Atrium, the legal software startup founded by Twitch co-founder Justin Kan, is shutting down, TechCrunch’s Josh Constine reported Tuesday.
The company that promised to “revolutionize legal services” fails to figure out how to deliver better efficiency than a traditional law firm.
“I’m really grateful to the customers and the team members who came along with me and our investors. It’s unfortunate that this wasn’t the outcome that we wanted but we’re thankful to everyone that came with us on the journey,” said Kan.
At the beginning of this year, Atrium announced that it would restructure its services to focus more on its software products and let go of most of its in-house lawyers.
The startup has already laid off all its 100 employees. It will also return some of its $75.5 million in funding to investors, including Series B lead Andreessen Horowitz.
Founded in 2017, the startup initially had a vision to improve on the traditional law firm model, by developing software to improve efficiency for both its attorneys and clients.
Atrium’s technology was supposed to allow companies to streamline common tasks, manage documents, collaborate with lawyers and track work.
And that vision helped the company raise $65 million in a round that included some of the biggest names in venture capital, with Andreessen Horowitz leading the round and General Catalyst, YC Continuity Fund, and Sound Ventures as co-investors.
