Company
Coder provides open-source tools and an enterprise platform that makes it easier to configure, secure, and scale development environments. Coder’s clients include government institutions, Fortune 50 companies and some of the biggest financial institutions in the world. They are a Series B company that has raised $47 million from top tier venture capital firms.
Challenge
When we met Coder, they were frustrated with their current law firm. The legal review process slow, typically 4-6 weeks, and the fees were high, about $250,000/year for very basic contract review. They understood that as they grew the fees would only increase. They wanted to find a way to reduce both sales cycle time and operational spend. Even minor reductions of these metrics would greatly impact their burn rate and ARR/revenue recognition.
Solution
The company recognized the need for a more efficient approach. They partnered with us on General Counsel – Grow for a flat monthly fee. Immediately we collaborated with their team to identify the most critical terms in their contracts. We streamlined the contract review process, which enabled them to close deals quickly.
Impact
In the first year alone, we saved Coder about $200,000 in legal fees and shortened their sales cycle by about 4 weeks. Thanks to our focus on efficiency, the Coder Ops team saved about 8-10 hours each month previously spent on legal management. By switching to a Westaway, they were able to close deals much faster, save hundreds of thousands of dollars on legal bills, and get back a day every month.
