Portfolio Spotlight: Troy Pospisil, CEO of InCloudCounsel*
Each month, Battery highlights a different portfolio-company CEO with our “Five Questions in Five Minutes” feature, showcasing the diversity of the Battery portfolio across investment stages, sectors and geographies. The views expressed here are those of the CEO, not Battery.
What does your company do in 10 words or less?
InCloudCounsel automates and enhances high-volume legal processes for large enterprises.
What is your favorite piece of management/leadership advice?
Culture eats strategy for breakfast. – Peter Drucker
Success in business is all about building high performing teams. Culture is the foundation for so much of what enables people and teams to perform their best. As a leadership team, it is critical that you are clear and consistent (in words and actions) on your company’s values, purpose, and vision. The most important business and cultural decision that managers make every day is who to hire. If you hire people who are already in alignment with your culture, it makes it much easier to maintain that culture as you scale.
What’s the most under-rated trend in technology, in your opinion?
Distributed, virtual workforces. There are several trends in technology, culture, and politics that, combined, are leading to a massive transition in how people work and interact. The ultimate result will be a major shift from people working in centralized (e.g., large headquarter) offices to some combination of home offices and a higher number of smaller offices. Some of the trends that have contributed to this shift in how work gets done include broader geographic access to high bandwidth internet, high residential and commercial real estate inflation in tier 1 and tier 2 cities, better digital tools for communication and collaboration (e.g., Zoom, Trello, Slack, Google Docs, Asana), underinvestment in transportation infrastructure (making commuting difficult), and increasing comfort interacting digitally (as more of the workforce has grown up on cell phones, social media, and online dating). This transition will, in turn, have broad implications for the future of our culture and politics.
What’s a fact about InCloudCounsel few people know?
Over 50% percent of our team came through the network of an existing team member! As anyone here will tell you, InCloudCounsel is an extremely fun, challenging, and rewarding place to work. We enjoy delivering value to our customers and lawyer partners, solving interesting problems, and working together to scale into a market-leading company. This is also why our average annual employee retention over the six-year life of our company is over 95%.
BONUS QUESTION: How are you not a lawyer?
Hey, you blew my cover! It’s true I’m not a lawyer. But prior to starting InCloudCounsel with my co-founders Lane and Ben (who is a lawyer), I spent quite a bit of time working with lawyers and contracts. I worked in middle-market private equity investing, which requires becoming intimately familiar with transaction-related documents such as operating agreements, purchase agreements, and credit agreements. Additionally, I worked closely with the companies we were invested in on many major spending and hiring decisions, which required me to help negotiate a wide range of contracts, including leases, employment agreements, engagement letters, vendor contracts, etc. It was this unique set of overlapping experiences in law, business, and technology that really put me in a position to start InCloudCounsel, and to try to understand and solve this large problem of streamlining high-volume legal processes.
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