Bodhala Enters Q4 With Record Revenues, 3x Headcount Growth
Citing shift surrounding changing Big Law culture, legal data leader celebrates milestone
Bodhala, the leading tech platform enabling corporate legal teams to analyze and optimize their spend, projects their revenues to be at an all-time high and employee headcount to double by year-end 2019.
Founded in 2013, the Manhattan-based legal data science company recently invested in their client success and sales operations, acquiring talent with experience leading data and marketing organizations. This represents a tripling of the headcount year over year.
“We’ve been signaling a shift in the market for a few years, and with the multiple moving pieces and success metrics we’re seeing, our predictions are coming true,” said Raj Goyle, co-founder, and co-CEO of Bodhala. “We’re approaching an inflection point with Big Law as it intersects with big data technologies, and our continued success as a company is reflective of that.”
Goyle pointed to a recent Wall Street Journal analysis that leaned heavily on Bodhala internal data. The central thesis? Going away are the days of relationship-based firm/corporate interactions. Big Law is changing, and in this “new normal,” data and money rule.
“A lot of our work is educational,” Goyle said. “We view it as our responsibility to not only guide our customers through the market with data-backed intelligence but help them understand the how and why in their legal billing. We made these hiring investments because it’s our job to give our corporate legal department customers great service. And because we’re armed with the leading-edge legal data, we can do great work in less time than ever thought possible. This means our clients can focus on doing what they do best.”
Goyle said he expects to hire 12 more people to support Bodhala’s marketing, operations, product, and sales teams by year’s end. He went on to say he forecasts Q4 revenues to likewise track 3x over 2018.
Bodhala leads the industry in optimizing enterprise legal spend on outside counsel through a proprietary AI-backed platform. Bodhala’s mission is to empower the legal industry with the tools necessary to take the ambiguity out of spend decisions. Created by lawyers, for lawyers, with advanced data science expertise, Bodhala is customizable, informative and intuitive, providing actionable insights in a timely manner. For more information visit https://www.bodhala.com