There’s been a lot of talk about using technology to make law more efficient. There’s no denying staffing ratios have changed in recent decades, but many non-lawyers look at the field astonished by inefficient processes and high costs. Justin Kan, who sold his last venture to Amazon for almost $1 billion, is doing something about it.
On Sept 14, 2017 Kan announced the founding of a new San Francisco based law firm, Atrium LLP, and associated tech company Atrium LTS. According to their website, Atrium LTS is “dedicated to providing exceptional tools and processes to transform the delivery of corporate legal services”. In short, the new firm is a corporate law firm for startup companies that serves as the testing ground for new business models and technology to make delivery of legal services more efficient.
Kan has the proven ability to innovate and scale, and in law he thinks he’s found a broken process. “I’ve raised money. I’ve done a merger. I’ve been sued. And yet every time, bills would pile up and I had no clear idea what I was paying for.” On the business side, Atrium LLP doesn’t bill by the hour. Instead it charges start-ups a fee between $2K and $10K per month for all the services they require.
The new venture has raised over $10 million in its first round of financing from a who’s who of tech venture capitalists and legal industry insiders. Reportedly, it has already helped clients raise $94 million. Atrium’s web site features well-known technology entrepreneurs including Ross Intelligence CEO, Andrew Arruda.
Kan’s vision is of client driven, efficient, and transparent legal services. He’s identified a need and has the financial and technical resources to begin the disruption of an industry that has long been resistant to change. It will be interesting to watch how Atrium succeeds and how the industry reacts.
