Element Standard Company Profile

Background

Overview

Element Standard is a legal technology company founded in 2019 and headquartered in Fort Lauderdale, Florida. The company specializes in providing CONTROLit™, a Software as a Service (SaaS) solution designed to enhance litigation management by offering structured case updates, milestone tracking, and contextual visibility. This platform aims to improve client communication and operational efficiency for law firms.

Mission and Vision

Element Standard's mission is to empower law firms with innovative tools that foster transparency and trust in the litigation process. By integrating CONTROLit™ into their practices, firms can deliver clearer, more consistent client communication, thereby enhancing client satisfaction and positioning themselves competitively in the legal market.

Primary Area of Focus

The company's primary focus is on litigation management, providing a platform that maps each case's journey and delivers daily, context-rich updates on key deadlines, decisions, and developments. This approach transforms litigation from a complex process into a shared, strategic experience for both the firm and the client.

Industry Significance

In the legal technology sector, Element Standard addresses the critical need for enhanced client communication and transparency in litigation. By offering a solution that demystifies the litigation process, the company contributes to the modernization of legal practices and the improvement of client relationships.

Key Strategic Focus

Core Objectives

Enhancing Client Communication: Providing law firms with tools to deliver structured and transparent case updates to clients.

Improving Operational Efficiency: Streamlining litigation processes to reduce complexity and increase productivity for legal professionals.

Differentiating Law Firms in the Market: Enabling firms to offer alternative fee arrangements with confidence by providing clear and consistent client communication.

Specific Areas of Specialization

Element Standard specializes in litigation management solutions that focus on client transparency and operational efficiency. CONTROLit™ is designed to make the litigation process visible, understandable, and navigable for both the firm and the client.

Key Technologies Utilized

The company employs modern cloud-based technologies, including Amazon Web Services (AWS) and Google Cloud, to ensure scalability, security, and reliability of its platform. The front-end of CONTROLit™ is developed using React, providing a responsive and user-friendly interface.

Primary Markets Targeted

Element Standard primarily targets law firms seeking to modernize their client communication and litigation management processes. The platform is suitable for firms of various sizes aiming to enhance client trust and satisfaction through improved transparency.

Financials and Funding

Funding History

As of the latest available information, Element Standard has raised a total of $1.5 million in funding. The most recent funding round was a seed round completed in 2020, which raised $1 million. Notable investors include legal technology-focused venture capital firms and angel investors with backgrounds in the legal and technology sectors.

Utilization of Capital

The capital raised has been utilized to further develop and enhance the CONTROLit™ platform, expand the company's operational capabilities, and support marketing efforts to increase market penetration and brand awareness.

Pipeline Development

Key Pipeline Candidates

Element Standard is focused on the continuous development of CONTROLit™, with plans to introduce additional features such as advanced analytics, integration with other legal software tools, and enhanced customization options to meet the diverse needs of law firms.

Stages of Development

CONTROLit™ is currently in the growth stage, with ongoing enhancements and feature additions based on user feedback and market demands.

Target Conditions

The platform is designed to address the challenges of client communication and transparency in litigation, aiming to improve client trust and satisfaction.

Anticipated Milestones

Future milestones include the release of new features, expansion into additional markets, and the establishment of strategic partnerships to enhance the platform's capabilities and reach.

Technological Platform and Innovation

Proprietary Technologies

CONTROLit™ is Element Standard's proprietary platform that offers structured case updates, milestone tracking, and contextual visibility to enhance client communication and operational efficiency in litigation.

Significant Scientific Methods

The platform utilizes data visualization techniques to map each case's journey, providing daily, context-rich updates on key deadlines, decisions, and developments. This approach transforms litigation from a complex process into a shared, strategic experience for both the firm and the client.

Leadership Team

Key Executives

Jaron Luttich: Co-founder and Head of Customer Experience and Go-to-Market Strategy. Jaron has a background in legal technology and is responsible for overseeing customer experience and market strategy.

B. P.: Co-founder. B. P. brings expertise in legal operations and plays a key role in product development and strategic planning.

R. H.: Co-founder and Strategic Advisor. R. H. offers strategic guidance and has a background in legal practice management.

Competitor Profile

Market Insights and Dynamics

The legal technology market is experiencing significant growth, driven by the increasing need for law firms to modernize their operations and enhance client communication. Firms are seeking solutions that offer transparency, efficiency, and improved client satisfaction.

Competitor Analysis

Element Standard operates in a competitive landscape with several key players offering litigation management and client communication solutions. Notable competitors include:

Litify: Provides a comprehensive legal management platform that integrates case management, document automation, and client communication tools.

Clio: Offers cloud-based legal practice management software with features for case management, billing, and client collaboration.

MyCase: Provides a legal practice management solution with tools for case management, billing, and client communication.

Strategic Collaborations and Partnerships

Element Standard has established partnerships with legal technology firms to integrate CONTROLit™ with other widely used legal software tools, enhancing its functionality and appeal to a broader range of law firms.

Operational Insights

Element Standard differentiates itself by focusing on client transparency and structured communication, addressing a critical need in the legal industry. Its cloud-based platform ensures scalability and security, catering to the diverse needs of law firms.

Strategic Opportunities and Future Directions

The company plans to expand its feature set, explore new market segments, and establish additional strategic partnerships to enhance its platform's capabilities and reach. By continuously innovating and responding to market demands, Element Standard aims to solidify its position in the legal technology sector.