Pitch Deck Teardown: Juro’s $23M Series B deck

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Back in January, Natasha lined Juro’s Series B round, which added $23 million to its coffers. Juro goals to place an finish to contract negotiation insanity, transferring the workflows out of Microsoft Word and a handful of different sub-par instruments to an all-in-one, web-based platform for contract negotiation-to-signature workflow. It looks like an excellent thought. The deck labored; it helped Juro increase a positive stack of {dollars}. But is its deck any good? Let’s take a more in-depth look.

We’re searching for extra distinctive pitch decks to tear down, so if you wish to submit your personal, here’s how you can do that

Slides on this deck

The firm used a 15-slide deck, which it shared with TechCrunch, making just some gentle redactions; all of the slides are there, however the firm blurred out a part of its future highway map and the precise numbers for the financials.

  1. Cover slide
  2. “It takes ~5 tools to process just one contract” — drawback slide
  3. “Initiating contracts in MS Word files compounds the pain” — drawback slide
  4. “We’re making contracts browser-native” — resolution slide
  5. “Companies are switching to Juro’s browser-native format” — traction slide
  6. “ARR is at $XXm+, growing predictably and sustainably” — monetary traction slide
  7. “We‘re the only all-in-one system adopted by legal teams” — competitors slide
  8. “We have a repeatable GTM engine, driven by inbound” — buyer acquisition slide
  9. “While churn is trending strongly downwards” — retention slide
  10.  “Our community of champions compounds growth” — buyer slide
  11.  “Helping us grow ARR with a land/expand motion” — go-to-market/market growth slide
  12.  “We have an experienced team on board and engaged” — workforce slide
  13.  “With a track record of capital efficiency” — monetary spotlight and funding companions slide
  14.  “And a wider aim to become the default way to agree terms” — product highway map slide
  15.  Closing slide

Three issues to like

There are quite a lot of actually good issues concerning the Juro deck, however the readability of its story is a specific spotlight.

Yup, that’s an issue all proper

[Slide 2] Excellent drawback description. Image credit score: Juro

Anyone who’s needed to take care of contracts, particularly contracts which might be customized or a minimum of versatile to each buyer, has skilled this drawback in a single kind or one other. This reveals up for everybody who does giant B2B or company offers; if you happen to’re negotiating with somebody greater than you, it’s probably that their in-house authorized workforce has capital-T ideas about your contracts, and that you simply received’t have the ability to use your lovingly crafted boilerplate contracts the best way you had hoped.

For startups, this reveals up in due diligence sometimes; you each must have contracts with all of your clients and suppliers and have the ability to find and present the signed variations of them within the due diligence course of if prompted. If your contracts reside in your e-mail or (perhaps) in a shared folder (someplace, hopefully), this may flip right into a disturbing nightmare.

The extra-cool quirk right here is that the majority VC offers fall into this class; the time period sheets are sometimes fairly customary, however by the point the funding paperwork are full, there’s a bunch of customized language that may sneak into every contract, various from deal to deal. The upshot is that this firm would in all probability have been a fairly straightforward promote to quite a lot of VCs which might be this deck: While the corporate isn’t particularly for the startup and VC ecosystem, Juro is, a minimum of partially, fixing an issue each VC has skilled one time or one other.

If your organization does one thing that VCs are very more likely to be acquainted with, you should utilize that to your benefit; it accelerates the “this is why this is useful” narrative considerably. What an ideal perk!

Juuust sufficient product to make sense

[Slide 4] Yessss. This is how we do a product slide. Image credit score: Juro

Plenty of startups fall for the temptation to spend method an excessive amount of time speaking about their product. The product is essential, in fact, however not often as essential as founders suppose it’s. This is a Series B deck, and Juro tells the proper story right here: If you’ve gotten quite a lot of clients (and, as will word in only a second, Juro does), you don’t have to spend so much of time in your product. The clients like it, they’re providing you with cash, and they’re staying. For Series B, we’re speaking about progress. Yes, the product needs to be ok to not actively scare clients away, however if you happen to can signal them up and maintain them round, you’re on the proper path, a minimum of.

In this slide, Juro shares simply sufficient element so traders can get a high-level overview of what the product is and what the advantages are. Very effectively achieved, and it retains issues excessive sufficient degree to make all of it fairly straightforward to grasp. Well achieved!

As a startup, what you may study from this slide is to not get slowed down within the particulars. Keep it so simple as you may. With my pitch teaching purchasers, I typically problem them to inform your complete story with out mentioning the product as soon as. Just a little excessive, in fact, however it helps strengthen each different a part of the story sufficiently to the purpose that after you add product again in, it takes on the suitable period of time and vitality in a pitch.

Traction, traction, traction

[Side 5] If you might use a single slide to boost capital, it might appear like this. Image credit score: Juro

If Juro has ‘number of contracts signed’ as its most essential KPI, this graph is outstanding.

Traction is the single most important slide you will have in your pitch deck. If you’ve gotten it, lead with it as early as you may. Well, we’ve made it to slip 5 in Juro’s pitch deck and we’ve already talked concerning the slides that preceded it. Realistically, that is the earliest the corporate might discuss how effectively it’s doing. And goodness, is it ever — that’s as exponential a graph as you will notice for any startup, and if Juro has “number of contracts signed” as its most essential KPI, this graph is outstanding.

You’ll have seen the “if” within the above sentence. As an investor, I like this graph. I like that the corporate is increasing quickly. But there’s a quirk right here: According to its pricing page, the corporate doesn’t instantly make more cash if it offers with extra contracts. Of course, the 2 might be strongly associated, however I’d have liked to see a extra direct traction metric right here. ARR, maybe. Number of paying clients. Leading with a wonderful graph for a secondary KPI all the time comes throughout as just a little suspect. I’m letting them get away with it right here as a result of slides 6 and seven cowl the corporate’s ARR progress, which is the actual metric numbers-driven VCs will care about.

The lesson? Be cautious which metrics you lead with. Some are essential internally however much less essential to traders. Some might be precious to sure features of the enterprise (time to buyer assist ticket closure and system uptime, for instance, are essential to customer support and technical operations groups), however it appears curious to see them present up in pitch decks.

In the remainder of this teardown, we’ll check out three issues Juro might have improved or achieved in a different way, together with its full pitch deck!

Pitch Deck Teardown: Juro’s $23M Series B deck by Haje Jan Kamps initially printed on TechCrunch

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