Litigation may not be easily disruptable in the Silicon Valley sense of the word (Doc Brown was wrong about 2015), but it most certainly can be optimized. LegalTech startups that are focused on litigation, and more specifically legal process outsourcing (LPO), are nothing new. Pangea3, Mindcrest, LawScribe, are just a few of the more well-known LPO companies out there injecting tech into litigation. One of the new kids on the block that’s focused on LegalTech for litigation is FactBox, which offers a litigation-practice software that, in a nutshell, keeps track of all the facts/evidence in a case and generates work product in a simple and intuitive way.
LI: What litigation problem does FactBox endeavor to solve?
LK: Finding and sourcing key facts through the long life of a case – particularly when you have dozens, hundreds, even thousands of cases at a time – is extremely frustrating and time-consuming (and not in a billable way). FactBox strikes at the heart of this problem and at the same time doesn’t require litigators to change their work process.
Our customers have described FactBox as “the holy grail for lawyers” and “the first software really made for me.” There is a ton of innovation in the business of law but litigators primarily use old-tech like word docs or overly complicated software for their practice of law, and that’s been enormously frustrating for them.
LI: Has your business model changed significantly since you first started?
LK: Because of the founders’ backgrounds as corporate investigators, most of our relationships are with litigators at Big Law firms who were really excited for per-case billing and that was our initial business model. As soon as we launched, the smaller law firms asked for per-seat or per-firm pricing and that’s how we price FactBox now – on a tiered per-user basis. FactBox solves a problem that affects all litigators regardless of the size of the firm; we have customers across the spectrum and are more flexible with how we charge for access to FactBox now.
LI: As one of the most exciting new LegalTech start-ups, what advice do you have for businesses trying to build products and services for law firms?
LK: I think there’s a misconception that lawyers measure success by profitability when in fact it’s usually about doing great work for clients. Of course lawyers do care about profitability and business growth; but their primary motivation is doing fantastic work representing their clients. Lawyers want more tech tools to do that; and (2) lawyers and law firms are skeptical and slow to adopt for good reason – they are legally and ethically bound to care for their clients’ most confidential matters. In LegalTech there is a huge opportunity for innovation, but do respect the need for deeper scrutiny.
LI: Do you have any new products or upgrades coming that we should know about
LK: We’re adding new features every week. The next two big upgrades coming up are: (1) integration with more litigation-practice software like doc-review platforms and doc-management systems; and (2) mobile. We were surprised by the massive adoption of mobile within the legal community and will soon offer a mobile-specific app for FactBox.
LI: What does your ideal customer look like?
LK: Nearly across the board, the FactBox customer is a litigation partner, usually in his 40s or 50s, and using technology in his personal life. These partners have figured out that with profound tech tools, they can be more efficient with their time to improve the representation of their clients.
LI: LegalTech is becoming a very tight community– are you involved in other legaltech events and networks?
LK: The LegalTech community is small and super supportive. We are part of a LegalTech group based in New York which gets together for quarterly happy hours and ongoing idea-sharing. Josh Kubicki, David Perla and Rob Saccone’s LexRedux is a most-go event as is ReInvent Law that coincides with the LegalTech trade show in NYC in February.
Additionally, there is a seemingly higher proportion of female CEOs in the LegalTech space. Women such as Jules Miller and Julia Shapiro of Hire an Esquire; Mary Juetten of TrakLight; Alma Asay of Allegory Law; Basha Rubin of Priori Legal; and Yael Citro of LawPal for example. A good sign that LegalTech is a truly disruptive industry.