In a recently published interview for the Thomson Reuters' Legal Executive Institute, Allegory founder Alma Asay shares how "The Worlds of Silicon Valley and New York Law are Very Different for Women."
Early after founding Allegory, Asay spent six months in Silicon Valley and discovered first-hand the challenges of financing a start-up.
First, there was the culture shock of how differently women are treated in the tech space compared to the legal industry:
“ In the legal world, most executives are used to being around professional women, even if numbers drop off as you get more senior. That’s not always true in the start-up world.”
The next challenge was defending investment in a market where purchasing behaviors do not behave according to typical VC models. From her background in litigation, Asay knew there was a need and a gap in the market for a tool like Allegory, but longer purchasing cycles and slow-adoption meant that Allegory was not a good fit for the opportunities that VCs typically sought.
Forging her own path
Instead of continuing to fight things she couldn't change, Asay decided to forge a new path that made more sense for her company:
“ We now have opportunities to raise money from people or small organizations that aren’t traditional VCs. They’re more attuned to the legal market, which makes it easier. And I don’t get the sense that I’m being treated differently.”
Read the full interview here on Thomson Reuters Legal Executive Institute. The article was published as part of the Transforming Women's Leadership series.