How We Just Raised $6M At An $80M Valuation From 100+ Investors Using A Link (Without Pitching)

Three years ago, Lawtrades almost went bankrupt.

We’d failed to raise a Series A or generate any interest among VCs.

Last month, we closed $6M in funding (at an $80M valuation) from more than 100 customers and investors, using a link and no pitching.

Here’s how it happened, step by step.

First, we pivoted, redefining our business

While we watched Justin Kan raise $75M for Atrium — a competing legaltech startup at the time — Lawtrades managed to raise only $3.7M. By comparison, we looked like a bit player, unworthy of serious interest.

We faced an existential decision: Shut down the company or try something radically different.

As I’ve written previously, it was a pivot that saved us. Our initial focus on small-to-midsize businesses (SMBs) attracted a lot of customers — who, unfortunately, weren’t profitable. SMBs often needed legal services on a one-off basis, meaning low fees and lots of churn.

But fast-growing tech companies were different. Their general counsels (GCs) needed ongoing support on a near-daily basis — higher fees and lower churn than SMBs.