About us

Thrive is set up by Funding London, a venture capital company bridging the finance gap for early stage businesses based in London. With over a decade’s experience in supporting the startups of London through a variety of funding vehicles, Funding London sensed a need to illuminate the ever-evolving scenario of London’s early stage businesses.

Thrive features interviews with and opinion from budding entrepreneurs, investors and industry experts. A mix of contributors from all areas of the industry is desired in order to spark genuine discussion about ongoing critical issues. While it showcases the effectiveness of successful ventures, it also encourages sharing lessons learned from missteps and unsuccessful projects.

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Content
Funding London
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dtc

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info@thrive.london
020 7043 0739

First Floor, Aldwych House,
71-91 Aldwych House
London, WC2B 4HN

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Growth · 5 October '18

Why lawyers can be disruptors too

Our story is typical of entrepreneurial businesses; experienced founders, a huge potential market and a disruptive idea to solve a problem.

The problem: a lack of affordable and practical legal support for growth businesses.

The options:

  • Expensive, law firms whose way of providing advice does not work for fast-growing companies with constrained budgets.
  • Buying templates, filling in the blanks and hoping it will do. Busy COOs or CFOs juggle legal with their day job and hope it won’t go wrong.

Many companies still perceive legal as a luxury they will forgo for all but the highest value deals.  Sound familiar?

We thought why should legal products and services be different to others that you buy? Why can’t lawyers be cost effective and provide ROI like other service providers?

To solve this, we got together a team of people who really know how to manage and prioritise revenue generating work, whilst protecting assets and managing risk, as well as managing the associated and usually small budget.  At the same time, we innovated and re-engineered the way lawyers work, both together and with companies.

So, how are we different?

We understand how important it is to be part of your team. We’re your in-house legal function – flexible GCs as a service.  We’ve all worked in similar companies, so understand, first hand, the demands of working in a busy, growing business with a limited budget. In fact, many of us have run our own businesses.

As a fast-growing SME, you need your legal team to help figure out what you need to focus on, and, vitally, what not, alongside managing the work and budget.  We’ll focus on revenue critical projects such as improving the sales contracting process to speed up deal closure.  We’ll drive efficiencies by introducing processes, or software to make contracting, for example, more efficient. We also understand it’s about managing risk, not trying to de-risk deals entirely, which just isn’t practical. And we aren’t incentivised to prolong the contracting process.

Our customers are growing tech and media businesses who don’t need or want legal headcount but recognise the risks of doing business in a complex world.  Some have seen first-hand how a poor legal and compliance story can impact a fund-raising or exit.

Disruption is about how you work and we’re proud of the model we’ve created.  It supports ambitious lawyers who recognise a legal career is more than working at a law firm. Our lawyers work flexibly and at a high level, without compromising on other pursuits, whether it’s family, travel or study.  It allows us to compete with bigger players for the best talent available.  And the number of CVs we receive each month shows people are attracted to organisations that are happy to show creativity around the way they work, whilst helping build their careers.

We can’t claim to be the only disruptors in the legal market, but we can claim to have been right at the forefront of it for almost 10 years.  We continue to be excited by fixing the problem.

In short, we provide your team with your own, cost effective, flexible GC as a service – what’s not to like?