Mehta will bring strategic direction to executing Bodhala’s vision for a transparent legal marketplace and expanding the companies reach among Fortune 500 businesses. The move comes at a critical time for Bodhala’s growth having been named the Hottest Legal Trend for 2018 by ALM.
He will build upon Bodhala’s success in saving corporate legal teams billions of dollars over the last 3 years using big data to analyze cost and capabilities when selecting outside representation.
Bodhala, a groundbreaking legal technology platform created by lawyers to transform the half-a-trillion dollar global legal industry, officially announced the appointment of Varun Mehta to the company’s Advisory Board. Mehta will advise the company on scaling the organization, executing against Bodhala’s vision of reimagining the legal services market place, and growing its multinational client base supporting legal and finance departments. The Bodhala platform currently analyzes over $12 billion in invoices from over 30 million billed line items across 5000 law firms to help clients attain a comprehensive understanding of market rates for matter costs.
“We’re extremely excited to leverage Varun’s knowledge and experience to continue to drive our growth and expansion across Fortune 500 companies and beyond. For far too long, leading multinational companies have defaulted to a reliance on relationship-based agreements to service their legal counsel needs, retaining services that are far too expensive and entirely inefficient,” said Raj Goyle, Bodhala co-founder, and CEO. “With legal departments being asked to do more with less, Bodhala’s analytics technology takes the ambiguity out of legal spend and empowers business leaders to make and justify their decisions with confidence.”
Before Bodhala, Mehta was a founding member of Clutch Group, a managed service firm specializing in legal, risk and compliance analytics. The firm later merged with Morae Legal to form Morae Global, an end-to-end legal and compliance solutions provider for corporate general counsel and compliance officers. At Morae Global, Mehta served as the President, Market Growth and Strategy, overseeing client relations, commercial strategy, regulatory engagement, marketing, communications, new product development, and market expansion efforts worldwide.
Over the past decade, Mehta has helped the largest Fortune 500 companies drive business value in legal, risk and compliance functions through operational transformation, analytics-driven service delivery and managing large-scale litigation, regulatory investigation and M&A driven events. These efforts have saved legal departments cumulatively over $250 Million.
“Bodhala takes the bias out of in-house legal decisions and enables law firms to compete for business upon the merits of their results rather than just the reputation of their rankings,” stated Mehta. “Legal services and the spend associated with them, is one of the last black boxes for large companies where it’s tough to focus on value versus the hourly rate, Bodhala is the only firm focused on creating a truly transparent legal marketplace that could revolutionize the industry and I’m thrilled to help promote client expansion and continue showcasing how their powerful analytics can help corporate clients and legal counsel.”
Mehta’s appointment comes on the heels of Bodhala’s recent rapid growth and successful company performance. After a seed round drawn from alumni of Microsoft, Facebook, Google, and Amazon, the company is on track to grow over 3X this year and again next year.
Working with industry-leading companies across the insurance, financial and retail spaces, the platform has saved clients billions of dollars in 3 short years. In addition to Mehta’s appointment, Bodhala plans to expand its internal sales division to service the growing demand from corporate legal and finance departments to rein in the rampant rise of legal fees from outside counsel.