Flo Recruit: A Winning Case for Legal Talent
A SaaS solution helping streamline the recruitment process for legal professionals
Despite the 1.3 million active lawyers in the U.S., recruiting in the legal profession remains expensive and fiercely competitive. Attracting and retaining talent is critical to a firm’s success. Yet, law firms are underserved by inefficient and burdensome applicant tracking systems that are outdated and largely manual, making it difficult to seamlessly integrate with law school resume databases and career services.
“Recruiting and retaining both legal and other professional staff may prove to be among the biggest post-pandemic challenges confronting law firms.” — Thomson Reuters, 2022 Report on the State of the Legal Market
Alumni Ventures portfolio company Flo Recruit is addressing the need for better recruiting software within the law sector. The company’s vertical SaaS software solution for recruiting and hiring lawyers provides end-to-end solutions for law firms — including sourcing, scheduling, interviewing, and applicant tracking — all in one easy-to-use platform.
The Verdict? Vertical SaaS
Flo Recruit’s modern recruiting solution is designed to replace the current time-consuming and inefficient manual processes most firms use. The company offers features such as resume parsing, automated scheduling, candidate tracking, in-person and digital job fairs, and data collection, allowing firms to focus on the most qualified candidates.
Flo Recruit also provides a law-firm-to-law-school data sync that automatically sources candidate information and materials — saving law firms hours of manual input. Additionally, the company benefits individual candidates by allowing them to track their recruiting process with firms in a single dashboard showing events, applications, interviews, feedback, and recruitment stages.
What We Liked About Flo Recruit
Land and Expand Opportunity
As more law firms, law schools, and lawyers join Flo Recruits’ network, the platform increases its value for new and existing customers. Additionally, bundling services moves the company upstream to higher contract values and more sticky customers, since law firms will use their streamlined product across the entire recruiting lifecycle.
Name Brand Customers
Flo Recruit has established a robust network of more than 80 law firms. These include Skadden, Ropes & Gray, and Simpson Thatcher, as well as more than 100 law schools, such as Harvard Law, Yale Law, Stanford Law, and more.
Flo Recruit’s Co-Founder and CEO Katherine Allen has a deep understanding of and experience in the legal recruiting industry. She has secured investment from established venture capital firms and business leaders in Austin and hired and retained a talented team. She was also accepted into Y Combinator’s Summer 2019 Cohort (1.8% acceptance rate).
How We Are Involved
Congress Avenue Ventures (for the University of Texas community) sponsored our investment in Flo Recruits’ $4.2 million seed round led by LiveOak Venture Partners and Moneta Ventures. AV’s Total Access Fund also participated in the round.
Alumni Ventures offers accredited individuals access to professional-grade venture capital, a key asset class missing from the portfolios of many sophisticated investors. Since 2014, AV has raised more than $1.2 billion across 40+ Alumni and Focused Funds, serving a growing network of 9,500+ investors and 600,000+ community members. AV evaluates hundreds of investment opportunities every year and has backed 1,200+ unique portfolio companies. Alumni Ventures is the #1 most active venture firm in the U.S., and #3 most active in the world, according to PitchBook’s 2022 rankings. AV funds are private, for-profit, and not affiliated with or sanctioned by any school. For more information, visit av.vc.