Legal tech startup Atticus, after 7 years of bootstrapping, secures $10.8 million from VCs in first raise, showcasing profitability and ambition.

• Legal tech startup Atticus, bootstrapped and profitable, secures $10.8 million from VCs after 7 years
• Atticus, founded in 2017, offers document review software for law firms and listed entities
• CEO Thom Mackey plans to use the funding for sustainable growth and international expansion
• Atticus has gained significant traction with Australia’s corporate legal firms and UK’s top law firms
• Skip Capital CEO praises Atticus for streamlining the verification process for legal and investor documents

Bootstrapped & Profitable Legal Tech Startup Atticus Takes on $10.8 Million from VCs in First Raise after 7 Years

In the fast-paced world of legal tech startups, Atticus has made a significant mark by securing $10.8 million from venture capitalists in its first funding round after seven years of bootstrapping. This Melbourne-based startup, named after the iconic lawyer in “To Kill a Mockingbird,” has been founded by recovering corporate lawyer Saul Wakerman and former Palantir software engineers Misha Wakerman and Mitchell Brunton in 2017. The team at Atticus has developed cutting-edge document review and verification software that is utilized by some of the world’s largest law firms and listed entities to fact-check critical documents such as IPO prospectuses, ESG statements, and annual reports before their public release.

Revolutionizing Legal Verification

Atticus was established with a vision to streamline the laborious and time-consuming process of legal verification of essential corporate and legal documents, thereby mitigating core compliance risks for its global clientele. CEO Thom Mackey emphasizes that the software provided by Atticus offers a faster and more accurate solution, giving investor relations, company secretary, and legal teams across five continents the confidence that their documents are accurate and verified. The platform centralizes documents, maintains version control, and minimizes manual errors, offering an auditable process that simplifies the tracking of high-stakes information across various mediums like spreadsheets, emails, and documents. The ease of use and time-saving features of Atticus have garnered widespread acclaim among its users.

Impressive Clientele and Growth Trajectory

Atticus has managed to secure the loyalty of 90% of Australia’s corporate legal firms, including big names like King & Wood Mallesons, Gilbert + Tobin, Herbert Smith Freehills, Ashurst, Clayton Utz, and Allens. Additionally, nearly a third of the UK’s top 30 law firms have also adopted their services. The company has witnessed a doubling of revenue annually since 2021, highlighting its rapid growth and market penetration. By 2022, Atticus’s platform was instrumental in verifying over 1,300 Australian disclosure documents, including half of all ASX IPO listings and a third of listings on the London Stock Exchange. Notable clients such as BHP and CBA further validate the platform’s credibility and effectiveness.

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Endorsement from Industry Leaders

Skip Capital CEO Kim Jackson commends Atticus for providing a crucial solution that simplifies the once arduous manual process of document verification for legal and investor documents. The platform’s ability to save time and enhance user experience has generated significant excitement among customers, underscoring the team’s expertise in addressing a critical industry need. With the increasing focus on regulatory compliance and ESG governance requirements, Atticus is positioned as a key player in assisting companies and legal teams in navigating these complex challenges. The endorsement from industry leaders like Kim Jackson solidifies Atticus’s reputation as a valuable asset in the legal tech landscape.

Atticus’s success story exemplifies the potential of innovative legal tech startups to revolutionize traditional processes and enhance efficiency in the legal industry. By combining cutting-edge technology with a deep understanding of client needs, Atticus has carved a niche for itself and is poised for further growth and expansion in the legal tech market. With the recent injection of $10.8 million in funding, the company is well-positioned to scale its operations, introduce new product offerings, and expand its presence in international markets, solidifying its status as a rising star in the legal tech sector.