Atrium
2017 - 2020, 3 years old
A law firm and software company that promised to automate startup legal work with machine learning.
Atrium opened in September 2017 as a hybrid: a law firm staffed by traditional attorneys paired with Atrium LTS, a software arm building tools to digitize contracts, generate cap tables from term sheets, and automate routine legal work. Andreessen Horowitz led a $65 million Series B in 2018 on the pitch that machine learning would erode billable-hour pricing. The technology did not move fast enough to justify the cost structure. In January 2020 Atrium laid off most of its in-house lawyers and tried to become a pure software company, but customers churned and a follow-on round did not come together. On March 3, 2020, Justin Kan announced Atrium LTS was shutting down and laying off its remaining staff of about 100. The standalone law firm spun out separately.
- Founded
- 2017-09
- Shut down
- 2020-03-03
- Funding raised
- $76M
- Years alive
- 3
- Founders
- Justin Kan, Augie Rakow, Bebe Chueh, Chris Smoak