Total Attorneys declares sweet success for 2012′s first quarter with their most recent acquisition of $15 million worth of growth capital investment. This particular round of funding was led by Bain Capital Ventures, and was also participated in by BIA Digital Partners.
The company’s CEO, Paul Ford, shares more about this exciting news, and other information in this e-interview with Lead411:
Who are your competitors and how are you different from them?
Our web-based practice management software is $1 per user per month. Our competitors
appear to be charging approximately $50 per month for a similar product. With the launch of Total Apps, attorneys can add on additional applications such as legal leads or payment processing. It is these additional applications that are the revenue streams for our business and provide a one-stop-shop for small and solo firms to manage their practice.
What percentage of your marketing budget are spent on the following?
A. Advertising –
B. Social Media Marketing –
C. SEO –
D. PR –
E. Direct Marketing –
F. Other –
We do not break out the exact budget spend or the percentage on each of the categories,
but I can tell you that we are active across all these channels.
What marketing tactic has given you the highest ROI? What percentage ROI do you get back on this?
Our highest ROI channel is our SEO channel. We are a ten year old company that has some very old sites with deep, rich content to help consumers investigate their legal issues.
These sites rank well with search engines and are often found by consumers. Despite the
ongoing content updates and site optimization, these SEO efforts continue to provide us
with our best return and are very difficult for others to replicate.
What do you plan to spend your new funding on? Product development? Marketing?
The growth capital will be primarily used to continue development of our web-based
practice management and customer acquisition platform, as well as to market the platform more heavily. With a $1 per user per month base license cost, we are experiencing tremendous growth of firms. We like the fact that access is being improved for both consumers and lawyers to connect using these platform tools.
If this is your first round of financing and you’re the CEO, how many hours did you put into working on getting your financing? Was that taking up the most of your day?
Yes, the process of securing the funding was quite time consuming despite running a very streamlined process. We were able to identify some of the Class A growth equity firms early in the process, which helped. Despite the distraction from running the business, the process helped confirm that we have the right partner in Bain Capital Ventures both in terms of the people as well as the firm’s deep resources.
If you are the CEO, what are your biggest challenges?
As CEO, the greatest challenge at Total Attorneys is focus. The legal vertical is so large and our cloud based Practice Management System is being so well received, that we have to be very careful not to bite off more than we can chew. As another wonderful CEO once told me, “failure is self correcting; it is success that is dangerous.”
How many employees do you have?
We do not break out our exact employee counts, but I can tell you that we are adding
people this year in the areas of software development, customer service, user experience,
When were you founded?
Not many people know that Total Attorneys was actually founded in 2002. As an early
internet company, there is rich history and knowledge around web-based software and
online customer acquisition.
How much did you revenue increase(if any) this year over last year?
We do not break out our revenue numbers, but the company is growing nicely and we
expect this to continue with our recent growth equity infusion.
Want to learn more about their recent funding? You can view their press release here.