Family office launch guide: who to know when you’re opening or hiring for a family office

Todd Angkatavanich, Natasha Pearl, Bill Bjiesse, and Lisa Featherngill on a pink background.
Todd Angkatavanich, Natasha Pearl, Bill Bjiesse, and Lisa Featherngill.

  • As global wealth surges, more people want to start family offices to take control of their finances.
  • Insider spoke to more than a dozen industry insiders to compile a list of 21 must-know experts.
  • See more stories on Insider’s business page.

Whether they’re rags-to-riches entrepreneurs or old-money heirs, many of the wealthy have created their own family offices to oversee their assets.

Citi estimates that as many as 15,000 family offices have been created in the past two decades alone.

Insider spoke with more than a dozen family-office professionals to find out who the wealthy go to when deciding to set up their own shops. Whether they’re lawyers or wealth managers, here are 21 must-know family-office experts.

You can read our full story if you’re an Insider subscriber: These are the 21 advisors, accountants, and lawyers to know if you’re thinking about starting your own family office

Insider also rounded up some of the must-know executive recruiters in the space, as hiring top talent is key to maintaining wealth that lasts for generations.

Meet 8 top recruiters scouting talent for family offices as the secretive wealth managers to the world’s richest look to supercharge their investing prowess

Read the original article on Business Insider

General Motors sues Ford over its ‘BlueCruise’ self-driving branding, saying it’s too similar to GM’s ‘Cruise’ and ‘Super Cruise’

Ford BlueCruise.
Ford BlueCruise.

  • General Motors sued Ford for trademark infringement over its “BlueCruise” self-driving tech.
  • “Ford knew exactly what it was doing” when it used a brand name similar to GM’s “Cruise,” GM said.
  • Ford said the term “cruise control” has been widely used for decades, Reuters reported.
  • See more stories on Insider’s business page.

General Motors on Friday filed a lawsuit against Ford over the branding of its “BlueCruise” hands-free driving tech.

Ford’s April announcement of its BlueCruise tech amounted to a “brazen attempt” to co-opt GM’s branding, the complaint said. GM said the name infringed on the trademark of its subsidiary, Cruise, and its self-driving vehicle software, Super Cruise, launched in 2017.

“Ford knew exactly what it was doing,” the complaint said. “If Ford wanted to adopt a new, unique, brand, it easily could have done so without using the word ‘Cruise,’ as shown by Ford’s branding for the same automated driving technology in their luxury car models.”

In some models, Ford’s hands-free features were branded as “ActiveGlide.”

GM in its lawsuit – filed in US District Court in the Northern District of California – accused Ford of trademark infringement and unfair competition. GM sought damages and an order that would permanently stop Ford from using the branding.

In a statement, Ford said the branding was an extension of the cruise-control features that vehicle manufacturers have long used, Reuters reported.

“Drivers for decades have understood what cruise control is, every automaker offers it, and ‘cruise’ is common shorthand for the capability,” the company said.

The lawsuit detailed a “protracted” exchange between the two companies following Ford’s April announcement. During those talks, the companies “agreed to multiple standstill agreements,” but were unable to come to a solution, GM said.

“Cruise and GM do not file this lawsuit lightly,” the complaint said.

Insider has reached out to Ford for comment.

Read the original article on Business Insider

5 pitch decks that legal-tech startups used to raise millions

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

  • Funding for legal-tech is nearing $1 billion for 2021 so far.
  • VC firms, private equity, and even traditional law players are pouring money in.
  • Check out these 5 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 market to date this year clocks in at at least $974 million – already surpassing the $603 million figure from 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.


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.


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_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 cofounder, 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


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


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 cofounded 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

Abortion-rights groups file federal lawsuit to block Texas law that would allow anyone to sue abortion providers after 6 weeks

Greg Abbott texas bar close order
Texas Gov. Greg Abbott.

  • Pro-abortion groups filed a federal lawsuit to block a six-week abortion ban in Texas.
  • The law, set to take effect in September, would allow people to sue anyone helping someone get an abortion after six weeks.
  • The groups argue that the law violates “constitutional right to privacy and liberty.”
  • See more stories on Insider’s business page.

Several abortion-rights groups and providers filed a federal lawsuit on Tuesday to block a Texas law that would allow people to sue abortion clinics, doctors, and anyone else helping someone get an abortion in the state after six weeks.

The law, signed by Texas Gov. Greg Abbott in May and set to take effect in September, invites private citizens, even those outside of Texas, to help enforce the state’s six-week abortion ban, awarding them with at least $10,000 per each successful court challenge.

The law will “incentivize anyone who disapproves of a patient’s abortion – a relative, an abusive partner, or even a stranger – to sue the provider and obtain a court order stopping the abortion,” the group of plaintiffs, including the Center for Reproductive Rights, Planned Parenthood Federation of America, the American Civil Liberties Union, along with several abortion providers, said in a press release.

The groups argue that the law violates “constitutional right to privacy and liberty as established by Roe v. Wade,” the landmark Supreme Court decision that granted the right to abortion almost 50 years ago.

The Texas law, known as SB 8, is one of a slew of restrictive “heartbeat” abortion bans recently enacted by Republican governors. The law seeks to prohibit abortions once a fetal heartbeat is detected, which typically occurs at the six-week mark, a time when some people don’t know they are pregnant.

But the Texas law is unique from the others in that it authorizes individuals, and not state government officials, to enforce the ban.

“This new law would open the floodgates to frivolous lawsuits designed to bankrupt health centers, harass providers, and isolate patients from anyone who would treat them with compassion as they seek out health care,” Alexis McGill Johnson, president and CEO of Planned Parenthood Federation of America, said in a statement. “The cruelty is the point – and we will not let it stand.”

The challenge comes as the Supreme Court is due to consider a major abortion case that could upend landmark decisions such as Roe v. Wade. The case, Dobbs v. Jackson Women’s Health Organization, concerns a Mississippi law that would ban nearly all abortions after 15 weeks of pregnancy.

Read the original article on Business Insider

Lyft and Uber driver who works in Chicago sues CDC over its mask mandate, saying it infringes on his constitutional freedoms

Passersby with and without masks walk under the red-and-yellow marquee of The Chicago Theatre on a sunny day
The Chicago Theatre. A driver in the city says he often has to refuse unmasked passengers.

  • The CDC last week was sued by a Chicago rideshare driver over its mask mandate.
  • Justin Mahwikizi, the driver, said the mandate limits his freedoms of speech and religion.
  • “It’s against my Christian beliefs to refuse service to someone in need,” he told Insider.
  • See more stories on Insider’s business page.

A man who works as a driver for rideshare apps like Lyft and Uber in Chicago last week filed a lawsuit against the CDC over its federal mask mandate, saying it was unconstitutional.

Justin Mahwikizi said in his complaint that the mask mandate limited both his freedom of religion and freedom of speech. He said that’s because he’s had to refuse service to unmasked passengers.

“It’s against my Christian beliefs to refuse service to someone in need, referring to the Good Samaritan parable of Jesus Christ and the Bible,” he told Insider in a phone interview on Saturday. “And so I’m arguing that the CDC is infringing on my religious practice rights that’s forcing me to deny service to someone in need.”

The lawsuit came amid a broader discussion about whether the CDC should update its stance on mask-wearing for fully vaccinated travellers. The CDC’s guidance from January 29 ordered all travellers to cover their faces when on public transit, including planes, buses, and rideshares.

The blue-and-white CDC sign in front of the agency's Atlanta headquarters at sunset
CDC headquarters.

Sen. Ted Cruz late last month led a group of senators in announcing a bill that sought an end to federal mask mandates for those who’ve had their shots.

Others have called for travellers to continue wearings masks. Transportation secretary Pete Buttigeig in late May said wearing a mask was a “matter of safety, but it’s also a matter of respect.”

Mahwikizi in his lawsuit sought a preliminary injunction and temporary restraining order to stop the CDC and the Dept. of Health & Human Services from enforcing mask mandates.

“The [mandate] is arbitrary, irrational, and capricious because the Federal Defendants failed to reasonably explain why other measures are insufficient to tackle the rapidly declining COVID-19 infection and death rates,” he wrote.

Insider has reached out to the CDC for comment.

Mahwikizi, who’s representing himself, said he mostly works in the Chicago area, but sometimes takes passengers into Indiana or Wisconsin. He said he’s found himself in a few situations where he had to leave potential customers behind because they didn’t have their faces covered.

“The acceptance of service is a form of free speech,” he wrote in his complaint, filed Monday in US District Court in the Northern District of Illinois.

He started drafting his complaint a few months ago. When Lucas Wall last month sued seven airlines, Mahwikizi followed the news coverage.

He said he reached out to Wall for some advice on handling federal rules and procedures, since Wall was also representing himself.

Read the original article on Business Insider

Apollo turned to law firm Paul Weiss over and over again. The lucrative client stoked tensions at the law firm and opened it up to criticism about the close relationship, insiders say.

Brad Karp, chair of Paul Weiss, and Leon Black, former CEO of Apollo Global Management with an alternating pattern of Paul Weiss and Apollo Global Management's logos on a blue background
Brad Karp, chair of Paul Weiss, and Leon Black, Apollo’s founder and former CEO.

  • Over the past decade, private equity giant Apollo has boosted the coffers of law firm Paul Weiss.
  • But the cozy relationship has come at a cost, insiders say.
  • Insider spoke with dozens of experts to find out how the relationship has changed the law firm.
  • See more stories on Insider’s business page.

Private-equity giant Apollo Global Management has boosted the fortunes of law firm Paul Weiss to the tune of $100 million in annual billings and lifted its dealmaking profile, leading to nearly 100 mergers and acquisitions in which Paul Weiss advised Apollo and its affiliates, according to Dealogic.

But there has also been a cost to the cozy relationship, according to interviews with 13 people who have worked in its corporate department over the past decade.

Insider also interviewed several dozen others, including current and former Paul Weiss attorneys, consultants, and recruiters, as well as competitors, to offer an account of how Paul Weiss became so involved in Apollo’s business – a relationship one former firm lawyer likened to a plot line in the TV show “Mad Men,” when executives at a fictional ad agency scrambled to please its Big Tobacco client, Lucky Strike.

SUBSCRIBE TO READ THE FULL STORY: Law firm Paul Weiss’ relationship with Apollo has been lucrative. Insiders say it’s also sowed tensions within the firm and altered its DNA.

Read the original article on Business Insider

The Cost of Inequity: How and why inequity persists in the institutions that govern daily life in America

A receipt with the words "The Cost of Inequity" written on it on on a blue background.

Inequity, not to be confused with inequality, is the result of injustice and cultural exclusion. Cost of Inequity explores how and why inequity persists in the institutions that govern daily life in America while illustrating the real economic cost to society.

From education to the workplace, banks, healthcare and more, this series examines the historical causes, current policies and societal norms that perpetuate unfair, avoidable differences for marginalized groups.

Insider also conducted a survey of over 1100 American workers to examine the challenges businesses face in fulfilling DEI programs. Detailed results of the survey will be published in the coming weeks.

Read the original article on Business Insider

Jeff Bezos accused his girlfriend’s brother of hiding ownership of a $2.5 million property to avoid paying his legal fees, court filings show

Michael Sanchez Jeff Bezos
Michael Sanchez, left, and Amazon CEO Jeff Bezos.

  • Jeff Bezos said in a court filing that Michael Sanchez tried to avoid paying a defamation judgment.
  • The filing accused Sanchez of transferring his California residence to a limited liability company.
  • Thursday’s court filing marked the latest development in an ongoing legal battle.
  • See more stories on Insider’s business page.

Amazon CEO Jeff Bezos on Thursday said in a court filing that his girlfriend’s brother tried to avoid reimbursing his legal fees by hiding his ownership of a $2.5 million property.

The brother, Michael Sanchez, unsuccessfully sued Bezos and his security chief, Gavin de Becker, for defamation. Sanchez was ordered to reimburse $254,404 in legal fees.

Bezos’ filing in Kings County Superior Court reportedly said Sanchez used a shell company to hide his ownership of a West Hollywood home, which was up for sale. The filing amounted to “bullying,” a lawyer for Sanchez told the Seattle Times.

“Earlier this week, Mr. Sanchez authorized his team to coordinate with Mr. Bezos’ counsel concerning payment of the judgment,” attorney Tom Warren said in a statement sent to the newspaper.

He added: “Had Mr. Bezos’ attorneys bothered to reach out to Mr. Sanchez’ counsel before filing a lawsuit against him, they would have known that to be the case.”

The filing marked the latest development in an ongoing legal battle between Bezos and Sanchez.

The pair have been in a legal squabble since The National Enquirer in 2019 broke the news of Bezos’ affair with Lauren Sanchez, a former TV anchor. The outlet obtained nude photos of the Amazon founder, along with private texts.

Bezos in a February 2019 blog post said The National Enquirer’s then-parent company, American Media, was blackmailing him. At the time, de Becker told The Daily Beast that Michael Sanchez was “among the people we’ve been speaking with and looking at” as they tried to figure out who leaked the texts and photos.

Sanchez then filed a defamation suit against both Bezos and de Becker.

The suit was dismissed, and Bezos sought about $1.7 million to cover his legal fees.

Judge John Doyle of Los Angeles County Superior Court in March said Bezos would instead receive $218,385 for legal fees, plus an additional $36,000 for other costs.

Sanchez has not yet paid Bezos and de Becker, the Seattle Times reported on Friday.

Read the original article on Business Insider

Check out 5 pitch decks that legal-tech startups used to raise millions

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

  • Funding for legal-tech is nearing $1 billion for 2021 so far.
  • VC firms, private equity, and even traditional law players are pouring money in.
  • Check out these 5 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 market to date this year clocks in at $974 million – already surpassing the $603 million figure from 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.


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.


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_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 cofounder, 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


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


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 cofounded 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

Check out 5 pitch decks that startups looking to disrupt the legal industry used to raise millions

legal tech lady justice code 4x3

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 market to date this year clocks in at $974 million – already surpassing the $603 million figure from 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.


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.


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_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 cofounder, 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


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


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 cofounded 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

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