> It's worth noting that Atrium's Series A had a mind-boggling 92 investors [0].

In the article somewhere it suggested that Justin was more or less testing the waters and getting investors interested as future customers in their product. It sounds like a weird mix between sales and fundraising, but a smart interesting one none the less.

If 100 investors write $50k checks, it's a small amount of money to them compared to the value the legal automation software could potentially deliver.

100 * $50k = $5M let's say for 20% of the company --> $25M round for them. Numbers are hypothetical but that'd be a pretty big A round. I bet he didn't just raise $10M off that many checks.