$75 million-funded legal services startup Atrium doesn’t want to be the next company to implode as the tech industry tightens its belt and businesses chase margins instead of growth via unsustainable economics.
Now, Atrium will focus on its software for startups navigating fundraising, hiring, and collaborating with lawyers.
And it’s also doubling down on its year-old network of professional service providers that help clients navigate day-to-day legal work.
However, it could weaken its $500 per month Atrium membership that included some services from its in-house lawyers that might be more complicated for clients to attain through its professional network.
Atrium will also now have to prove the its client-lawyer collaboration software can survive in the market with firms paying for it rather than it being bundled with its in-house lawyers’ services.
The $500 per month Atrium membership offered this technology plus limited access to an in-house startup lawyer for consultation, plus access to guide books and events.
Kan tells me Atrium still have some in-house lawyers on staff which will help it honor all its existing membership contracts and power its new emphasis on advising services.
The membership plan may change for future clients so lawyer services are provided through its professional network instead.
One concern is Atrium might not learn as quickly about what services to translate into software if it doesn’t have as many lawyers in-house.