This exY Combinator lawyer thinks startups are overpaying for legal work and hes got a plan
News Source : Business Insider
News Summary
- Mitch Duncombe is trying to build a cheaper way for startups to get off the ground.
- His company, Vector Legal, combines a law firm staffed by attorneys with software that lets founders handle more legal work themselves.
- The company raised $5.19 million in seed funding shortly after graduating from Y Combinator's winter batch.
- Duncombe's pitch is that Vector will wrangle a startup's first contracts — and still be there when it sells for a billion dollars..
- Atrium pioneered the tech-driven law firm model before shutting down in 2020.
Mitch Duncombe.Vector Legal At Y Combinator, Mitch Duncombe saw founders spend an astonishing amount of money on lawyers.
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