Atrium, a legal tech startup created by Justin Kan, has raised $65m in a round of funding led by Andreessen Horowitch, Y Combinator's Continuity Fund, Sound Venture and General Catalyst.
Kan's year-old startup has already represented a number of high-profile tech firms such as Bird, MessageBird and Alto, helping its 250 clients raise more than $500m to date. Kan, who also partnered at the accelerator Y Combinator, has brought legal and tech professionals together to provide other tech firms with a much-demanded, all-encompassing resource.
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"It was a problem I'd seen in my own experiences, where all these parts around legal were like a blocker to what I wanted to do, and the legal bills felt like Russian roulette,” Kan explained in an interview with Forbes. "It's almost like a tax you have a business owner. That's why I wanted to attack this problem."
The Twitch co-founder has mentioned that this was the side of business he has always been more interested in, even going as far to say he does not like watching streamed games, the backbone of the company he helped create. Kan said the challenge of setting up a company with staff with varied work cultures and hierarchal mentalities from different ends of the corporate spectrum has required "a lot of learning for everyone".
Atrium adopts a full-stack approach, with legal teams specifically designed with tech firms in mind. Teams have lawyers and other legal experts, business operations professionals and engineers to ensure all necessary perspectives are covered. Atrium has planned to use its most recent round of funding to help employ more legal and tech employees.