Q&A with Reza Ghaffari of XIRA

Actually, XIRA has won the 2022 LegalWeek & ALM award for innovative "game change" Practice Management Software. XIRA creates a virtual platform for attorneys to manage their practice and also market themselves on XIRA's marketplace. The virtual practice aspect empowers solos to practice like the big firms by allowing them to expand their geographical reach. For certain practice areas it allows attorneys to market themselves and serve clients in all 50 states.

To fuel the marketplace, it would be solo/small firm attorneys. There are 500k attorneys in that category who are always looking for economical ways to market themselves and gain new leads. There are also over 200k inactive attorneys who want to come back and practice as solos who can hang their shingle on XIRA in less than 5 minutes start their practice. Then there are 35000 new GenZ lawyers every year most of whom want to go solo and enjoy the flexibility and freedom that virtual provides. On the flip side 60% of American households have at least one pending matter that they are not addressing because it’s hard to find a lawyer or it’s expensive. XIRA makes it both easy and affordable for them to get legal help. The unaddressed market is about $40B a year at one hour of consultation.

We have multiple revenue streams both transactional and recurring. For those that want to use the platform for finding new clients and use its communication tools, we have an affordable monthly subscription. For those who wish to use the software to its fullest, we provide it for almost free as long as they have a connected calendar and bill at least $4k a month on the platform; then our revenue comes from the delta of discounted credit card fees we pay vs. the standard fees they are used to paying. In addition, there is a flat fee charge to the attorneys for every new client that books and meets with them. This fee is fraction of what they pay to lead generation companies or spend on marketing.