Lawmatics Raises $10M in Series A Funding: An Open Letter from CEO Matt Spiegel
Just over four years ago, we set out on a journey. A journey to initiate a shift and transform the way law firms think and operate — less like a law firm and more like a business. Though it would undoubtedly be a tough and lengthy process, we knew that a fundamental problem in our industry was left unsolved and that we had the vision to meet that challenge head-on.
Today, that journey hits an exceptional milestone — one all budding companies such as ours often only dream of achieving: a round of Series A funding. We are proud and excited beyond words to announce that we have raised $10mil in fresh capital, designed to take the Lawmatics platform to the next level. This funding represents a new beginning for Lawmatics!
As with any round of funding, the same questions tend to surface. What will the money be used for? What does this mean for our customers? In response, I want to take a moment to answer those questions with as much transparency as possible.
We raised this money in order to scale Lawmatics.
More money means more people: more people to build the product; more people to aid our customers in their successful use of the platform; more people to help get Lawmatics in front of more people; and more people to interact with our customers and understand their problems that need solving.
Increased cadence in product development
As we scale the number of engineers on the team significantly, Lawmatics users can expect a much higher frequency of updates to the platform. One major catalyst for completing this fundraiser at this juncture was the Lawmatics platform itself. We have an exceptionally enthusiastic and vocal customer base. They are a wellspring of incredible feedback and ideas on making the platform better. And we listen to those customers intently; they drive us to want to move faster. This new war chest will allow us to do just that: We aim to move quicker than we ever have to add the features, functionality and usability that our customers want into the platform.
Enhanced customer success
Providing a great customer experience is in our DNA. This fundraise will ensure that we can continue to deliver on our promise to our customers to provide industry leading customer support and onboarding services. Already, we’re seeing stellar new additions to the team and look forward to the influx of Lawmaticians joining us over the coming months.
A personal thank you
On a personal note, this raise means so very much to me. I want to extend a big thank you to each and every one of our customers and team members who have allowed us to grow to this point. If not for our incredible customers and team, we would not be able to focus on bringing best in class solutions to our law firm customers.
Building a company is like having a child. You start it from nothing and nurture it to the best of your abilities. With any luck (and a lot of elbow grease), it’ll grow well beyond its infancy through adolescence and adulthood. While we are still very much in the infancy phase — and hope to preserve our ‘startup’ culture for as long as we possibly can — this round of funding represents a “growing up” of sorts of Lawmatics. And as I reflect, I couldn’t be more proud of the team that we’ve assembled that is so foundational to our success. We are perfectly situated to scale because of the great people we have here now.
When we founded Lawmatics, I did not know what we would become. I had no idea what to expect, nor could I imagine how big of a company we could build. Now, our expectations are enormous, and our goals even more so. I can’t wait to see what this team accomplishes with this great, new wind in our sails.
– Matt Spiegel, Co-Founder and CEO