Credit: eamesBot/Shutterstock.com The Hard Truth Behind ROSS Shutdown: Legal Tech Is 'Cash Poor'
ROSS Intelligence announced Dec. 11 it was shutting down operations because its legal battle with Thomson Reuters scared off investors and depleted its resources. Investors and software providers say other legal tech companies could easily meet a similar fate.
December 15, 2020 at 09:00 AM
5 minute read
ROSS shutting down last week is a cautionary example of how a legal tech company with lean cash reserves can be "cash poor" despite raising millions in outside funding. But while the legal research provider's closure and cash flow issues surprised some, others noted its situation is common across the legal tech industry and the broader startup market.
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