A legal-tech startup that wants to become a one-stop shop for lawyers used this 18-slide pitch deck to nab a $108 million Series D

Ryan Anderson, CEO and cofounder of Filevine
  • Filevine is a legal-case-management system for lawyers.
  • It recently raised $108 million in Series D funding.
  • Here’s the pitch deck the legal-tech startup used to impress investors.

Filevine’s $108 million Series D


Filevine, a legal-case-management system, announced in April that it had raised a $108 million Series D round.

Founded in 2014, Filevine is an end-to-end platform for law firms and in-house legal teams designed to help lawyers manage their cases from intake to billing.

The Series D round was led by the private-markets firm StepStone Group, with additional funding from Golub Capital, Signal Peak Ventures, and Meritech Capital.

Presentation road map for investors


Filevine’s Series D was largely a result of inbound interest from investors, said Ryan Anderson, the startup’s CEO and cofounder.

How Filevine plans to use the funding


Filevine plans to use its fresh capital to develop and launch a couple of products.

Anderson said a legal-authoring tool would allow lawyers to quickly search through all their documents, then drop a section into a new document.

The startup also plans to release a payments tool and expand its existing core platform.

In addition to new products and marketing hires, Filevine plans to introduce partners to help customers migrate data from their old case-management systems into Filevine, helping it take on new customers at a much larger scale, Anderson said.

Filevine’s management team


Anderson, a former litigator, said he cofounded Filevine after growing frustrated with the clunky legacy software that many firms still use.

He said that apart from two members, everyone on Filevine’s management team has been on board since its seed stage.

Filevine’s big thesis


“Our big, broad thesis is that legal work is getting much harder to do,” Anderson said.

Every year the government publishes more rules and regulations, adding to the complexity of legal work.

“If you’re a lawyer, words like GDPR and FedRAMP didn’t even exist 10 years ago,” Anderson said. “It’s a new world of regulation, and it’s becoming extraordinarily burdensome to lawyers.”

Compounding the problem is a relative lack of lawyers to take on that complex legal work.

The stakes


“Legal is the intersection between a lot of different teams,” Anderson said. “Here you can see a lot of those intersection points.”

The tasks


“Those intersections result in a bunch of tasks,” Anderson said. “And there’s really never been a system that has attempted to take all of those tasks and put them into one unified platform.”

A huge market


Anderson says the total addressable market for all those tasks is huge but has been fractured into a bunch of different companies.

“Filevine has a pretty audacious goal: to take a significant number of these into one platform that can do all of it at the same time,” he said.

He said Filevine’s three core tasks are time and billing; document management; and case management.

A shift in the landscape


Law firms and legal departments are shifting to the cloud, but many firms are still server-based, Anderson said.

“If you ask a lawyer how she works remotely, they’d say, ‘I’m logging into a VPN to access a server that’s sitting in the office,'” he said. “That’s a pretty crazy way to live for 2022.”

Filevine’s solution


Filevine positions itself as the leading end-to-end platform, differentiating itself from other enterprise-management software like Onit and Litera by its breadth of signing, timekeeping, and document-management tools.

Filevine says that since acquiring the contract-management company Outlaw in May 2021, Filevine has grown Outlaw’s annual recurring revenue by 400%.

The full stack


“Each document is a matter in embryo. Every one of those contracts could become disputed, and the moment it’s disputed could become a litigated matter for the company,” Anderson said.

He said that’s why it’s important for companies to have an integrated stack where the software can easily communicate.

Customer usage


“Something we’re really proud of and stress a lot with investors is that Filevine is used. It’s a platform that receives a massive amount of engagement from its customer base,” Anderson said.

Some metrics


Filevine says that it’s had a customer net retention rate of over 130% over the past two years and that it signed more than 700 new customers in 2021.

It says the customer engagement has translated to dollars: Filevine’s annual recurring revenue grew by nearly 200% in the past two years.

Case studies


Filevine’s customers include some firms in the Am Law 200 and some Fortune 500 companies, but its base is companies with 30 to 250 people.

“Where Filevine makes sense is where your firm or in-house team is large enough where you have an alignment problem, meaning there’s things happening on the matters that you handle that you don’t know about,” Anderson said.

Filevine’s vision


“We do believe that there’s going to be a company that comes out and really combines these three core services: case management, document management, and time and billing,” Anderson said. “It’s never been done in legal, at least not successfully.”

Confidentiality slide


Final slide