A serial entrepreneur raised $17 million to build a Big Law alternative. Read the pitch deck.
Legal tech startup Arceus has raised $17 million to combine traditional legal services with software that automates contract review. The company aims to disrupt the 'Big Law' model by significantly reducing the time required for standard legal agreements.
Why it matters
It represents a growing trend of 'neofirms' using automation to challenge the traditional, high-cost billing models of established law firms.
Mac Liu. Arceus Arceus combines a law firm staffed with attorneys with software built to speed up contract review. A new fundraise brings the company's total funding to $17 million. Arceus shared the pitch deck it used to raise the new round of funding. Mac Liu isn't a lawyer, but he knows how to build a tech startup. The two-time founder is betting that edge will separate his new law firm from a crowded field of neofirms. Liu's startup, Arceus, combines a law firm staffed by attorneys with software built to speed up contract review. The company says it can shrink the time it takes to review a standard agreement from days or weeks to a few hours. If a review takes more than eight hours, it's free. On Thursday, Arceus said it raised new funding led by Greycroft, bringing its total funding to $17 million.
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