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08:39:35.473+00", "sectorRaw": "artificial intelligence", "sourceUrl": "https://www.businessinsider.com/time-by-ping-legal-tech-pitch-deck-funding-vc-2022-3", "deckKindAt": "2026-04-28 07:19:06+00", "highlights": "Time by Ping raised a $36.5 million Series B;; the legal-tech startup announced in March. The startup helps lawyers automate the time-tracking process using artificial intelligence. CEO and cofounder Ryan Alshak walked us through the pitch deck they used to impress investors.", "slideCount": 22, "companyName": "Time by Ping", "description": "Time by Ping raised a $36.5 million Series B;; the legal-tech startup announced in March. The startup helps lawyers automate the time-tracking process using artificial intelligence. CEO and cofounder Ryan Alshak walked us through the pitch deck they used to impress investors. Legal-tech startup Time by Ping announced in March that it raised $36.5 million for its Series B. Ryan Alshak;; an attorney;; and Kourosh Zamani;; a business executive;; founded Time by Ping in 2016 as a way to help lawyers and other professionals automate the cumbersome timekeeping process. \"We want to redo the working model because it no longer works;;\" Alshak;; the startup's CEO;; said. \"The average knowledge worker will spend nine hours a day working and adding value for only three of those hours.\" Alshak decided to start with the legal industry;; which requires lawyers to track their work in six-minute increments. Manual timekeeping is prone to human error and;; obviously;; takes up time. In an industry where hourly rates are high;; these inefficiencies translate into a loss of $140 billion in revenue for the legal industry each year;; according to Alshak. Time by Ping integrates with commonly used programs like Microsoft Suite;; email;; Slack;; and internet browsers to track how much lawyers spend on each task. It then automatically creates time entries using natural language processing and machine learning;; and presents that data in a dashboard. One of Time by Ping's customers;; a law firm;; increased individual lawyer profit by an average of $90;;000 each over a year;; Alshak said. The startup currently has 30 clients in the legal industry and is working with one of the top accounting firms in the world. It plans to use the Series B funding to expand into other time-based professional sectors;; like consulting and accounting;; and to boost its machine-learning capabilities;; Alshak told Insider. The Series B was led by venture-capital firms ACME Capital and Anthos Capital. ACME's portfolio includes high-profile companies like Airbnb;; DiDi;; Slack;; and Robinhood. Anthos has invested in the likes of Gopuff;; Honey;; and Curology. Time by Ping previously raised a $13 million Series A in 2019;; which allowed the startup to flesh out its product and improve security and data-privacy features. The legal-tech startup ultimately wants to help workers and transform professional services firms by shifting the model away from selling time to emphasize value. \"If you're selling time in a professional service the next five;; 10 years;; you're bringing a knife to a gun fight;;\" Alshak said. 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