
Justice Bid
Provides SaaS products for legal departments.
USD | 2021 | 2022 |
---|---|---|
Revenues | 0000 | 0000 |
% growth | - | 125 % |
EBITDA | 0000 | 0000 |
Profit | 0000 | 0000 |
EV | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x |
R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Justice Bid operates a legal technology platform that transforms how corporate law departments manage the procurement of legal services. The company was founded by Omar Sweiss, who currently serves as CEO. Sweiss, an attorney with a background in business and real estate development, was motivated by his experiences during the 2009 recession to create a sourcing technology for legal departments. His passion for inclusivity, stemming from his background as an immigrant, later led him to incorporate robust diversity and inclusion analytics into the platform.
The Chicago-headquartered company provides a minority-owned platform that serves corporate legal departments, including many Fortune 1000 enterprises. The business model centers on a Software-as-a-Service (SaaS) platform that automates and streamlines the outside counsel selection process. It helps legal teams manage requests for proposals (RFPs), e-auctions, and rate reviews, which can generate significant cost savings for clients. Revenue is generated through this platform, which enhances transparency and efficiency in legal spending.
The platform's core functionalities include tools for panel management, data-driven RFPs, and real-time competitive bidding auctions. A key differentiator is its comprehensive diversity analytics module, which allows legal departments to track and evaluate the diversity, equity, and inclusion (DEI) metrics of law firms. This feature provides detailed, intersectional data on firmwide diversity and matter-specific staffing without cumbersome manual surveys. The platform also offers staffing analytics to ensure alignment with corporate inclusion policies and ESG (Environmental, Social, and Governance) metrics through a partnership with impactvise. Strategic alliances, such as one with Epiq, have expanded its reach, making its tools available through the Epiq Service Cloud to provide a more holistic legal service management solution.
Keywords: legal procurement, outside counsel selection, legal technology, RFP management, legal spend management, diversity and inclusion analytics, legal e-sourcing, corporate legal operations, law firm selection, legal data analytics, legal e-auctions, vendor management, DEI in law, legal cost control, ESG metrics for law firms, legal operations software, law firm benchmarking, attorney sourcing, legal panel management, legal RFP automation
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Investments by Justice Bid
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