Robert Ambrogi BlogElevator Pitch: Truve is a new, simple-to-use, first-of-its-kind law firm intelligence technology designed to help law firms structure and leverage their data. It’s the data hub, analytics, and productivity platform for the law firms of the future.
What makes you unique or innovative? We have uniquely created a Case Value Estimation AI tool looking over 100 data points to understand key factors impacting the value of the cases. We then use this information to maximize case values.
What problem do you solve? Law firms are overwhelmed with the amount of data and information that they get with all the digital tools they are using today & the number of technologies increase. There is no one centralized intelligence & analytics platform that allows law firms to understand their operations & scale efficiently.
Your competitors? Domo.com has basic reporting/dashboarding for some of the case management systems. Litify can build some basic dashboards using Tableau. Other than that, there are smaller consulting companies that do analytics for law firms on a project-by-project basis. There is no end-to-end analytics platform specifically for law firms to our knowledge.
Demo video: Not available publicly but we give demos
Founded: 4/12/2022, Atlanta, GA
Target customer. Mid to large size law firms specifically active in personal injury law. We have extended our product to Worker’s Compensation as well and looking to expand into other practice areas in the future.
Price. N/A.
Expected 2022/2023 gross revenue? Less than $1M/$1M – $5M
Number of users/paying customers? < 100/< 20
Traction to date. We are slowly taking additional customers as we scale our platform and increase the number of integrations. We recently signed an agreement with a mastermind group and are expected to add another 20-40 law firms from that mastermind group.
Plan for growth over next five years. Planning on having a seed round investment later this year ($6-10M round), and a series A in the end of 2024- early 2025.
Outside funding. No outside funding
Describe any ways in which your company is diverse or promotes diversity. We are a natively remote company and have team members in 7 different countries. We have recently added a Chief Happiness & HR Officer to promote more inclusive and diverse environment and will continue to do so.