Come back in January, Natasha mention Juro’s Series B Round, added $23 million to its coffers. Juro aims to end the frenzy of contract negotiations, moving workflows out of Microsoft Word and several other side tools to an all-in-one, web-based platform for the incoming contract negotiation process. signature. It seems like a very good idea. The deck worked; It helped Juro raise a good stack of dollars. But is its deck any good? Let’s take a closer look.
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Slides in this deck
The company used a 15-slide deck it shared with TechCrunch, making only a few light trades; All the slides are there, but the company has partially obscured its future roadmap and financials.
- “It takes ~5 tools to process just one contract” — issue slide
- “Initiating contracts in MS Word files adds to the pain” — problem slide
- “We are creating a browser-based contract” — solution slide
- “Companies are moving to the native format of the Juro browser” — drag slide
- “ARR at $XX million or more, predictable and sustainable growth” — financial traction slip
- “We are the only all-in-one system adopted by legal teams” — contest slide
- “We have a repeatable, driven GTM engine” — customer engagement slide
- “While churn is on a downward trend” — retention slippage
- “Our community of champions grows compounded” — client slide
- “Help us develop ARR by land expansion/expansion” — go-to-market/market-expansion slide
- “We have an experienced team on board and on board” — group slide
- “With a long track record in capital efficiency” — financial and investment partner highlights
- “And a broader goal is to be the default way to agree to terms” — product roadmap slide
- Close slide
Three things to love
There’s a lot that’s really good about the Juro deck, but the clarity of its story is a particular standout.
Yup, that’s a problem okay
Anyone who has had to deal with contracts, especially those that are custom or at least flexible for every client, has experienced this problem in one form or another. This is visible to everyone who conducts large corporate or B2B transactions; if you are negotiating with someone bigger than you, it is likely that their internal legal team has billions of capital think about your contracts and that you won’t be able to use your lovingly crafted boilerplate contracts in the way you had hoped.
For startups, this sometimes comes up during due diligence; both of you should have contracts with all of your customers and suppliers and be able to locate and display their signed versions in due diligence if prompted. If your contract is in your email or (probably) in a shared folder (hopefully somewhere), this can become a stressful nightmare.
What’s interesting here is that most VC deals fall into this category; Terms sheets are usually pretty standard, but by the time investment documents are complete, there’s a range of custom languages that can sneak into each contract, varying from transaction to transaction. The upshot is that this company could have been sold fairly easily to many of the VCs considering this deck: While the company isn’t specifically dedicated to the startup and VC ecosystem, at least Juro is addressing a Every VC problem part goes through it at one time or another.
If your company does something that venture capitalists are most likely familiar with, you can use that to your advantage; it dramatically speeds up the “here’s why this is helpful” story. What a great privilege!
Juuust enough products to make sense
A lot of startups fall into the temptation of spending too much time talking about their products. Of course, the product is important, but it’s rarely as important as the founders think. This is a Series B deck, and Juro tells the right story here: If you have a lot of clients (and, as will soon be noted, Juro too), you don’t have to spend a lot of time on yourself. product. Customers love it, they give you money and they stay. For Series B, we’re talking growth. Yes, the product has to be good enough not to scare customers away, but if you can sign up and keep them, at least you’re on the right track.
In this slide, Juro shares just enough detail so that investors can get a high-level overview of what the product is and what the benefits are. Very well done and it keeps things high enough to make things pretty easy to understand. Well done!
As a startup, what you can learn from this slide is not to get bogged down in the details. Keep it as simple as you can. With my pitch-training clients, I sometimes challenge them to tell the whole story without mentioning the product once. It’s a bit extreme of course, but it strengthens every other part of the story enough that once you add the product back in, you’ll need the right amount of time and energy for a single post. present.
Traction, traction, traction
If Juro has “number of contracts signed” as its most important KPI, this chart is the exception.
traction is the most important slide you will have in your presentation. If you have it, lead it as soon as possible. Well, we’ve completed slide five of Juro’s offering and we’ve talked about the slides before it. In fact, this is the first time the company has been able to talk about how well it is doing. And oh my god, never – that’s an exponential graph you’ll see for any startup, and if Juro has “number of signed contracts” as his most important KPI, then this chart is special.
You will notice the word “if” in the sentence above. As an investor, I love this chart. I like that the company is expanding rapidly. But there’s something confusing here: According to its price page, the company does not directly earn more if it settles more contracts. Of course, the two will be closely related, but I’d love to see some more direct traction metrics here. ARR, perhaps. Number of paying customers. Leading up with a nice graph for a secondary KPI always causes a bit of doubt. I leave it to them here because slides 6 and 7 refer to the company’s ARR growth, which is real Data-driven venture capitalists will be interested.
Lesson? Be careful with which metrics you lead. Some are important internally but less important to investors. Some will be valuable to certain aspects of the business (e.g. customer support ticket closing times and system uptime, which are important for technical operations and service teams). customer service), but seems curious to see them appear in the offers.
In the rest of this detailed analysis, we’ll look at three things Juro could have improved on or done differently, along with its full deck of offering!