Bodhala

Bodhala operates as a legal technology company providing a data intelligence platform designed to manage and optimize outside counsel spending for corporate legal departments. The firm was established to address the lack of transparency and market-driven pricing within the nearly half-a-trillion-dollar global legal industry.

The company was founded in 2014 by Raj Goyle and Ketan Jhaveri, who met at Harvard Law School. Goyle's background includes serving as a member of the Kansas House of Representatives and running for U.S. Congress, while Jhaveri practiced antitrust law for a decade after working for the U.S. Department of Justice. Their combined experience in politics and law informed their mission to create a more functional, competitive market for legal services. The company went to market with its solution in 2017 and experienced significant growth, leading to a $10 million growth equity investment led by Edison Partners in April 2020. In September 2021, Bodhala was acquired by Onit, Inc., a provider of enterprise workflow and AI solutions, and now operates as an independent subsidiary.

Bodhala's business centers on a software-as-a-service (SaaS) platform that utilizes data science, machine learning, and AI to analyze legal spending. The platform ingests and cleans messy billing data, transforming it into actionable insights that empower clients to benchmark, analyze, and optimize their legal spend. This enables corporate legal departments, including those in Fortune 500 companies and across sectors like private equity, insurance, and healthcare, to make informed, data-driven decisions when procuring legal services. The core value proposition is the ability to select the right law firm at a market-driven price, with clients reportedly saving up to 20% on outside counsel costs. By providing proprietary benchmarking and rate review algorithms, Bodhala gives general counsel and procurement leaders transparency into costs and performance, shifting the pricing power that has historically favored law firms.

Keywords: legal spend management, legal tech, data intelligence, outside counsel spend, spend optimization, legal analytics, legal market intelligence, legal procurement, enterprise legal management, AI in law, legal operations, law firm benchmarking, corporate legal departments, legal billing analytics, legal cost control, legal data science, attorney rate analysis, legal spend analytics, legal services procurement, legal market transparency