Hire anesquire investordeck_10-23-13
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Hire anesquire investordeck_10-23-13 Hire anesquire investordeck_10-23-13 Presentation Transcript

  • Staff Differently Enterprise Legal Staffing, Turbocharged
  • Wolf Block 2009 R.I.P. BIG LAW? Thelen 2008 Heller Ehrman 2008 ??? 2013 Howrey 2011 Dewey & LeBoeuf 2012 The Law Firm Business Model is Dying -The Wall Street Journal, 05-29-12 2   2
  • The Problem Inefficient, antiquated staffing processes do not scale specialized labor 40% 50-100% Staffing agency markup of firm revenue goes to labor costs 40% of firms hire staff to manage vendors inefficiencies
  • Traditional staffing services A manual, disparate workflow creates a recruiter-led 3 ring staffing circus Availability Updated Resume Interviews Conflicts Confirm Time Sheets Approval Invoicing Payment Recruiter Project Manager Attorneys
  • The Solution Technology streamlines, automates & optimizes the staffing process 50%+ cost & admin time saved 5  
  • The Product Find, Manage, Pay & Maintain a Vetted Flexible Team As 1099 Independent Contractors or W-2 Hire an Esquire Employees Find Manage Pay No Startup Costs—only a transaction fee on hours billed • Independent Contractors = 9.5% • W-2 Employees = 35% 6  
  • Competitive Advantage Online Job Markets Staffing Agencies Hire an Esquire Example Transparent ✔ ✖ ✔ Efficient ✔ ✖ ✔ Enterprise HR ✖ Industry Tailored ✖   ✔ ✔ ✔ ✔ 7  
  • The US Legal Labor Market Contract work will grow in popularity, as firms try to be flexible to demand shifts IBIS World Industry Report, Law Firms in the US, October 2011 Current Addressable Market Contract Labor $21B Future Market Opportunity Permanent Labor $90B 8  
  • Financial Projections Scale Quickly with just 1 new client per quarter, and new market every 6 months Key  Metrics   •  User (attorney) acquisition cost = $0.10 •  Customer (law firm) acquisition cost = $7.7 K •  Lifetime value of a customer = $24.8 M •  Sales Cycle = 6 months (reduced from 12 months) 9  
  • Company Milestones Expected revenue of $150K in 3 mo Lifetime billings triple 2011 2012 2013 1099 Beta W-2 Product Launch Launch July   August   September   October   November   First AM Law 1,000 Attorneys, 10% monthly Staffing 5 Finalize contracts 200 Client 50 firms growth rate projects @ 2 Am with 5 additional Law 200 Firms + AM Law 200 firms 1 in-house dept Bootstrapped   High  Growth   Press: 10  
  • Raising $350k Seed Round 9-12 months of operating expenses to Series A in mid/late 2014 Round Details •  •  •  Terms •  •  •  •  •  •  Committed Investors •  •  •  •  •  •  Priced round Preferred shares 1x liquidation preference (not participating) Voting rights Options pool added Valuation: $2.75 million pre-money $250 K committed $100 K to remain open through end of November Lead investor - notable Silicon Valley VC for 30+ years Law partner Successful entrepreneurs Senior exec @ SAP Senior exec @ Lending Club Wall Street veteran Follow on from friends & family 11  
  • TEAM Julia, CEO + Founder AmLaw 100 Attorney & Industry Expert Sprint + Xerox Sales Mgr 15 yr Enterprise & Consumer Developer Big 4 Consultant & Salesforce.com veteran TECH SALES Barbara Dave, CTO + Founder Jules, COO + Founder Dan Full Stack Python Ninja, Startup Veteran Andy Edwin AI Software Strategy, Product Guru, Half.com Startup Team DARPA integration lead Hire an Esquire’s recently confirmed advisory board includes senior SAP, Lending Club, law firm & Wall St. executives and is accelerating traction with key C-Level introductions & valuable advice. 76.25% women owned 12  
  • Thank You!   Julia Shapiro Cofounder & CEO, Hire an Esquire julia@hireanesquire.com Jules Miller Cofounder & COO, Hire an Esquire jules@hireanesquire.com 13