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🦄 Unicorner Startup of the Week: Justpoint
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✍️ Notes From The Editors
Throughout the two years of Unicorner’s existence, our coverage of legal tech has been sparse. Justpoint’s story—and model—proved to be interesting during our research, and we wanted to share it with you today. Reply letting us know what you think!
In other news, congratulations to the Magna team on their $15 million seed round! We’re excited to see its role in the future of token management in Web3 companies.
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Promoted
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AI-powered attorney-client matching service
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Justpoint is a platform that uses artificial intelligence to match legal cases with lawyers and law firms that are best suited to handle those cases. It specializes in personal injury cases and evaluates all claims it receives with a team of doctors and lawyers for accuracy. Afterward, the cases are compared to Justpoint’s internal database of over 300,000 historical claims to match each client with an attorney best suited to their case.
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💰 Business Model
When a settlement is reached, Justpoint gets paid a percentage of the amount taken by the law firm it referred. If the case does not succeed in court, Justpoint doesn’t get paid.
📈 Traction and Fundraising
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Raised $6.9 million seed extension funding ($7.9 million total) from investors like Divergent Capital, Charge Ventures, Crossbeam Venture Partners, Honeystone Ventures, Interplay VC, Weekend Fund, Vijay Krishnan (Co-Founder of Turing), Jackson Moses (Co-Founder of Mainstreet), and Ali Moiz (Founder of Stonks)
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Platform used by over 1000 law firms, with over 100 cases received a day; active operations in 33 states
👫 Founders
- Victor Bornstein, CEO: Previously Assistant Professor @ Icahn School of Medicine, Co-Founder @ Lazulio, Biomedical Sciences PhD @ Icahn School of Medicine, Cell and Molecular Science MS @ FIOCRUZ, Biological Sciences BS @ Universidade Federal Fluminense
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🔮 Our Analysis
The legal world is one ripe with opportunities for innovation. Justpoint has identified a prevalent problem when it comes to clients choosing lawyers; in the company’s words, lawyers and firms should be selected based on area expertise and case records, not because of the number of billboards they advertise on. While advertised as an AI-powered solution matching lawyers and clients, Justpoint can be accurately described as a combination of lawyers and other domain experts analyzing cases with algorithms searching the company’s database of claims to find cases with similar details. Justpoint’s underlying technology also helps law firms, both with case discovery and referrals as well as general case organization—the platform provides firms with clear case details and expert opinions to save time for lawyers. The results seem promising—according to Justpoint’s website, its predictive analytics have helped clients get payouts that were 3.2x higher than anticipated. The biggest question in our minds would be related to any potential competition: what would it take for another company to replicate its model? Yet in its current position in the industry, and with its funding and expert team, we’re optimistic about Justpoint’s ability to continue to improve the way most people find lawyers to represent them.
📚 Further Reading
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Made with 💜 by the Unicorner Team 🦄
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🎁 Bonus Content!
As many of may have heard, earlier this week Adobe announced its intention to purchase Figma in a $20 billion deal. While many have shared their thoughts on the acquisition as a whole, we wanted to take a moment to shine a light on 30-year-old Dylan Field, co-founder and CEO at Figma, who we had the privilege of virtually speaking with over a year ago at a job fair. Learn more about Dylan and his thoughts on the acquisition. |
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