Our Investment in Law Firm 2.0

Every time we make an investment, we blog about it on our Foundry Group site.  Today, I’m especially excited about our latest announcement, as the company is a "bulls eye" in my Law Firm 2.0 thesis

You can read all about FirstDocs on the Foundry post, but what I’ll tell you shortly here is that they are a Westwood, MA located legal process automation company that I believe, are poised to change the way law firms and in-house legal department deliver value to their clients.

I’m particularly excited about this opportunity given that the CEO Dan Gaffney reached out to me after having read several of my posts about the inefficiencies in the legal ecosystem.

At the time, Dan thought it would be nice to get to know me, see if I could provide him any customer leads, show me the demo, etc.  Being a venture capitalist, I wasn’t sure if I was getting the softest fundraising sell of all time, or if they didn’t need any money, so I asked.   

Dan said they were all set for money and had customers.  I remember being a little sad, but still excited about what they were doing, so we kept in touch. 

Over the next few months, however, our conversations really intensified and the ideas on how to take their already released product to a completely new level began to take shape.  It was at that time, I began to sell the Foundry Group to Dan in hopes that he’d consider taking some money from us and thus, allowing me to join the board of directors.

I’m happy to say – mission accomplished!  I’m very excited to work with Dan, Luke, Anil, Muthu and the rest of the FirstDocs team.  Hopefully one day I’m writing a Law Firm 2.0 post about the increased efficiencies of lawyers!