Skribe, Inc.
Testimony Intelligence Platform · Transforming Testimony. Accelerating Justice. · Founded 2023
GSV INVESTMENT
$100,000 DM
SAFE · Fund II · Studio
VALUATION CAP
$12M SA
15% discount · Sep 9, 2025
LQ ARR
$1,814,946 VT
~500% YoY (2023–2024)
GROSS MARGIN
89.5% DM
Rule of 40: 94.9%
BLENDED MOIC
1.13x VT
Blended value $113K
FINANCIAL ASSESSMENT
P&L Summary — 2025 EBIT Monthly (USD)
Source: Skribe Deal Memo, IC Slides, Financial Data, GS Value Tracker Dec 2025
| PERIOD | REVENUE | METRIC |
|---|---|---|
| 2023 (Launch Year) | ~$167K | Initial traction |
| 2024 (First Full Year) | ~$1M | ~500% YoY growth |
| Q1 2025 (Annualized) | $1.7M+ | Accelerating pipeline |
| LQ ARR VT | $1,814,946 | 89.5% gross margin |
| 2025 Forecast | $1.8M–$2.16M | 1,500–3,100 live events |
| 2025 EBIT (Total) DM | ($703,901) | Not yet profitable |
2025 MONTHLY EBIT (USD)
LQ ARR
$1,814,946
GS Value Tracker
GROSS MARGIN
89.5%
Deal Memo
RULE OF 40
94.9%
Growth + margin
MONTHLY BURN
~$50K
~2.5 mo runway at IC
INVESTMENT STRUCTURE
Deal Terms & Valuation
Source: SAFE Agreement (Large Investors — Discount plus Cap — FINAL), Skribe Deal Memo, GS Value Tracker Dec 2025
SAFE TERMS SA
SecuritySAFE
Valuation Cap$12,000,000 SA
Discount15%
GSV Investment$100,000
GSV Stake (FD)~0.83%
Investment DateSep 9, 2025
VALUATION VT
AllocationStudio
Valuation Multiple6x Gross
Revenue-Based Value$1,814,946
Growth-Based Value$126,543
Blended Value$113,272
MOIC1.13x
MARKET & TAM DM
| SEGMENT | VALUE |
|---|---|
| U.S. TAM (Depositions) | $16B |
| Global TAM (Legal Transcription) | $21B |
| SAM (Non-Stenographic States) | $13.6B |
| SOM (2% U.S. Market) | $320M |
| Legal Tech Market (2027) | $50B Projected |
85% of U.S. states allow non-stenographic depositions
Structural stenographer shortage creates tailwind for AI alternatives
Raise Context: $1M Seed Extension with ~60% committed at time of IC. Total raised to date: ~$4M. Monthly net burn ~$50K with ~2.5 months runway at IC date. Successful close critical for continued operations.
INVESTMENT HISTORY
Investment Timeline
Source: Skribe Deal Memo, SAFE Agreement, IC Slides, Data Room Materials
2023
Skribe, Inc. founded; initial product development
2024
First full calendar year of revenue (~$1M); 500% YoY growth
JUL 29, 2025
IC Slide created (Jameson Cronin)
AUG 2025
Seed Extension Investor Deck distributed
SEP 8, 2025
Deal Memo prepared (Dougal Cameron)
SEP 9, 2025
GSV Fund II invests $100K via SAFE ($12M cap, 15% discount)
SEP–NOV 2025
Data Room materials updated (Nico)
2025 TARGET
$1M Seed Extension (~60% committed)
TRACTION METRICS
ATTORNEYS
700+
Onboarded across 25+ states
LAW FIRMS
500+
Active on platform
TOTAL RAISED
~$4M
Seed round · extension in progress
PRODUCT & COMPANY
Skribe — Testimony Intelligence Platform
Source: Skribe Deal Memo, IC Slides, Product Documentation
Skribe is transforming how legal testimony is captured, analyzed, and presented. As the first mover in "Testimony Intelligence," Skribe combines real-time deposition hosting, a secure video testimony repository, and AI-driven insights into a single platform for the $16B U.S. deposition market.
The viral growth model turns opposing counsel into customers: 30% purchase deposition output ($757K zero-CAC revenue), and 10% convert to scheduling clients ($603K new recurring revenue). Combined: $1.36M projected additional revenue from the viral flywheel.
PRODUCT SUITE
Skribe Live (Real-Time Hosting)
Skribe Library (Video Repository)
AI-Driven Insights & Summaries
Smart Annotations & Search
Auto Q&A Extraction
Intelligent Case Prep
PLATFORM PERFORMANCE
| METRIC | VALUE |
|---|---|
| Hours of Testimony Recorded | 7,000+ |
| Hours of Video Delivered | 3,000+ |
| Hours Processed | 3,500+ |
| Platform Uptime | 99.9% |
| GenAI Feature Adoption | 20%+ |
| Attorney Angel Investors | 30+ |
| 2025 Live Events (Projected) | 1,500–3,100 |
Viral Growth Flywheel
3,100 live events → 30% OC buy copies ($757K) → 10% OC convert to clients ($603K) = $1.36M projected zero-CAC revenue
INVESTMENT THESIS
Why Golden Section Invested
Source: Skribe Deal Memo, IC Slides, Investor Deck
Category-Defining Platform: "Testimony Intelligence" is a new category. Skribe is the first mover combining real-time deposition hosting, video repository, and AI-driven insights into a single platform for the $16B deposition market.
Viral Zero-CAC Growth: Opposing counsel becomes the customer acquisition channel. 30% buy copies, 10% convert to scheduling clients. Each deposition drives organic expansion with near-zero customer acquisition cost.
Exceptional Unit Economics: 89.5% gross margins with Rule of 40 at 94.9%. SaaS-like margins with marketplace network effects. Near-zero CAC amplifies capital efficiency.
Explosive Early Growth: ~500% YoY growth (2023–2024). First full calendar year at ~$1M. Q1 2025 annualized at $1.7M+. 700+ attorneys and 500+ law firms in under 2 years.
$16B TAM, 85% SAM Penetration: 85% of U.S. states allow non-stenographic depositions. Structural stenographer shortage creates tailwind. Legal tech market projected to reach $50B by 2027.
Founder-Market Fit: CEO Tom Irby owned a court reporting agency for decades — built from lived experience. Chairman Karl Seelbach is an 18-year litigation attorney. 30+ attorney angel investors validate product.
Strong Product Moat: 3,500+ hours processed, 7,000+ hours recorded. AI features adopted by 20%+ users. 500+ law firms create network effects. 99.9% uptime demonstrates platform maturity.
RISK ASSESSMENT
Key Risks & Concerns
Source: Skribe Deal Memo, IC Slides, Financial Data
HIGH
Short Runway: ~2.5 months runway at IC date. Dependent on successful close of $1M seed extension (~60% committed). Failure to close could force significant operational changes or wind-down.
HIGH
Revenue Concentration: Revenue tied to litigation cycles. Economic downturns, tort reform, or changes in litigation patterns could significantly impact deposition volume and revenue.
MED
Early Stage: Less than 2 years of revenue history. $1.8M ARR is promising but still early. Not yet profitable (2025 EBIT: -$703K). Limited track record of sustained execution.
MED
Competitive Risk: Established court reporting firms (Veritext, US Legal) could build competing technology platforms. Well-funded LegalTech startups may enter the testimony space.
LOW
Regulatory Risk: Non-stenographic deposition rules vary by state. Currently allowed in 85% of states. Regulatory changes could expand or restrict addressable market in specific jurisdictions.
LOW
Technology Risk: Proven platform with 99.9% uptime, 3,500+ hours processed. AI transcription accuracy continues improving. Established technical foundation reduces execution risk.
Mitigating Factors: 89.5% gross margins provide operating leverage. Viral growth model reduces capital needs. 30+ attorney investors validate demand. Seed extension 60% committed. Founder-market fit (CEO owned court reporting agency).
LEADERSHIP
Team
Source: Skribe Deal Memo, IC Slides
TI
Tom Irby
CEO
35+ years of leadership experience. Former court reporting agency owner — built Skribe from firsthand understanding of industry pain points. Deep domain expertise, strong industry relationships. Founder-market fit validated by 30+ attorney angel investors. tom@skribe.ai · 512-293-8709
KS
Karl Seelbach
CHAIRMAN
18+ years litigation attorney. Founder of Doyle & Seelbach PLLC. Deep understanding of legal workflow and deposition process. Provides strategic legal industry insight.
CB
Cory Bryan
HEAD OF PRODUCT
17+ years experience, $150M in product management. Drives product vision and roadmap for the Testimony Intelligence platform.
MS
Mark Schell
VP ENGINEERING
25+ years leading software engineering teams. Ensures platform reliability (99.9% uptime) and scalability for growth.
Document Index
8 source files referenced in this memo
Skribe Deal Memo — Sep 2025
Investment analysis & recommendation · Dougal Cameron
IC Slide — Jul–Sep 2025
Investment committee presentation · Jameson Cronin
Seed Extension Investor Deck — Aug 2025
Company fundraising materials
Skribe Data Room — Sep–Nov 2025
Due diligence materials (7 files) · Nico
SAFE Agreement — Final
SAFE terms & conditions (encrypted PDF)
Wire Instructions
Banking & wiring details (Google Docs)
GS Value Tracker — Dec 2025
Fund portfolio valuation · okutch / Isaac Shi
GSV Fund II Record — Sep 2025
Investment transaction records
GP RECOMMENDATION
Verdict: PROCEED — $100K SAFE
Skribe represents a compelling entry into testimony intelligence, a new category in the $16B deposition market. The viral growth model (opposing counsel to customer) drives near-zero CAC while generating 89.5% gross margins. ~500% YoY growth, 700+ attorneys, and 500+ law firms demonstrate strong product-market fit. CEO Tom Irby's decades of court reporting industry experience provides unmatched founder-market fit. At a $12M cap, the SAFE offers attractive entry for a company with $1.8M ARR and Rule of 40 at 94.9%.
BLENDED MOIC
1.13x
On $100K deployed
BLENDED VALUE
$113,272
6x Gross valuation multiple
USE OF FUNDS
Platform & AI expansion
Sales team scaling
State-by-state expansion
Sales team scaling
State-by-state expansion
NEAR-TERM CATALYST
Close $1M Seed Extension
~60% committed at IC date
KEY MILESTONE
Scale to $2M+ ARR
Expand to 40+ states, GenAI 40%+
KEY CONCERN
Short Runway
~2.5 months at IC; seed extension critical
Prepared by Derek · September 2025 ·
Sources: Skribe Deal Memo, SAFE Agreement, IC Slide, Investor Deck, Data Room, GS Value Tracker, Fund II Record