One of the things that virtually no company can exist without is contracts. Contracts with customers, employees, suppliers: a business wouldn’t be a business without them. Yet somehow, we are still stuck with solutions like Word, which was created in the 1980s. That’s where Leeway comes in: it’s an intuitive and collaborative platform with which in-house legal & finance teams are able to give business users autonomy by streamlining legal workflows.
In our view, the element that is absolutely critical to success is the momentum founders bring to the table. Therefore, we are looking for teams that have massive intrinsic drive; teams that give us the feeling great things will happen, whether henQ is involved or not. In this respect, Leeway hit the ball out of the park during our interactions. From our very first meeting, Antoine, Thibaut, and Sébastien amazed us with their detailed knowledge of everything that is important to running Leeway.
We were particularly impressed with the many small features the team had built to perfectly fit the workflow of target users. Moreover, they had worked on their product for a highly specialized user group (legal counsels) less than one year, but – despite not having a legal background themselves – were still credited in customer reference calls for its great fit with day-to-day workflow. Last but not least, their intelligent and original LinkedIn content marketing strategy was among the best we have seen, thought through right until the tiniest little detail: there literally wasn’t a question we could ask that they hadn’t come up with themselves before.
As a B2B software company in the seed stage, Leeway is at the heart of our focus and what henQ knows best. Therefore, we will do all we can to help Leeway in our three areas of support: 1.) hiring (henQ Companies to Hire From), 2. target setting (based on non-self reported benchmarks), and 3.) fundraising support.
In addition to helping companies, VC’s often also rather distract founders from going by their business as an unintended side effect of their “value add.” Moreover, sometimes it almost seems like the founders report to the board, as if there is a hierarchical relationship. henQ is very adamant about not distracting founders and a big proponent of zero hierarchy, cultivating a relationship of equals between VC’s, founders, and other board members. Leeway is too. That’s why henQ and the founders hit it off from the first minute. We ran a very swift investment process, in which we respected Thibaut’s, Antoine’s, and Sébastien’s time, focusing on the essentials (we are – in the end – investing in the seed phase and not doing a private equity deal) as well as the personal relationship.
Having such an open and equal way of working together, we cannot wait to see Leeway grow out to become the global leader in contract management software in the years to come!