Back in JanuaryAnd the NatashaCovered Juro’s Series B Tour,It added $23 million to its bank accounts. Juro hopes to end the frenzy of contract negotiation by moving workflows from Microsoft Word to a single web-based platform that allows for all aspects of contract negotiation, from negotiation to signing. This sounds like a great deck action idea. It was very helpful. GuruCollect a bunch of dollars. But is it a good top? Let’s take a closer inspection.
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Slides in this group
TechCrunch shared a set of 15 slides with the company. TechCrunch made some minor revisions to the slides. All the slides are there but the company blurred out a portion of its future roadmap as well as actual numbers for financials.
- Slide cover
- “It takes approximately 5 tools to process one contract” – Problem slide
- “Initiating MS Word contracts exacerbates the pain”-problem slide
- “We make contracts cross-browser compatible” – Solution Slide
- “Companies are switching over to Juro’s native web browser format” – Traction slide
- “ARR is $XX million+, growing predictably and sustainably” – Financial Draw Slide
- “We are a unique all-in-one solution that legal teams embrace” Competition Slide
- “We have a repeatable, in-driven GTM engine” – Customer Acquisition Segment
- “While the corrugation is strongly going downward” – Retention Slide
- “Our Community of Champions Doubles Growth” – Customer Segment
- “Help us grow ARR through ground movement/expansion” – Market Expansion/Go-to-Market segment
- “We have an experienced team on board and engaged” – Team Slide
- “With a proven track record of capital efficiency” – Highlight Financial and Investment Partners
- “And a broader goal to become the default way to agree terms” – Product Roadmap slide
- Slide close
Three things to love
There are many great things about the Juro deck. But the most notable thing is the clarity of its story.
Yes, it’s a problem.
Anyone who has ever had to deal with customized contracts or contracts that are flexible for every client has experienced this problem at some point. This is a problem for everyone involved in large corporate or corporate transactions. If you are negotiating with someone older than yours, the in-house team of legal professionals probably has a capital t ThoughtsYour contracts will be affected and you won’t have the ability to use your beloved model contracts in the way you wanted.
Startups need to be able to show signed copies of contracts to customers and suppliers. This can lead to a stressful nightmare if your contracts are stored in your email or in a shared folder (somewhere we hope).
The cool oddity here is that most venture capital deals fall into this category; Terms sheets are often pretty standard, but by the time the investment documents are complete, there are a host of custom languages that can creep into each contract, varying from deal to deal. This company could be a great sell for a lot of VCs. While Juro isn’t a dedicated startup or venture capital ecosystem company, it is solving a problem that has been faced by every VC at one point or another.
Venture capitalists will likely be aware of something your company does. This can be a great advantage. It accelerates the “this is why it is useful” narrative exponentially. This is a huge benefit!
There is just enough of the product for it to make sense.
Many startups find it tempting spend too much time talking about the products they offer. While the product is important, it’s not as important as its founders think. This is a B-group and Juro is telling the correct story. If you have a lot customers (and Juro does), you don’t need to spend much time on a product. Customers love it, give you money, stay. For Series B, we’re talking growth. You must have a product that isn’t actively frightening customers. However, if you can get them onboard and keep them on board, you are on the right track.
Juro provides enough detail on this slide to give investors a high-level overview about the product and its benefits. You did a great job and kept things high enough to make it easy to understand. I did well!
This slide can be a great reminder to startups not to get too caught up in the details. Keep it simple. Sometimes I challenge my clients in presentation training to tell the whole story and not mention the product once. It’s a little extreme, but it strengthens every other part of your story enough that once you add in the product, it takes just the right amount time and energy into the presentation.
Traction, traction and traction
If Juro has “Number of Contracts Signed” as its most important KPI, then this chart is exceptional.
Traction The most important slide you will have in your presentation. If you are eligible, apply as soon as you can. We’ve just managed the fifth slide in Juro’s presentation suite. We’ve also discussed the slides before it. This is the closest that the company can get at talking about how it’s doing. It’s amazing, it’s even more! This graph is exponential, as you would expect for any startup. Juro also considers “number of signed contracts” to be the most important KPI.
The sentence above will have the word “if” written in it. This chart is a great resource for investors. I like the fact that the company’s growth is rapid. There is however a strangeness to this: According to its pricing pageIt doesn’t make more money if it handles more contract work. The two would naturally be closely related, but I would like to see a stronger traction meter. ARR, maybe. The number of customers paying. Driving with a beautiful chart of a minor KPI can be a little risky. I let them slip because tranches 6 through 7 cover ARR Growth for the company. trulyVirtual capitals (VCs), which are based on metric numbers, will be of value.
The lesson? Be careful with what you drive. Some are more important for investors than others. While some of them may be important to certain aspects of the company (e.g., customer support ticket closing times and system uptime are crucial to technical operations and customer service teams), it is strange to see them on presentation stands.
We’ll also be looking at three things Juro could do better or differently.
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