back to january, natasha cover Juro’s Series B funding round, That added $23 million to its coffers. Juro aims to put an end to frantic contract negotiations, moving the workflow from Microsoft Word and a few other sub-par tools to an all-in-one web-based platform for contract negotiation-to-signature workflows. This seems like a good idea.deck work; it helped Juro Raise a bunch of dollars. But is its deck good? Let’s take a closer look.
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slides in this platform
The company used 15 slides it shared with TechCrunch, with some light editing; all of them are there, but the company blurred out parts of its future roadmap and the actual numbers for its financials.
- cover slide
- “About 5 tools are needed to process a single contract” – Question slide
- “Starting a contract in an MS Word file adds to the pain” – Questions slide
- “We’re making contracts native to the browser” – Solution slide
- “Companies are moving to Juro’s browser-native format” – Traction Slides
- “ARR of $XXm+, Predictable and Sustainable Growth” – Financial Traction Slideshow
- “We are the only all-in-one system used by legal teams” – Contest Slides
- “We have a repeatable GTM engine, driven by inbound” – Customer Acquisition Slides
- “While churn is trending strongly downward” – Retention Slides
- “Our Champion Community Compounds Growth” – Client Slideshow
- “Helping Us Grow ARR with Land/Expansion Actions” – Go-to-Market/Market Expansion Slides
- “We have an experienced team involved” – Team Slideshow
- “Having a Record of Capital Efficiency” – Financial Highlights and Investment Partner Slides
- “The broader goal is to become the default way to agree to terms” – product roadmap slides
- close slideshow
three things to love
There are a lot of really good things about the Juro deck, but the clarity of its story is a particular highlight.
yes that’s a problem
Anyone who has had to deal with contracts, especially ones that are custom or at least flexible to each client, has run into this problem in some form. This is true for anyone working on large B2B or corporate deals; if you’re negotiating with someone bigger than you, chances are their in-house legal team has capital-T idea Regarding your contracts, you won’t be able to use your carefully crafted boilerplate contracts the way you want them to.
For startups, this sometimes comes up in due diligence; you all need to sign contracts with all customers and suppliers, and be able to find and display their signed versions (if prompted) during the due diligence process. This can turn into a stressful nightmare if your contracts are saved in your email or (possibly) in a shared folder (hopefully somewhere).
What’s particularly cool here is that most VC deals fall into this category; the term sheet is usually pretty standard, but when the investment docs are finalized, there’s a ton of custom language sneaking into each contract that varies from deal to deal. The upshot is that this company could be an easy sell to the many VCs that are eyeing the platform: while the company isn’t specifically targeting startups and the VC ecosystem, Juro at least partially solves a problem every VC goes through one time or another.
If your company does something that a VC is likely to be familiar with, you can use that to your advantage; it significantly speeds up the “this is why it works” narrative. What a perk!
just enough product to understand
Many startups are tempted to spend too much time talking about their products. Products matter, of course, but rarely as much as founders think they do. This is a Series B deck, and Juro tells the right story here: if you have a lot of customers (which, as you’ll note later, Juro does), you don’t have to spend a lot of time on your product. Customers love it, they give you money, and they stay. For the Series B, we’re talking about growth. Yes, the product has to be good enough not to actively scare off customers, but if you can get them to sign up and keep them, at least you’re on the right track.
In this slideshow, Juro shares enough detail that investors can have a high-level overview of what the product is and what benefits it has. Well done, it keeps things at a high enough level that it’s easy to follow. well done!
As a startup, what you can take away 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 mentioning the product once. Sure, it’s a bit extreme, but it helps reinforce the rest of the story enough that once you add the product back in, it spends the right amount of time and effort in the pitch.
traction, traction, traction
If Juro has “number of contracts signed” as its most important KPI, then this graph is special.
traction is One of the most important slides you will ever have in your presentation. If you have it, take the lead early. Well, we’ve put five slides on Juro’s podium, and we’ve talked about the previous slides. In fact, this is the earliest the company can talk about how it’s doing. Gosh, has it ever been this way – it’s an index graph like you’d see at any startup, and if Juro had “number of contracts signed” as its most important KPI, this graph would be Very special.
You’ll notice the “if” in the sentence above. As an investor, I love this graph. I like that the company is expanding rapidly. But here’s a quirk: According to its pricing page, the company does not directly make more money by processing more contracts. Of course, the two will be closely related, but I’d like to see more immediate indicators of attractiveness here. ARR, maybe. The number of paying customers. It always feels a little fishy to start with pretty graphs for secondary KPIs.I’m letting them get away with it here because slides 6 and 7 cover the company’s ARR growth, which is real Metrics-driven VCs care.
course? Be careful with the indicators you lead. Some are important internally, but not so much to investors. Some are valuable to certain aspects of the business (for example, customer support ticket close time and system uptime are critical to customer service and technical operations teams), but it seems odd to see them appear on a pitch deck.
In the rest of this teardown, we’ll take a look at three things the Juro could improve or do differently, along with its full pitch deck!