Photo - ALMA
60886

ALMA

USA, California
Market: Other, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 17.10.2023
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Idea

ALMA helps attorneys draft high-quality legal documents in minutes vs. hours before, liberating valuable time for flat-fee law firms to focus on bizdev and client relationships

Current Status

We have completed 20+ customer discovery calls, built a prototype, got 2 design partners, sized our TAM, did financial projections until 2025, outlined product roadmap, planned our key hires, and started conversations with investors.

Problem or Opportunity

Immigration lawyers spend ~60% of their time on drafting repetitive client documents, limiting productivity and revenue (validated by 20+ customer discovery calls). Similar problems are faced by all law firms with flat-fee and volume driven business

Solution (product or service)

Spend less time drafting documents, and do more to grow your business with our AI tool:
1. Generate legal documents in minutes vs. hours before without compromising attorney client privilege
2. Grow your clientele by improving service delivery (e.g., reduce errors and generate high quality documents)
3. Become more productive and focus on higher-value tasks, which require human involvement and interaction

Business model

We plan to charge per license $450-500 depending on the size of the law firm, annually reaching ~$5000 ACV per seat. We need to capture 4-4.5% of the market in Immigration and Family law to get to $100m in gross profit.
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