Juro’s $23 million game • TechCrunch

Juro's $23 million game • TechCrunch
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Back in January, Natasha covered Juro’s Series B round, which added $23 million to its coffers. Juro aims to end the contract negotiation craze, moving workflows from Microsoft Word and a handful of other substandard tools to an all-in-one, web-based workflow platform. from negotiation to signing contracts. It seems like a very good idea. The bridge worked; it helped Juro amass a nice stack of dollars. But is his deck any good? Let’s take a closer look.

We’re looking for more unique pitch decks to take down, so if you’d like to submit yours, here’s how you can do so.

Slides in this deck

The company used a 15-slide deck, which it shared with TechCrunch, with only light redactions; all the slides are there, but the company has muddled some of its future roadmap and actual financial numbers.

  1. cover slide
  2. “It takes ~5 tools to process a single contract” – issue slide
  3. “Initiating contracts in MS Word files makes the pain worse” – issue slide
  4. “We’re making contracts browser native” – ​​solution slide
  5. “Enterprises move to Juro’s native browser format” – pull slide
  6. “ARR is at $XX Million+, growing predictably and sustainably” – financial traction slide
  7. “We are the only all-in-one system adopted by legal teams” — competition slide
  8. “We have a repeatable, inbound-driven GTM engine” – customer acquisition slide
  9. “While churn has a strong downward trend” – retention slide
  10. “Our community of champions accelerates growth” – client slide
  11. “Help us grow ARR with a landing/expand move” – ​​go-to-market/market expand slide
  12. “We have an experienced and committed team on board” – team slide
  13. “With a capital efficiency track record” – financial highlight and investment partners slide
  14. “And a broader goal of becoming the default way to agree to terms” – product roadmap slide
  15. Zipper closure

three things to love

There are a lot of great things about the Juro game, but the clarity of its story is a particular highlight.

Yeah, that’s a problem okay

[Slide 2] Excellent description of the problem. image credit: Juro

Anyone who has had to deal with contracts, especially custom or at least flexible contracts for each customer, has encountered this problem in one form or another. This shows up for anyone doing large B2B or corporate transactions; if you’re negotiating with someone bigger than you, chances are their in-house legal team has T-capital thoughts on your contracts, and that you won’t be able to use your lovingly crafted boilerplate contracts as you had hoped.

For startups, this shows up from time to time in due diligence; you both need to have contracts with all of your customers and suppliers and be able to locate and post signed versions of these in the due diligence process if prompted. If your contracts reside in your email or (perhaps) in a shared folder (hopefully somewhere), this can turn into a stressful nightmare.

The extra-cool quirk here is that most VC deals fall into this category; term sheets are often pretty standard, but by the time investment documents are complete, there’s a whole lot of custom language that can sneak into every contract, varying from transaction to transaction. The upshot is that this company would probably have been a fairly easy sell to many VCs considering this game: while the company isn’t specifically aimed at the startup and VC ecosystem, Juro does, at least partially, solve a problem . every VC has lived once or another.

If your company does something VCs most likely know about, you can use it to your advantage. this greatly speeds up the “that’s why it’s useful” narrative. What a great advantage!

Just enough product to make sense

Juro's $23 Million Game • Techcrunch

[Slide 4] Yesss. This is how we make a product slide. image credit: Juro

Many startups succumb to the temptation to spend way too much time talking about their product. The product is important, of course, but rarely as important as the founders think. This is a B-game, and Juro tells the right story here: if you have a lot of customers (and, as we’ll notice in a moment, Juro does), you don’t have to spend a lot time on your product. Customers love it, they give you money and they stay. For Series B, we are talking about growth. Yes, the product has to be good enough not to actively scare away customers, but if you can sign them up and keep them, you’re at least on the right track.

In this slide, Juro shares just enough detail for investors to get a high-level overview of what the product is and its benefits. Very well done, and it keeps things high enough that everything is pretty easy to understand. Well done!

As a startup, what you can learn from this slide is to not get bogged down in the details. Keep it as simple as possible. With my pitch coaching clients, I sometimes challenge them to tell the whole story without even mentioning the product once. A bit extreme, sure, but it helps reinforce all the other parts of the story enough that once you add product, it takes the proper time and energy in a pitch.

Pull, pull, pull

Juro's $23 Million Game • Techcrunch

[Side 5] If you could use a single slide to raise capital, it would look like this. image credit: Juro

If Juro has “number of contracts signed” as its most important KPI, this graph is exceptional.

The pull is the most important slide you will have in your pitch deck. If you have him, lead with him as soon as you can. Well, we’ve reached slide five of Juro’s pitch deck and we’ve already talked about the slides that preceded it. Realistically, this is the first time the company could talk about its performance. And my goodness, is it ever – it’s as exponential a chart as you’ll see for any startup, and if Juro has “number of contracts signed” as its most important KPI, this chart is outstanding.

You will have noticed the “if” in the sentence above. As an investor, I like this chart. I like that the company is growing fast. But there’s a quirk here: According to its pricing page, the company doesn’t directly make more money if it processes more contracts. Of course, the two will be strongly linked, but I would have liked to see a more direct pull metric here. ARR, maybe. Number of paying customers. Leading with a nice chart for a secondary KPI always comes across as a bit suspect. I’m letting them off the hook here because slides 6 and 7 cover the growth of the company’s ARR, which is the real VCs focused on metric numbers will care.

Lesson? Pay attention to the metrics you lead with. Some are important internally but less important to investors. Some will be valuable for certain aspects of the business (time to close customer support tickets and system uptime, for example, are crucial for customer service and technical operations teams), but it seems curious to see them appear in pitch decks.

In the rest of this teardown, we’ll look at three things Juro could have done better or done differently, as well as his full pitch deck!


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