The Exchanges

Q What breaks that people don't see, and what are the lessons from that?

A So, things like the plumbing and rev ops of, like, how you do billing and your billing systems and, like, If you want to change anything in your pricing model, if you want to change anything in your billing system, and you're adding as many customers as we are every month, it gets very hard to do things like, you know, like some of the, you know, billing systems, you know, reporting and all that stuff. And a lot of it gets done manually at times, because if you're changing from one system that worked for you at ten million, that doesn't work for you at a hundred million, and you have to make those changes. Like we, we migrated CRM. So we migrated to Salesforce, which is awesome. But anytime you do a CRM migration, it's a huge pain in the ass.

AI assessment note: “things like the plumbing and rev ops of, like, how you do billing”

Q What level of contract do we need to justify an FDE model, which is more costly? It's human hours upfront. It's margin reduction. What level of ACV do you think is needed?

A Well, it's a great question, and people keep asking me why we raise so much money, and I'm like, lawyers are expensive, man. You know, it's like, it's, uh, you know, we can afford to take, you know, to take this sort of human, this very human-centric approach right now, but we do it for, you know, pretty much anything in, in, in six figures and above. Um, you, you've gotta really lean in and make that, make it happen, because otherwise what you do is you sell, you're in danger of selling software that doesn't get used, and our, we're very focused on, You know, again, like I said, adoption frameworks and making sure that if we sell you 10 licenses that you use all 10 and you get a lot of value out of it.

AI assessment note: “we do it for, you know, pretty much anything in, in, in six figures and above”

Q What breaks that people don't see, and what are the lessons from that?

A So, things like the plumbing and rev ops of, like, how you do billing and your billing systems and, like, If you want to change anything in your pricing model, if you want to change anything in your billing system, and you're adding as many customers as we are every month, it gets very hard to do things like, you know, like some of the, you know, billing systems, you know, reporting and all that stuff. And a lot of it gets done manually at times, because if you're changing from one system that worked for you at ten million, that doesn't work for you at a hundred million, and you have to make those changes. Like we, we migrated CRM. So we migrated to Salesforce, which is awesome. But anytime you do a CRM migration, it's a huge pain in the ass.

AI assessment note: “things like the plumbing and rev ops of, like, how you do billing”

Q Um, what would you do if you had unlimited money that you're not doing today?

A It's, it's less about money and more about time. And the hardest thing that we have right now is taking the time to sort of pause and think about ways of working and like our operating model. And I'd love to, for example, do a two day bootcamp where we bring in some AI experts and we go through every part of every process of every go to market team and every motion and build more automation and more agents To do more things, to take sort of that rote work off of my team's plate so they can focus on, you know, those things that have the highest and biggest impact. The money is, it's more about time than, than money right now. And, and how taking that time to, to think strategically and get everyone together in person is so, there's so much value. Every, we did our sales kickoff at the beginning of the year in Stockholm. There was so much learning. There was so much relationship building that happened. I wish we could do that stuff, you know, All the time. And just the speed of development of our business, we don't have time to get together in that way, and that's something I wish we were able to do a lot more of.

AI assessment note: “I'd love to, for example, do a two day bootcamp where we bring in”

Q We're forced to think through like, shit, maybe we need to be energy investors. Maybe we need to be infrastructure investors. And you are struck with this, am I good enough to make the jump? How do you reflect on that?

A For me, it's more about being super intentional about what I want and my vision for myself. And honestly, people ask me, what do you want to do next? Like, I'm doing it. Like, this is what I've always wanted to do. Like, the job I'm doing right now is the job I've wanted to do for a really long time. But more often than not, in this world, it's more around, like, did you bet on the right horse? So I took a, you know, I took a bat after leaving Braze and went to another company. And it didn't, didn't work out. I was working really hard. I was doing all kinds of things that I thought were smart, and we just weren't seeing the results. And then, you know, come to Legora, right place, right time, right market. And so much of our success has to do with the company, the team, and the market that we go into. It's like, you know, it's like sports. You put the wrong person on the wrong team and the wrong system, like they're not going to be as successful as they would have been otherwise. And I just feel very fortunate.

AI assessment note: “so much of our success has to do with the company, the team, and the market”

Q Do you think Salesforce faces the threat of being a database which agents crawl on top of and you have no interaction slash engagement with?

A I think all the traditional SaaS companies are definitely under threat right now, but I have to say I've been so impressed with Salesforce. If you look at, they, they sort of Did a hard break glass in case of emergency pivot last year. And at their scale, they went full, they went full agentic and sort of the go to market framework and positioning and, you know, credit for them for being, you know, they're very early on that ahead of every other big tech company. And I don't know how it's going to shake out, but I know we did a survey of all the other sort of hyperscaling AI companies and most of them are using Salesforce.

AI assessment note: “I think all the traditional SaaS companies are definitely under threat right now”

Q Um, what would you do if you had unlimited money that you're not doing today?

A It's, it's less about money and more about time. And the hardest thing that we have right now is taking the time to sort of pause and think about ways of working and like our operating model. And I'd love to, for example, do a two day bootcamp where we bring in some AI experts and we go through every part of every process of every go to market team and every motion and build more automation and more agents To do more things, to take sort of that rote work off of my team's plate so they can focus on, you know, those things that have the highest and biggest impact. The money is, it's more about time than, than money right now. And, and how taking that time to, to think strategically and get everyone together in person is so, there's so much value. Every, we did our sales kickoff at the beginning of the year in Stockholm. There was so much learning. There was so much relationship building that happened. I wish we could do that stuff, you know, All the time. And just the speed of development of our business, we don't have time to get together in that way, and that's something I wish we were able to do a lot more of.

AI assessment note: “It's, it's less about money and more about time.”

Q Who has the power? Does the PE firms have the power over the law firms? Or does the law firms have the power over the PE?

A I think it depends on the firm and depends on the, on the VA company for sure, because, but there's definitely a lot of interconnectivity. And one of the most fun things about selling into this market is that every deal is very different. Like selling to a law firm, there's a lot of personalities. Stakeholder management is, is, can be, is very different from, from firm to firm. So there's innovation teams, there's knowledge management, but there's also partners and the degree to which partners want to lean in and get involved. And then there's AI committees and there's all these subcommittees and all these different things. So it's, it's very intricate, the decision-making processes, and one client of a firm might have an outsized voice at the table for, you know, for or against you, as an example. You have to be very mindful of that. That sort of map is very complex.

AI assessment note: “one of the most fun things about selling into this market is that every deal”

Q a two-sided fight, or however we want to say, it's a war, it's you versus Harvey. How do you advise founders? I don't want to make this like Lagora versus Harvey. How do you advise founders? Because there are a lot of markets where it's Brax versus Ramp, or Stripe versus Airwallex, whatever. How do you advise founders when it's one versus the other, when you're in that sales process?

A At the end of the day, it comes under preparation and execution. And, and one of the camp, one of the companies I, I really admire and try to model after his ramp, like you said, and we, we talk a lot about, about them internally in terms of how they've built the execution layer from a go to market perspective. If you've talked to anyone who's engaged with like a ramp sales team, they're always prepared. They don't have to like take things back to get answers, right? There's, there's a degree of professionalism and preparation that goes into every conversation. And, and also, You know, if you think so often in go to market, people talk about using AI to automate different processes like, oh, I want to like, you know, update my opportunity notes or like draft this email. And, and of course we do all that stuff. But the other thing that people don't think enough about is like, what, how are you using AI to sort of deliver more like differentiated from a services and insights perspective? We have a lot of data from, from like pilot participants. How can we give, you know, insights into that data that are going to help the, the firms and the companies that we work with make decisions around Adoption frameworks, ROI, and things like that.

AI assessment note: “At the end of the day, it comes under preparation and execution.”

Q Who has the power? Does the PE firms have the power over the law firms? Or does the law firms have the power over the PE?

A I think it depends on the firm and depends on the, on the VA company for sure, because, but there's definitely a lot of interconnectivity. And one of the most fun things about selling into this market is that every deal is very different. Like selling to a law firm, there's a lot of personalities. Stakeholder management is, is, can be, is very different from, from firm to firm. So there's innovation teams, there's knowledge management, but there's also partners and the degree to which partners want to lean in and get involved. And then there's AI committees and there's all these subcommittees and all these different things. So it's, it's very intricate, the decision-making processes, and one client of a firm might have an outsized voice at the table for, you know, for or against you, as an example. You have to be very mindful of that. That sort of map is very complex.

AI assessment note: “one of the most fun things about selling into this market is that every deal”