, and Icertis. SoftBank recently led the $115 million Series C for ContractPodAi, another CLM company.

Founded in 2017, Malbek helps these departments through the entire contracting process, from drafting contracts with optimal terms through tracking contractual obligations after they’re signed.

The Series A was led by Atlanta-based Noro-Moseley Partners, which invests in early-growth tech and healthcare companies. TDF Ventures and Osage Venture Partners also participated in the round.

This 11-page pitch deck scored a contract-management startup $15.3 million for its Series A


ContractPodAi

masayoshi son softbank
SoftBank founder Masa Son.

A startup looking to streamline how companies handle contracts nabbed an investment from one of the world’s most high-profile investors in a nod to the rising interest in legal tech.

ContractPodAi, which helps in-house legal teams automate and manage their contracts, raised a $115 million Series C in late September led by SoftBank. The round quintupled ContractPodAi’s valuation since its last funding round in 2019, though the company declined to disclose specific valuation numbers.

The investment came from SoftBank’s Vision Fund 2. Its predecessor, the original $100 billion megafund Vision Fund, has invested in dozens of household names including WeWork, Uber, and DoorDash. While some of the fund’s bets were wildly successful, others fell short of expectations.

ContractPodAi is the first legal-tech investment by either of SoftBank’s Vision Funds.

Here’s the 7-page pitch deck that legal-tech startup ContractPodAi used to convince SoftBank’s Masa Son to lead its $115 million Series C


Jus Mundi

Jean-Rémi de Maistre CEO Jus Mundi
Jean-Rémi de Maistre, CEO and co-founder of Jus Mundi.

Jus Mundi, an AI-powered legal search engine for international law and arbitration, snapped up $10 million for its Series A in September 2021.

In 2019, Jean-Rémi de Maistre, a former lawyer at the International Court of Justice, co-launched the company after realizing how hard it was to conduct research for cross-border legal cases.

Paris-based Jus Mundi raised a €1 million ($1.17 USD) seed round in March 2020, spurring a fivefold growth in annual recurring revenue over the span of 2020, according to the company. Its most recent $10 million Series A was led by C4 Ventures, a European VC firm founded by Pascal Cagni, a former head of Apple Europe. The VC firm has also invested in hot-ticket companies like Foursquare, Nest, and Via.

Here’s the 16-page pitch deck that landed legal research company Jus Mundi a $10 million Series A


LawVu

LawVu's cofounders, Tim Boyne and Sam Kidd, in front of an artsy wall
LawVu co-founders Tim Boyne and Sam Kidd.

LawVu, an end-to-end software platform for in-house legal teams, snapped up a $17 million Series A in August.

Founded in 2015, the New Zealand-based startup enables companies’ in-house lawyers to manage contracts, documents, billing, and more on one platform.

The funding round was led by the private-equity firm Insight Partners, which has invested in other legal-tech companies like DocuSign, Kira Systems, and ContractPodAI, as well as big-ticket businesses like Twitter, Shopify, and Hello Fresh. AirTree Ventures, an Australia-based venture-capital firm, co-led the Series A.

See the 12-page pitch deck that LawVu, a startup that wants to be Salesforce for lawyers, used to nab $17 million from investors like Insight Partners


Athennian

Adrian Camara
Athennian’s CEO and founder, Adrian Camara.

Athennian, which helps law firms and legal departments manage data and workflow around legal entities, raised a $7 million CAD (more than $5.5 million USD) Series A extension in the beginning of March, nearly doubling its initial $8 million Series A round last year.

Athennian’s revenue and headcount more than doubled since the original Series A, according to founder and CEO Adrian Camara. He declined to disclose revenue numbers, but said that the sales and marketing team grew from 35 people in September to around 70 in March.

Launched in 2017, Athennian is used by nearly 200 legal departments and law firms, including Dentons, Fastkind, and Paul Hastings, to automate documents like board minutes, stock certificates, and shareholder consents.

The Series A extension was led by Arthur Ventures. New investors Touchdown Ventures and Clio’s CEO, Jack Newton, also participated in the round, alongside Round13 Capital and other existing investors. To date, Athennian has raised $17 million CAD, or around $14 million USD, in venture capital funding, per Pitchbook.

Here’s the small but mighty pitch deck that nearly doubled legal tech Athennian’s Series A to $12 million.


Evisort

jerry_1.JPG
Evisort’s CEO and co-founder Jerry Ting.

Contract tech is the frontrunner in the legal tech space, as companies across industries seek to streamline their contract creation, negotiation, and management processes.

Evisort, a contract lifecycle management (CLM) platform, raised $35 million in its Series B announced late February, bringing total funding to $55.5 million. The private equity firm General Atlantic led its latest funding round, with participation from existing investors Amity Ventures, Microsoft’s venture firm M12, and Vertex Ventures.

Founded in 2016, Evisort uses artificial intelligence to help businesses categorize, search, and act on documents.

Its CEO Jerry Ting founded Evisort while he was still attending Harvard Law School. He spent one summer working at Fried Frank, but soon realized that he didn’t want to be a lawyer because he didn’t want to spend excruciating hours manually reading fifty-page contracts. He did, however, recognize how important they are to corporations, and co-founded Evisort as a tool to locate and track valuable information like a contract’s expiration date and obligations like payment dates.

Evisort’s CEO walks through the 11-page pitch deck that the contract software startup used to nab $35 million from investors like General Atlantic – and lays out its path to an IPO


Contractbook

Contractbook_founders_2 min
Niels Brøchner, Jarek Owczarek, and Viktor Heide founded Contractbook to offer a client-centric tool to manage contracts,

Try to imagine the contracts negotiation process, and one might conjure up a scene where a sheaf of papers, tucked discreetly into a manila folder, is shuttled from one law office to the mahogany table of another. With a stroke of a fountain pen, the deal is sealed.

Those old-school methods have long been replaced with the adoption of PDFs, redlined versions of which zip from email inbox to inbox. Now, contracting is undergoing another digital shift that will streamline the process as companies are becoming more comfortable with tech and are seeking greater efficiencies – and investors are taking note.

Contractbook, a Denmark-based contract lifecycle management platform, late last year raised $9.4 million in its Series A investment round, led by venture capital titan Bessemer Venture Partners. In November 2019, Gradient Ventures, Google’s AI-focused venture fund, led Contractbook’s $3.9 million seed round.

Founded in Copenhagen in 2017, Contractbook uses data to automate documents, offering an end-to-end contracts platform for small- and medium-sized businesses (SMBs). Niels Brøchner, the company’s CEO and co-founder, said that Contractbook was born out of the notion that existing contract solutions failed to use a document’s data – from names of parties to the folder the document is stored in – to automate the process and drive workflow.

Here’s the 13-page pitch deck that Contractbook, which wants to take on legal tech giants like DocuSign, used to raise $9.4 million from investors like Bessemer Ventures


Disco

Kiwi Camara DISCO headshot
Kiwi Camara, CEO and cofounder of Disco.

Cloud-based technology is having its moment, especially in the legal industry.

As attorneys have been propelled to work remotely amid the pandemic, data security and streamlined work processes are top-of-mind for law firms, leading them to adopt cloud technology.

Investors are taking note. Disco, a cloud-based ediscovery platform that uses artificial intelligence to streamline the litigation process, snapped up $60 million in equity financing in October.

Its Series F, led by Georgian Partners and also backed by VC titans like Bessemer Venture Partners and LiveOak Venture Partners, brings total investment to $195 million, valuing the company at $785 million.

Launched in Houston in 2012, Disco offers AI-fueled products geared towards helping lawyers review and analyze vast quantities of documents, allowing them to more efficiently determine which ones are relevant to a case.

The CEO of Disco, a legal tech that sells cloud-based discovery software, walked us through a 20-page pitch deck the startup used to nab $60 million


BlackBoiler

Dan Broderick BlackBoiler
Dan Broderick, cofounder and CEO of BlackBoiler.

BlackBoiler is an automated contract markup software that’s used by Am Law 25 firms and several Fortune 1000 companies.

The software uses machine learning to automate the process of reviewing and revising documents in “track changes.” This saves attorneys the time they would typically spend marking up contracts that often use standard boilerplate language.

As a pre-execution software used in the negotiation and markup stage of the contracts process, BlackBoiler has carved out a unique space in the $35 billion contracts industry, said Dan Broderick, a lawyer who co-founded the company in 2015 and is now its CEO.

Broderick walked Insider through the pitch deck the company used to attract funding from investors, including DocuSign as well as 10 attorneys that run the gamut from Am Law 50 partners to general counsel at large corporations.

Check out the 14-page pitch deck that contract-editing startup BlackBoiler used to nab $3.2 million from investors including DocuSign

Read the original article on Business Insider

Russia is rolling out a facial recognition payment system for Moscow metro riders, sparking privacy concerns

A subway train is seen moving through Mayakovskaya station in Moscow, Russia.
Moscow metro’s new Face Pay could make life easier for some travelers, but also make it easier for Moscow to track down political opponents of President Vladimir Putin.

  • Moscow’s metro has unveiled a facial recognition-based payment system, The Guardian reported.
  • Riders can now pay at more than 240 stations without needing a card, cash, or phone.
  • But privacy advocates worry the cameras could expand Moscow’s ability to crack down on dissent.

Moscow Metro rolled out new facial recognition technology on Friday, allowing customers to pay for rides using only their faces, The Guardian reported.

The new service, Face Pay, requires riders to upload their photo, bank card, and metro card information to a mobile app, enabling riders to pass through turnstiles by simply glancing at cameras positioned nearby, according to The Guardian.

Face Pay launched at more than 240 rail stations across Moscow Metro, Europe’s busiest metro system with around 9 million passengers daily.

“Moscow is the first in the world to introduce Face Pay on such a scale. The technology is new and very complex, we will continue to work on improving it,” Moscow Mayor Sergey Sobyanin tweeted, according to a translation by The Guardian.

Maxim Liksutov, Moscow’s deputy mayor for transport, said in a press release that his ministry expects 10% to 15% of riders to enroll in Face Pay within the next two to three years but added that other payment systems aren’t going anywhere as of now, citing a report by independent Russian news agency Interfax.

While Russian officials touted the technology as a way to reduce wait times, especially during peak hours, privacy advocates raised concerns about Face Pay expanding Russia’s state surveillance apparatus.

“This is a dangerous new step in Russia’s push for control over its population,” Stanislav Shakirov, founder of digital privacy and government transparency group Roskomsvoboda, told The Guardian.

“We are moving closer to authoritarian countries like China that have mastered facial technology,” Shakirov added. “The Moscow metro is a government institution and all the data can end up in the hands of the security services.”

Moscow has recently expanded its CCTV camera network, and has installed around 175,000 of its planned 200,000 surveillance cameras.

But Reuters reported in 2020 that Moscow has used the cameras to suppress protests against President Vladimir Putin and is facing multiple lawsuits accusing it of enabling a black market that allows ordinary people to spy on others using that same network.

Read the original article on Business Insider

Check out 8 pitch decks that legal-tech startups used to raise millions

legal tech lady justice code 4x3
The legal-tech space has raised more than $1 billion in funding so far this year.

  • Funding for legal-tech has surprassed $1 billion for 2021 so far.
  • VC firms, private equity, and even traditional law players are pouring money in.
  • Check out these 8 pitch decks for examples of how legal-tech startup founders sold their vision.
  • See more stories on Insider’s business page.

As law firms and their clients seek to digitize and streamline work, VCs have been opening their wallets to the growing legal-tech space. The total value of deals in the global legal-tech market through the end of the third quarter clocks in at $1.47 billion – far surpassing the $607 million figure from all of 2020, according to data from PitchBook.

Private equity firms are also increasingly eyeing legal tech, investing more than $3.6 billion in Q1 of 2021 alone, according to market intelligence platform Bodhala.

Here’s a look at our legal-tech pitch deck collection.


ContractPodAi

masayoshi son softbank
SoftBank founder Masa Son.

A startup looking to streamline how companies handle contracts nabbed an investment from one of the world’s most high-profile investors in a nod to the rising interest in legal tech.

ContractPodAi, which helps in-house legal teams automate and manage their contracts, raised a $115 million Series C in late September led by SoftBank. The round quintupled ContractPodAi’s valuation since its last funding round in 2019, though the company declined to disclose specific valuation numbers.

The investment came from SoftBank’s Vision Fund 2. Its predecessor, the original $100 billion megafund Vision Fund, has invested in dozens of household names including WeWork, Uber, and DoorDash. While some of the fund’s bets were wildly successful, others fell short of expectations.

ContractPodAi is the first legal-tech investment by either of SoftBank’s Vision Funds.

Here’s the 7-page pitch deck that legal-tech startup ContractPodAi used to convince SoftBank’s Masa Son to lead its $115 million Series C


Jus Mundi

Jean-Rémi de Maistre CEO Jus Mundi
Jean-Rémi de Maistre, CEO and co-founder of Jus Mundi.

Jus Mundi, an AI-powered legal search engine for international law and arbitration, snapped up $10 million for its Series A in September 2021.

In 2019, Jean-Rémi de Maistre, a former lawyer at the International Court of Justice, co-launched the company after realizing how hard it was to conduct research for cross-border legal cases.

Paris-based Jus Mundi raised a €1 million ($1.17 USD) seed round in March 2020, spurring a fivefold growth in annual recurring revenue over the span of 2020, according to the company. Its most recent $10 million Series A was led by C4 Ventures, a European VC firm founded by Pascal Cagni, a former head of Apple Europe. The VC firm has also invested in hot-ticket companies like Foursquare, Nest, and Via.

Here’s the 16-page pitch deck that landed legal research company Jus Mundi a $10 million Series A


LawVu

LawVu's cofounders, Tim Boyne and Sam Kidd, in front of an artsy wall
LawVu co-founders Tim Boyne and Sam Kidd.

LawVu, an end-to-end software platform for in-house legal teams, snapped up a $17 million Series A in August.

Founded in 2015, the New Zealand-based startup enables companies’ in-house lawyers to manage contracts, documents, billing, and more on one platform.

The funding round was led by the private-equity firm Insight Partners, which has invested in other legal-tech companies like DocuSign, Kira Systems, and ContractPodAI, as well as big-ticket businesses like Twitter, Shopify, and Hello Fresh. AirTree Ventures, an Australia-based venture-capital firm, co-led the Series A.

See the 12-page pitch deck that LawVu, a startup that wants to be Salesforce for lawyers, used to nab $17 million from investors like Insight Partners


Athennian

Adrian Camara
Athennian’s CEO and founder, Adrian Camara.

Athennian, which helps law firms and legal departments manage data and workflow around legal entities, raised a $7 million CAD (more than $5.5 million USD) Series A extension in the beginning of March, nearly doubling its initial $8 million Series A round last year.

Athennian’s revenue and headcount more than doubled since the original Series A, according to founder and CEO Adrian Camara. He declined to disclose revenue numbers, but said that the sales and marketing team grew from 35 people in September to around 70 in March.

Launched in 2017, Athennian is used by nearly 200 legal departments and law firms, including Dentons, Fastkind, and Paul Hastings, to automate documents like board minutes, stock certificates, and shareholder consents.

The Series A extension was led by Arthur Ventures. New investors Touchdown Ventures and Clio’s CEO, Jack Newton, also participated in the round, alongside Round13 Capital and other existing investors. To date, Athennian has raised $17 million CAD, or around $14 million USD, in venture capital funding, per Pitchbook.

Here’s the small but mighty pitch deck that nearly doubled legal tech Athennian’s Series A to $12 million.


Evisort

jerry_1.JPG
Evisort’s CEO and co-founder Jerry Ting.

Contract tech is the frontrunner in the legal tech space, as companies across industries seek to streamline their contract creation, negotiation, and management processes.

Evisort, a contract lifecycle management (CLM) platform, raised $35 million in its Series B announced late February, bringing total funding to $55.5 million. The private equity firm General Atlantic led its latest funding round, with participation from existing investors Amity Ventures, Microsoft’s venture firm M12, and Vertex Ventures.

Founded in 2016, Evisort uses artificial intelligence to help businesses categorize, search, and act on documents.

Its CEO Jerry Ting founded Evisort while he was still attending Harvard Law School. He spent one summer working at Fried Frank, but soon realized that he didn’t want to be a lawyer because he didn’t want to spend excruciating hours manually reading fifty-page contracts. He did, however, recognize how important they are to corporations, and co-founded Evisort as a tool to locate and track valuable information like a contract’s expiration date and obligations like payment dates.

Evisort’s CEO walks through the 11-page pitch deck that the contract software startup used to nab $35 million from investors like General Atlantic – and lays out its path to an IPO


Contractbook

Contractbook_founders_2 min
Niels Brøchner, Jarek Owczarek, and Viktor Heide founded Contractbook to offer a client-centric tool to manage contracts,

Try to imagine the contracts negotiation process, and one might conjure up a scene where a sheaf of papers, tucked discreetly into a manila folder, is shuttled from one law office to the mahogany table of another. With a stroke of a fountain pen, the deal is sealed.

Those old-school methods have long been replaced with the adoption of PDFs, redlined versions of which zip from email inbox to inbox. Now, contracting is undergoing another digital shift that will streamline the process as companies are becoming more comfortable with tech and are seeking greater efficiencies – and investors are taking note.

Contractbook, a Denmark-based contract lifecycle management platform, late last year raised $9.4 million in its Series A investment round, led by venture capital titan Bessemer Venture Partners. In November 2019, Gradient Ventures, Google’s AI-focused venture fund, led Contractbook’s $3.9 million seed round.

Founded in Copenhagen in 2017, Contractbook uses data to automate documents, offering an end-to-end contracts platform for small- and medium-sized businesses (SMBs). Niels Brøchner, the company’s CEO and co-founder, said that Contractbook was born out of the notion that existing contract solutions failed to use a document’s data – from names of parties to the folder the document is stored in – to automate the process and drive workflow.

Here’s the 13-page pitch deck that Contractbook, which wants to take on legal tech giants like DocuSign, used to raise $9.4 million from investors like Bessemer Ventures


Disco

Kiwi Camara DISCO headshot
Kiwi Camara, CEO and cofounder of Disco.

Cloud-based technology is having its moment, especially in the legal industry.

As attorneys have been propelled to work remotely amid the pandemic, data security and streamlined work processes are top-of-mind for law firms, leading them to adopt cloud technology.

Investors are taking note. Disco, a cloud-based ediscovery platform that uses artificial intelligence to streamline the litigation process, snapped up $60 million in equity financing in October.

Its Series F, led by Georgian Partners and also backed by VC titans like Bessemer Venture Partners and LiveOak Venture Partners, brings total investment to $195 million, valuing the company at $785 million.

Launched in Houston in 2012, Disco offers AI-fueled products geared towards helping lawyers review and analyze vast quantities of documents, allowing them to more efficiently determine which ones are relevant to a case.

The CEO of Disco, a legal tech that sells cloud-based discovery software, walked us through a 20-page pitch deck the startup used to nab $60 million


BlackBoiler

Dan Broderick BlackBoiler
Dan Broderick, cofounder and CEO of BlackBoiler.

BlackBoiler is an automated contract markup software that’s used by Am Law 25 firms and several Fortune 1000 companies.

The software uses machine learning to automate the process of reviewing and revising documents in “track changes.” This saves attorneys the time they would typically spend marking up contracts that often use standard boilerplate language.

As a pre-execution software used in the negotiation and markup stage of the contracts process, BlackBoiler has carved out a unique space in the $35 billion contracts industry, said Dan Broderick, a lawyer who co-founded the company in 2015 and is now its CEO.

Broderick walked Insider through the pitch deck the company used to attract funding from investors, including DocuSign as well as 10 attorneys that run the gamut from Am Law 50 partners to general counsel at large corporations.

Check out the 14-page pitch deck that contract-editing startup BlackBoiler used to nab $3.2 million from investors including DocuSign

Read the original article on Business Insider

Apple will likely have to cut its iPhone 13 production goals for 2021 due to the global chip shortage

Tim Cook - iphone 13
  • Apple is likely to lower its iPhone 13 production targets for 2021, Bloomberg reported.
  • The smartphone maker may aim for 10 million fewer units than originally planned.
  • The slashed production goals are due to the chip shortage impacting global supply chains.

Apple will likely have to cut its 2021 production targets for the iPhone 13 by as many as 10 million units due to the ongoing chip shortage, Bloomberg reported Tuesday.

Apple originally planned to make 90 million units of its newest smartphone in Q4 2021, but has told manufacturing partners it’s now aiming lower because supply-chain partners Broadcom and Texas Instruments may not be able to deliver enough components for that many devices, according to Bloomberg, citing people with knowledge of the matter.

Apple did not respond to a request for comment on this story.

The chip shortage has impacted supply chains around the world, hitting the tech industry, automakers, and other tech-enabled products. It’s expected to cost companies hundreds of billions of dollars in 2021, and experts say it could last another two years.

Insider’s Hillary Hoffower, Ben Winck, and Andy Kiersz recently reported that much of the shortage can be traced back to the US-China trade war.

Read the original article on Business Insider

Big Tech salaries revealed: How much engineers, developers, and product managers make at companies including Amazon, Facebook, Google, Apple, Microsoft, Intel, Uber, IBM, and Salesforce

Two people sitting in an office in front of four monitors and talking to each other while holding clipboards.
Business Insider analyzed salary data for workers at top tech companies.

  • Business Insider analyzed salary data for thousands of workers to reveal how much large tech companies pay.
  • We crunched the numbers for companies including Airbnb, Amazon, Apple, Facebook, Google, Microsoft, Salesforce, Snap, and Uber.
  • The data, which US companies report in visa applications for foreign workers, sheds light on how engineers, designers, and others are compensated in the competitive industry.

Big US technology companies have powered their way through the pandemic, posting impressive growth, minting money, and hiring rapidly.

In early July, the tech-industry association CompTIA reported that the sector experienced job growth in 10 out of the previous 12 months – a standout performance given the lockdowns last year. Tech firms added more than 80,000 workers in the US through the first half of 2021, it added.

Google’s parent company, Alphabet, hired more than 4,000 employees in the second quarter alone. Overall, more than 300,000 open tech jobs were posted in June, with software and app developers, IT-support specialists and project managers, systems engineers and architects, and systems analysts in highest demand. Jobs in emerging tech, such as AI, accounted for more than a quarter of open positions.

Companies are required to disclose information including salary (or, in some cases, salary ranges) when they hire foreign workers under the H1-B visa program, giving insight into what these tech giants are willing to shell out for talent.

So, to get a sense of what salaries in the industry are like these days, Business Insider analyzed the US Office of Foreign Labor Certification’s disclosure data for permanent and temporary foreign workers to find out what companies pay employees in key roles, including engineers, designers, and salespeople.

When you’re done checking out this industry data, take a look at Insider’s searchable database of over 250,000 salaries from more than 250 companies so you can know how much you should be paid.

Google’s software engineers can make more than $300,000.

Alphabet & Google CEO Sundar Pichai
Google CEO Sundar Pichai.

Google is often touted as one of the best places to work, with compensation to match.

A software engineer was offered $353,000, a vice president of engineering can get $475,000, and a senior vice president recently took in an annual salary of $650,000.

Here’s a look at many other positions and how much they pay across Google.

The company’s Cloud business has been aggressively building out its workforce as it tries to catch its larger cloud rivals Amazon Web Services and Microsoft Azure.

Here’s a peek at the salaries Google Cloud pays US-based engineers, managers, and more.

Amazon cloud-solutions architects are paid $90,800 to $185,000, depending on location and skills.

Adam Selipsky AWS CEO
Adam Selipsky, the Amazon Web Services boss.

Amazon’s cloud unit, now run by Adam Selipsky, has continued hiring for technical and business talent to support its dominant cloud-computing business.

Insider reviewed more than 200 H-1B visas that Amazon’s cloud unit applied for from January to June to reveal how much it paid software developers, data scientists, marketers, salespeople, business analysts, and more. The highest-paid employees, according to that data, can make as much as $185,000 in base salary.

Check out the details here.

Senior marketing jobs at Apple can pay up to $325,000.

tim cook peace sign
Apple CEO Tim Cook.

Apple’s advertising is legendary, and its broader marketing efforts are integral to the company’s success. The iPhone maker regularly gets attention for its cinematic campaigns.

The company sponsors visas for a range of well-paid marketing jobs. One marketing manager makes $240,000, while a marketing senior director earns $325,000.

Here are the salaries of other advertising- and marketing-focused roles at Apple and other tech giants including Airbnb and Facebook.

A Facebook engineering director can make roughly $360,000

Sheryl Sandberg
Facebook COO Sheryl Sandberg

Facebook employees consistently make well into the six figures. An in-house ad-agency director hired in the past year earns a salary of just over $330,000. An engineering director makes roughly $360,000.

Pay depends on the job, of course, but increasingly on where the worker is based, too. A data analyst in California, for example, makes $130,000 to $150,000 a year. One data analyst in Texas makes $128,000, and another $111,000. A software engineer in New York makes $160,000. One in Rhode Island and another in Texas make $118,000 a year.

Here are all the latest data on Facebook salaries.

Microsoft’s highest-paying jobs include software engineers, sales managers, and researchers.

Microsoft employees
Employees at Microsoft.

We analyzed Microsoft’s more than 1,400 active foreign-worker visas in 2020 to find the titles with the highest salaries and provided a salary range for each role.

We focused this list on roles that pay $175,000 or more at the high end of the range and categorized them based on information we found in job postings. The highest salary we found, for a channel sales manager, was $250,000.

In internal Microsoft surveys obtained by Business Insider, 55% of staff said in 2020 that their combined salary, bonus, and equity was competitive with similar jobs at other companies, down from 65% in 2017.

Here’s the full list of jobs and salaries, covering positions such as cloud-solutions architect, legal counsel, silicon engineer, and software engineering lead.

Uber competes with the biggest Silicon Valley companies, and its salaries show that.

Uber CEO Dara Khosrowshahi
Uber CEO Dara Khosrowshahi.

Though Uber has gone through rounds of job cuts in recent years, its compensation for many full-time positions is competitive with the biggest Silicon Valley tech firms.

Senior engineers can earn salaries of well over $200,000, while data scientists can pull in almost $150,000 and senior product managers can make about $190,000 or more, excluding any equity or bonus.

Check out the full list of Uber positions and salaries here.

Intel engineering managers can make more than $300,000.

pat gelsinger vmware
Intel CEO Pat Gelsinger.

Intel is battling slowing revenue growth, shrinking margins, and rising competition from Taiwan Semiconductor, AMD, Nvidia, and others.

There’s also a semiconductor shortage to contend with, while marquee customers like Apple are designing their own chips.

For all of this, Intel relies on scientists, researchers, managers, marketers, and different types of software and hardware engineers.

Here’s a peek at the salaries Intel pays some of these employees, based on roles from almost 1,000 approved visa applications that the company filed with authorities.

IBM employees can make as much as $335,000 in base salary.

IBM CEO Arvind Krishna
IBM CEO Arvind Krishna.

Under CEO Arvind Krishna, IBM is trying to reinvent itself for the cloud-computing era, dominated so far by Amazon, Microsoft, Alibaba, and Google.

IBM’s 2019 purchase of the open-source-software firm Red Hat for $34 billion was a defining moment when the company bet big on hybrid cloud and artificial intelligence. Part of IBM’s reinvention includes growing its 350,000-strong employee base to add engineering talent in cloud, hybrid cloud, and AI, as well as in fields like strategy, consulting, and business analysis.

Business Insider analyzed the 241 H-1B visas IBM applied for since January to find out what it pays engineers, business analysts and consultants, digital strategists, and more. The highest-paid IBM employees can make as much as $335,000 in base salary, according to that data.

Check out all the jobs and salaries here.

A senior manager of software engineering at Salesforce is paid more than $215,000.

Salesforce tower
Employees outside the Salesforce Tower.

Salesforce is embracing a hybrid mindset, giving employees the option to work remotely part time, and it expects to increase its number of permanently remote workers, too.

That flexibility is opening up talent pools for the company. Last September, the company said it was planning to add over 12,000 jobs over the next year. And Chief People Officer Brent Hyder told the San Francisco Chronicle in April that Salesforce’s hiring spree this year would exceed 15,000 employees.

Insider analyzed the 206 H-1B visas Salesforce applied for from January to March to find out how much it paid workers in areas like engineering, data analytics, and product management. Software engineers can make more than $200,000 in salary, the data showed.

Here’s the full list of positions and pay.

Snap offers base salaries ranging from $59,000 to $500,000.

Evan Spiegel Snap CEO
Snap CEO Evan Spiegel.

Snap, the company behind Snapchat, has had a growth spurt. And it’s been staffing up to support ambitions in areas like augmented reality, short-form video, and original shows. The company now has about 4,000 employees in 15 countries.

Snap said in May that it was committed to paying all employees a livable wage that “contributes to healthy work-life integration and to the local economy in which we work.” It offers a minimum of $15,000 in equity grants to new hires and said its baseline annual pay rate for employees at its headquarters in Santa Monica is $70,000.

In late 2020 and 2021, Snap offered annual base salaries ranging from $59,000 to $500,000 for various roles, according to data from H-1B visa applications analyzed by Business Insider.

Check out all the Snap jobs and pay here.

Waymo pays $122,000 to $300,000, depending on the type of job and location.

Waymo co-CEOs Tekedra Mawakana, and UiPath CEO Daniel Dines.
Waymo co-CEO Tekedra Mawakana and UiPath CEO Daniel Dines.

Few industries are blowing up like artificial intelligence and big data. PitchBook estimated that spending on AI software and hardware would reach $138 billion this year and grow at a rate of 23% in the next three years.

All that investment fuels an equally explosive jobs market. The job-search site ZipRecruiter showed more than 60,000 AI-engineer jobs listed. Those roles pay very well, with annual compensation as high as $304,500.

Business Insider analyzed US visa-application data from the first quarter of 2021 for permanent and temporary foreign workers to find out what 10 top AI companies pay engineers, researchers, and other professionals in the field of big data and machine learning.

Waymo relies heavily on AI to train the software that controls its autonomous vehicles. The Alphabet unit pays $122,000 to $300,000, depending on the type of job and location, according to the data.

Here’s the full salary data for Waymo, Snowflake, UiPath, Databricks, DataRobot, Samsara, ByteDance, Cruise, Dataminr, and OpenAI.

Read the original article on Business Insider

Bank of America’s 8 key decision-makers in its newly-split tech and ops divisions

Bank of America power players Tony Kerrison, Cathy Bessant, and Sumeet Chabria cut out on a red background.
From left: Tony Kerrison, Cathy Bessant, and Sumeet Chabria. Bank of America.

  • Bank of America announced Friday an overhaul of its management team.
  • Cathy Bessant, the bank’s chief tech and ops officer, was named vice chair of global strategy.
  • These are the top execs now running BofA’s reorganized tech and ops divisions.
  • See more stories on Insider’s business page.

Bank of America CEO Brian Moynihan announced a sweeping set of executive changes on Friday that will elevate new faces to some of the most senior roles in the company and see new leadership in charge of the bank’s tech, operations, finance, legal, and administration divisions.

Cathy Bessant, the bank’s chief technology and operations officer, will head to Paris as she takes on a vice-chair role overseeing Bank of America’s global strategy alongside the bank’s European boards.

In August, Insider profiled Bessant and her team of eight direct reports who oversee the bank’s vast network of technology work and operations.

“One of the key ingredients to making it work is that they are integrated with each other,” Bessant told Insider in August of her leadership team of eight. “A technology and operations organization doesn’t have the luxury of being able to be an island.”

Subscribers can see the full list of key execs in BofA’s tech and ops here:

Bank of America just split its tech and ops org as part of a wider leadership shake up. These are the 8 key execs now leading the two divisions.

Read the original article on Business Insider

How Michael Saylor rebooted his career and his company by becoming the world’s biggest bitcoin bull

Microstrategy CEO Michael Saylor
MicroStrategy CEO Michael Saylor

Michael Saylor is no stranger to the limelight. The MicroStrategy CEO is perhaps best known for losing $6 billion in a single day during the height of the dot-com bubble, when the software business he had founded at age 24 nearly collapsed.

Two decades later, Saylor is once again at the center of a jittering conversation, thanks to his unprecedented embrace of bitcoin. With a mix of debt and virtually all of MicroStrategy’s cash, Saylor has bought more than 100,000 bitcoins that today are worth billions – and he doesn’t show any signs of slowing his buying binge anytime soon.

While other high-profile tech execs have invested company cash into crypto – Tesla’s Elon Musk and Square’s Jack Dorsey are among the best known – none has lashed their business’s fortunes to bitcoin the way that Saylor has. As little as 20% of Microstrategy’s value is tied to the company’s core software product, reckons analyst Kamil Mielczarek.

Saylor’s re-emergence as a bearded crypto king is one of the most fascinating comeback stories in the tech business; a surreal second act as well as a striking manifestation of the popular forces reshaping the rules of business. With 1.5 million Twitter followers, Saylor has twice as many as the US Federal Reserve and nearly 10 times as many as Gary Gensler, the chairman of the Securities and Exchange Commission who has vowed to more closely regulate cryptocurrencies.

The bitcoin pivot has injected an element of flair into MicroStrategy, now the largest corporate holder of the cryptocurrency, and sent the company’s stock soaring.

Insider spoke to a half-dozen former employees who worked closely with the executive over the years, as well as current and former friends, analysts, investors, and corporate-governance experts to understand whether the man behind the high-stakes bitcoin gamble is showing a stroke of genius or repeating a reckless habit.

Read the full story here: He once lost $6 billion in 1 day. Now he’s a bitcoin guru. Meet Michael Saylor, king of ‘electric money.’

Read the original article on Business Insider

Bank of America’s 8 key decision-makers in its sprawling tech and ops division that includes a $14 billion annual budget and 95,000 employees

Bank of America power players Tony Kerrison, Cathy Bessant, and Sumeet Chabria cut out on a red background.
From left: Tony Kerrison, Cathy Bessant, and Sumeet Chabria. Bank of America.

  • Cathy Bessant is the chief operations and technology officer at Bank of America.
  • She oversees a $14 billion annual tech budget and 95,000 employees globally.
  • These are the eight key leaders who report directly to Bessant.
  • See more stories on Insider’s business page.

With a $14 billion annual tech budget and 95,000 employees globally, Bank of America’s technology and operations division is a key portion of the second-biggest US bank by assets.

Cathy Bessant, the bank’s chief operations and technology officer, has led the group for more than a decade, including its reorganization.

Insider identified the eight key executives within Bessant’s inner circle. Their responsibilities span tech and ops duties within consumer and wealth management to the overall cybersecurity of the firm.

“One of the key ingredients to making it work is that they are integrated with each other,” Bessant told Insider of her leadership team of eight. “A technology and operations organization doesn’t have the luxury of being able to be an island.”

Subscribers can see the full list of Bessant’s key deputies here:

Meet the 8 people reporting to Bank of America’s top tech exec Cathy Bessant who help oversee a $14 billion annual budget and 95,000 employees

Read the original article on Business Insider

Buckle up for tech’s busy season

Hello, and welcome to this week’s edition of the Insider Tech newsletter.

This week:

Programming note: Insider Tech is taking a break – so you won’t be hearing from me directly for a while. We’ll be in touch with updates soon. But in the meantime, we’ll still be sending our best tech stories to your inbox each week. And if you have a few minutes, please fill out this quick, four-question survey to help us improve our tech newsletters.


What went wrong with contact tracing apps?

Google CEO, Sundar Pichai and Apple CEO Tim Cook with a phone in-between them that has a COVID symbol on it and a red notification sign that says 1.

Back in the Spring of 2020 when COVID-19 first began to spread, there was a lot of hope that smartphones could help slow the virus’ spread. Using bluetooth wireless signals, a person’s phone would keep track of all the other phones it crossed paths with – if anyone in the chain turned out to be infected, there would be an easy way to find and notify those at risk.

Google and Apple sprang to action, and built technology to make “exposure notification” a reality. Butas Rob Price reports in a special investigation, the apps have not become the virus fighting superweapons some had hoped for.

Read the full story:

A rare partnership between Google and Apple promised to slow COVID-19 – newly revealed data shows why it flopped in the US


Get ready for a busy September:

We’re about to enter the tech industry’s Fall product launch season, with Apple’s traditional iPhone unveiling at the top of list. It remains to be seen whether Apple eschews superstition and calls its new phone the iPhone 13 – but here are some of the new features expected in the next iPhones. And with Samsung pushing forward with its foldable phones, there’s speculation that Google could show off some folding prototypes when it gives an update on its hardware products.

Meanwhile, Alphabet’s self-driving car business, Waymo, has started offering rides to the public in San Francisco – an important milestone that should heat up the competition in the autonomous car field. And we’ll be hearing from Elon Musk at the Code conference in mid-September.

It’s going to be a busy month, and we’ll be covering all of it here at Insider.

Meanwhile, here’s some of the big stories and development from the past week:

3 things in Big Tech:

Amazon CEO Andy Jassy’s top technical guru, a former auto mechanic who lived for years on a boat, is coming ashore to help steer the company’s future

Google’s payments team is seeing an exodus of executives and employees. Some say they’re frustrated with the slow pace of progress.

What Mark Zuckerberg doesn’t seem to understand about remote work

3 things VC/startup-land:

A startup supported by Uber whistleblower Susan Fowler lets employees anonymously report harassment. Check out the pitch deck it used to raise $9.6 million.

Yale’s new 37-year-old chief investor of its $31 billion endowment tells us how he selects VCs

About 40 VCs passed on funding Maven Clinic before a group of female investors at firms like Sequoia and Lux Capital helped the women’s health startup become a unicorn

3 things in Enterprise tech:

Cisco’s next threats: Analysts say a new crop of tech is eroding Cisco’s dominance

The end of the Pentagon’s $10 billion JEDI deal is the clearest sign yet that the next big thing in cloud computing is already here

Salesforce sees more customers buy its whole platform, not just a few apps. That’s key as it turns Slack into its secret weapon against Microsoft’s Office dominance.


Not necessarily in tech:

Unrest at the big house: federal prison workers are fed up, burned out, and heading for the exits


Thanks for reading, and stay tuned for updates about tech news in your inbox!

– Alexei

Read the original article on Business Insider

Big Tech salaries revealed: How much engineers, developers, and product managers make at companies including Amazon, Google, Apple, Microsoft, Intel, Uber, IBM, and Salesforce

Two people sitting in an office in front of four monitors and talking to each other while holding clipboards.
Business Insider analyzed salary data for workers at top tech companies.

  • Business Insider analyzed salary data for thousands of workers to reveal how much large tech companies pay.
  • We crunched the numbers for companies including Airbnb, Amazon, Apple, Google, Microsoft, Salesforce, Snap, and Uber.
  • The data, which US companies report in visa applications for foreign workers, sheds light on how engineers, designers, and others are compensated in the competitive industry.

Big US technology companies have powered their way through the pandemic, posting impressive growth, minting money, and hiring rapidly.

In early July, the tech-industry association CompTIA reported that the sector experienced job growth in 10 out of the previous 12 months – a standout performance given the lockdowns last year. Tech firms added more than 80,000 workers in the US through the first half of 2021, it added.

Google’s parent company, Alphabet, hired more than 4,000 employees in the second quarter alone. Overall, more than 300,000 open tech jobs were posted in June, with software and app developers, IT-support specialists and project managers, systems engineers and architects, and systems analysts in highest demand. Jobs in emerging tech, such as AI, accounted for more than a quarter of open positions.

Companies are required to disclose information including salary (or, in some cases, salary ranges) when they hire foreign workers under the H1-B visa program, giving insight into what these tech giants are willing to shell out for talent.

So, to get a sense of what salaries in the industry are like these days, Business Insider analyzed the US Office of Foreign Labor Certification’s disclosure data for permanent and temporary foreign workers to find out what companies pay employees in key roles, including engineers, designers, and salespeople.

When you’re done checking out this industry data, take a look at Insider’s searchable database of over 250,000 salaries from more than 250 companies so you can know how much you should be paid.

Google’s software engineers can make more than $300,000.

Alphabet & Google CEO Sundar Pichai
Google CEO Sundar Pichai.

Google is often touted as one of the best places to work, with compensation to match.

A software engineer was offered $353,000, a vice president of engineering can get $475,000, and a senior vice president recently took in an annual salary of $650,000.

Here’s a look at many other positions and how much they pay across Google.

The company’s Cloud business has been aggressively building out its workforce as it tries to catch its larger cloud rivals Amazon Web Services and Microsoft Azure.

Here’s a peek at the salaries Google Cloud pays US-based engineers, managers, and more.

Amazon cloud-solutions architects are paid $90,800 to $185,000, depending on location and skills.

Adam Selipsky AWS CEO
Adam Selipsky, the Amazon Web Services boss.

Amazon’s cloud unit, now run by Adam Selipsky, has continued hiring for technical and business talent to support its dominant cloud-computing business.

Insider reviewed more than 200 H-1B visas that Amazon’s cloud unit applied for from January to June to reveal how much it paid software developers, data scientists, marketers, salespeople, business analysts, and more. The highest-paid employees, according to that data, can make as much as $185,000 in base salary.

Check out the details here.

Senior marketing jobs at Apple can pay up to $325,000.

tim cook peace sign
Apple CEO Tim Cook.

Apple’s advertising is legendary, and its broader marketing efforts are integral to the company’s success. The iPhone maker regularly gets attention for its cinematic campaigns.

The company sponsors visas for a range of well-paid marketing jobs. One marketing manager makes $240,000, while a marketing senior director earns $325,000.

Here are the salaries of other advertising- and marketing-focused roles at Apple and other tech giants including Airbnb and Facebook.

Microsoft’s highest-paying jobs include software engineers, sales managers, and researchers.

Microsoft employees
Employees at Microsoft.

We analyzed Microsoft’s more than 1,400 active foreign-worker visas in 2020 to find the titles with the highest salaries and provided a salary range for each role.

We focused this list on roles that pay $175,000 or more at the high end of the range and categorized them based on information we found in job postings. The highest salary we found, for a channel sales manager, was $250,000.

In internal Microsoft surveys obtained by Business Insider, 55% of staff said in 2020 that their combined salary, bonus, and equity was competitive with similar jobs at other companies, down from 65% in 2017.

Here’s the full list of jobs and salaries, covering positions such as cloud-solutions architect, legal counsel, silicon engineer, and software engineering lead.

Uber competes with the biggest Silicon Valley companies, and its salaries show that.

Uber CEO Dara Khosrowshahi
Uber CEO Dara Khosrowshahi.

Though Uber has gone through rounds of job cuts in recent years, its compensation for many full-time positions is competitive with the biggest Silicon Valley tech firms.

Senior engineers can earn salaries of well over $200,000, while data scientists can pull in almost $150,000 and senior product managers can make about $190,000 or more, excluding any equity or bonus.

Check out the full list of Uber positions and salaries here.

Intel engineering managers can make more than $300,000.

pat gelsinger vmware
Intel CEO Pat Gelsinger.

Intel is battling slowing revenue growth, shrinking margins, and rising competition from Taiwan Semiconductor, AMD, Nvidia, and others.

There’s also a semiconductor shortage to contend with, while marquee customers like Apple are designing their own chips.

For all of this, Intel relies on scientists, researchers, managers, marketers, and different types of software and hardware engineers.

Here’s a peek at the salaries Intel pays some of these employees, based on roles from almost 1,000 approved visa applications that the company filed with authorities.

IBM employees can make as much as $335,000 in base salary.

IBM CEO Arvind Krishna
IBM CEO Arvind Krishna.

Under CEO Arvind Krishna, IBM is trying to reinvent itself for the cloud-computing era, dominated so far by Amazon, Microsoft, Alibaba, and Google.

IBM’s 2019 purchase of the open-source-software firm Red Hat for $34 billion was a defining moment when the company bet big on hybrid cloud and artificial intelligence. Part of IBM’s reinvention includes growing its 350,000-strong employee base to add engineering talent in cloud, hybrid cloud, and AI, as well as in fields like strategy, consulting, and business analysis.

Business Insider analyzed the 241 H-1B visas IBM applied for since January to find out what it pays engineers, business analysts and consultants, digital strategists, and more. The highest-paid IBM employees can make as much as $335,000 in base salary, according to that data.

Check out all the jobs and salaries here.

A senior manager of software engineering at Salesforce is paid more than $215,000.

Salesforce tower
Employees outside the Salesforce Tower.

Salesforce is embracing a hybrid mindset, giving employees the option to work remotely part time, and it expects to increase its number of permanently remote workers, too.

That flexibility is opening up talent pools for the company. Last September, the company said it was planning to add over 12,000 jobs over the next year. And Chief People Officer Brent Hyder told the San Francisco Chronicle in April that Salesforce’s hiring spree this year would exceed 15,000 employees.

Insider analyzed the 206 H-1B visas Salesforce applied for from January to March to find out how much it paid workers in areas like engineering, data analytics, and product management. Software engineers can make more than $200,000 in salary, the data showed.

Here’s the full list of positions and pay.

Snap offers base salaries ranging from $59,000 to $500,000.

Evan Spiegel Snap CEO
Snap CEO Evan Spiegel.

Snap, the company behind Snapchat, has had a growth spurt. And it’s been staffing up to support ambitions in areas like augmented reality, short-form video, and original shows. The company now has about 4,000 employees in 15 countries.

Snap said in May that it was committed to paying all employees a livable wage that “contributes to healthy work-life integration and to the local economy in which we work.” It offers a minimum of $15,000 in equity grants to new hires and said its baseline annual pay rate for employees at its headquarters in Santa Monica is $70,000.

In late 2020 and 2021, Snap offered annual base salaries ranging from $59,000 to $500,000 for various roles, according to data from H-1B visa applications analyzed by Business Insider.

Check out all the Snap jobs and pay here.

Waymo pays $122,000 to $300,000, depending on the type of job and location.

Waymo co-CEOs Tekedra Mawakana, and UiPath CEO Daniel Dines.
Waymo co-CEO Tekedra Mawakana and UiPath CEO Daniel Dines.

Few industries are blowing up like artificial intelligence and big data. PitchBook estimated that spending on AI software and hardware would reach $138 billion this year and grow at a rate of 23% in the next three years.

All that investment fuels an equally explosive jobs market. The job-search site ZipRecruiter showed more than 60,000 AI-engineer jobs listed. Those roles pay very well, with annual compensation as high as $304,500.

Business Insider analyzed US visa-application data from the first quarter of 2021 for permanent and temporary foreign workers to find out what 10 top AI companies pay engineers, researchers, and other professionals in the field of big data and machine learning.

Waymo relies heavily on AI to train the software that controls its autonomous vehicles. The Alphabet unit pays $122,000 to $300,000, depending on the type of job and location, according to the data.

Here’s the full salary data for Waymo, Snowflake, UiPath, Databricks, DataRobot, Samsara, ByteDance, Cruise, Dataminr, and OpenAI.

Read the original article on Business Insider