Promising Legal Startup Atrium Closes

Hybrid legal software and law firm startup Atrium has closed following a failure to deliver the delivery services it aimed to handle.

LawFuel reported last month on layoffs, but the legal startup has now laid off all employees, over 100, and will return over $75 million start-up funding to investors.

“I’m really grateful to the customers and the team members who came along with me and our investors. It’s unfortunate that this wasn’t the outcome that we wanted but we’re thankful to everyone that came with us on the journey,” said founder Justin Kan.

He’d previously founded Justin.tv, which pivoted to become Twitch and later sold to Amazon for $970 million. “We decided to call it and wind down the startup operations. There will be some capital returned to investors post wind-down,” Kan said.

 Atrium was founded in 2017 and built software for startups to navigate fundraising, hiring, acquisition deals and collaboration with lawyers.

The startups also offered in-house lawyers that could provide counsel and best practices in these matters. The idea was that the collaboration software would make its lawyers more efficient than a traditional law firm so they could get work done faster, translating to savings for clients and Atrium.

Atrium had attempted to pull back from its law services to become a pure startup operation, with a separate law operation as a standalone business. However despite the better margins promised by the tech business it was not something that was able to provide the efficiencies sought.

Latest LawTech News on LawFuel

• Working From Home Has Its Challenges… Small Things Employers Can Do to Help
  By Rebecca Hudson What’s the Problem: My daycare and commuting circumstances have changed and I would […]
• Smart Search launches dedicated anti-money laundering service for businesses adapting to remote working
  Experts advise businesses to invest in automated AML platforms as workforces and customers move […]
• Law Firm Launches Consulting Service To Complement Legal Services
  Powered by LawFuel – International law firm Ashurst has broadened its client offering with […]
• Promotions To Principals at Todd & Walker
  TODD & WALKER Law is extremely proud to be able to announce some positive […]
• DWF Growth Slowed By Coronavirus Effect As Shares Slump
  Listed law firm DWF slumped after an announcement (below) announcing reduced revenues and sending […]
• Modern Slavery is A Growing Problem Across the World
  4-5.co.nz – Inextricably linked with organised crime groups, it covers a far wider range […]
• Littler COVID-19 Survey Reveals Top Employer Concerns and Workplace Implications
  Powered by LawFuel – (March 30, 2020) – Littler, the world’s largest employment and labor […]
• New Chair at Buddle Findlay as Firm Celebrates 125 Years
  Powered by LawFuel – Known for her resilience and forward-thinking, Jennifer Caldwell is a […]
• Former Chen Palmer Partner Joins Wellington Chambers
  Former Chen Palmer partner Nick Russell has left the firm he joined 15 years […]
• New South Wales Law Society Reduce Fees by 90 Per Cent After COVID-19
  In order to better support members across the state during COVID-19, the New South […]
• Entrepreneurial QC Takes Online Initiatives Further During Viris Lockdown
  The Coronavirus lockdown has undoubtedly brought the use of online courts and mediation – […]