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How Lawmatics Reached $12M ARR on About $30M Raised and 20% Founder Ownership

Matt Spiegel explains how Lawmatics won its first customers with paid ads and legal conferences, how he handled the seed round, Series A and a cofounder exit, and what he would need to sell.

Matt Spiegel · Lawmatics

Published February 4, 2026
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What you’ll learn

Matt Spiegel, founder and CEO of Lawmatics, a CRM and marketing automation platform for law firms, explains how he built it after selling MyCase. He covers its first customers, roughly $30M raised while keeping about 20% ownership, a cofounder's exit and his view on debt and a future sale. Lawmatics serves about 2,000 law firms at around $12M of revenue.

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What got the first customers

“I would just say it was it was paid search and paid social. I think those were those were the things that really got us going.”
Watch at 07:02

Series A timing in 2021

“It was December 2021, so it was literally right as we were falling off the cliff, right before we fell off the cliff.”
Watch at 10:27

Founder stake at Series B

“Having the founding team be in that 20 to 25% range or thereabouts at a B is like a really strong position.”
Watch at 16:46

Why he declined unused debt

“I don't want to just add a cost under the balance sheet for debt that I'm not going to access.”
Watch at 21:57

Terms for a 20x exit

“20x, I'm doing it, but it's got to be at least 40% roll.”
Watch at 26:59

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About the speaker

Matt Spiegel

Founder & CEO · Lawmatics

Company revenue
$12M

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