Get the latest market trends in your inbox
Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul
Tampa-St. Petersburg news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg
Atrium co-founders (left-right) Justin Kan, Nick Cortes and Augie Rakow. Photo: Atrium
Atrium, a business law firm startup that automates much of its attorneys’ menial work, has raised $65 million in new funding led by Andreessen Horowitz.
Why it matters: "When you figure out how to do something faster, you lose money,” Atrium co-founder and CEO Justin Kan tells Axios of the legal industry’s traditional lack of incentive to work more efficiently.
Kan adds that the company already has more than 250 corporate clients, who pay per project or monthly subscriptions, rather than on an hourly rate. They include: Bird, MessageBird, SiftScience, and a number of Y Combinator alumni.
Atrium VC? Not at the moment, said Kan when asked if the firm is rendering services in exchange for startup equity. "I would like to do that eventually, actually, but I don't want to confuse the success of the company's business."