We're thrilled to announce our investment in Oddr, a company helping law firms bill and collect revenue faster and better.
In an era of digitalization and AI, law firms continue to grapple with archaic and opaque billing practices where processes from invoice creation to delivery to reconciliation are often still executed manually. Furthermore, once an invoice is sent out, most firms have no way to track whether the bill has been seen, reviewed, or even opened, and many clients go up to sixty days before receiving a reminder or a follow-up notification. As a result, the lack of automation and visibility in the legal billings process leads to real, heavy costs for firms, from AR leakage, to increased write downs to reduced client satisfaction.
Recognizing this need, Oddr seeks to simplify and shine light on the entire invoice-to-cash process, offering a unified, comprehensive view of every invoice’s lifecycle. Oddr’s platform provides traceability and automation to streamline error-free bill creation while offering insights on client behavior and firm performance. Oddr is also working to empower clients with access to historical invoices, payment scheduling capabilities, and one-click payment technology through a full self-service portal. Oddr’s approach aims to reduce Days Sales Outstanding, increase collection realization, and provide unprecedented visibility to cash flow, empowering law firms to transform their billing and collections functions.
Milan, Saurabh, and Sumit, Oddr’s co-founders, bring over forty years of experience developing legal tech products. They have a deep understanding of law firms’ pain points and joined forces to launch Oddr, combining their expertise in product development, engineering, and customer success to transform the billing experience for firms and their clients.
One of The LegalTech Fund’s investment theses is leveraging technology to structure legal data and automate legal processes, which Oddr aims to do so while helping firms improve their bottom line. Oddr empowers firms with an efficient and intuitive billing and collections platform, allowing legal professionals to focus on how to best support their clients. We are excited to work alongside a team with both an acute understanding and a broad vision for what the future holds in the legal industry.
Please join us in welcoming Oddr into The Legal Tech Fund family, and let us know if we can connect you to learn more.