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Deeligence’s Strategic Leap with Hive Founders

Transforming Legal Tech

We are excited to share with you this recent fundraising success story about Deeligence - founded by Elena Tsalanidis, a graduate of cohort 4 of the Investment Readiness Accelerator!

Elena was able to raise her AUD $1M round less than four months after completing the program. Read on below to find out how!

Pioneering change in legal tech with Hive Founders' support

Deeligence, a cutting-edge legal tech startup, is transforming the due diligence process for mergers and acquisitions lawyers. Co-founded by Elena Tsalanidis and her colleague—both former lawyers with deep roots in legal operations and tech—Deeligence has introduced an innovative solution tailored to enhance efficiency in legal practices.

Background: The genesis of a tech-driven solution

Elena Tsalanidis's journey began in the bustling legal tech scene of London, where she spearheaded operations that helped lawyers optimise their workflow. Her experiences alongside her co-founder, who was involved in developing automation tools for major law firms in London, spotlighted the inefficiencies plaguing traditional due diligence processes. Their shared vision for a streamlined solution led to the creation of Deeligence—the for legal due diligence.

Challenge: Navigating the start-up landscape

Despite their robust background and innovative ideas, Elena and her co-founder faced the typical challenges of any startup: securing investment and refining their business model for market readiness. They needed guidance to hone their strategy, tighten their financial projections, and prepare convincingly for pitches to potential investors.

“Fundraising in an objectively hard economic climate was daunting. With Hive we were able to navigate the complexities with confidence and clarity. Hive helped us think critically about our pitch deck and business, emphasise our strengths and cut parts out that didn't serve us, making us better prepared and more compelling at VC Investment Committee meetings.”

Solution: Strategic partnership with Hive Founders

Elena's engagement with Hive Founders began after her co-founder spotted the program on an London Business School forum, attracted by its unique focus on promoting female leadership in tech. Hive's comprehensive program offered them mentorship, rigorous pitch practice, and insights into financial modelling that were crucial for their growth.

Hive Founders' tailored approach included:
  • Direct mentorship: Intensive sessions with Hive mentors, including dry runs of their investor pitches, which significantly enhanced their presentation skills.

  • Financial acumen: Refinement of their financial models, ensuring that their projections and business valuations were robust and defensible.

  • Networking opportunities: Access to a network of potential investors and advisors who were instrumental in their subsequent funding rounds.

  • Business robustness: Hive's approach is focused on ensuring you are building a strong and compelling business (that will appeal to investors) so we collaborated on ensuring all aspects of our business were evaluated and buttoned up.

Results: A testament to empowered leadership

The impact of the Hive Founders' program on Deeligence was profound and multifaceted:

Successful fundraising:

One of the most significant outcomes of participating in the Hive Founders program was Deeligence's ability to secure vital funding in just four months after completing the program; Deeligence closed a groundbreaking funding round, successfully raising over 1 million Australian dollars. This substantial capital injection was pivotal for scaling their operations and accelerating growth, demonstrating the effectiveness of the strategic guidance and robust financial modelling support provided by Hive Founders.

Enhanced Founder Dynamics:

The rigorous mentorship and pitch practice facilitated by Hive Founders not only honed their business acumen but also reinforced the dynamic partnership between Elena and her co-founder. Feedback from venture capitalists during funding rounds highlighted the compelling synergy between the founders, a key factor that resonated well with investors and was instrumental in their fundraising success.

Broader Impact:

Beyond financial achievements, the program’s influence extended to Deeligence's operational capabilities. The company has expanded its customer base and begun integrating artificial intelligence features into its platform, directly responding to customer needs and significantly enhancing market competitiveness.

Conclusion: Driving future innovations

The Deeligence journey, supported by Hive Founders, exemplifies how targeted entrepreneurial programs can catalyse the transformation of innovative startups. By focusing on leadership, comprehensive business skills, investor readiness, and strategic networking, Hive Founders has not only propelled Deeligence into  a potential market-leading position, but also set a precedent for how structured support can accelerate startup success. Deeligence’s story is a powerful testament to the potential that can be unlocked through such programs.

“Our experience with Hive was empowering, it equipped us with the tools and confidence to attract investors. We left with amazing guidance, new connections and the feeling of being investment-ready.”

Want to be like Elena? Cohort 8 of the Investment Readiness Accelerator starts on July 8!

Visit our Website or schedule a call to learn more!


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