Chicago, IL || Los Angeles, CA || San Francisco, CA || or United States (Remote)
Who We Are:
At Formic, we're on a mission to revolutionize American manufacturing and create more abundance in the world. We believe in continuing the American legacy of innovation by making automation accessible to all manufacturers and increasing their factory productivity by 10x.
Built upon deep expertise in robotics and manufacturing, our unique Pay-for-Productivity robotics solutions combine the best automation technology, tools, and uptime services for manufacturers, paving the way for a new era of supercharged efficiency and competitiveness.
As the world faces growing pressure from rising costs and labor shortages, Formic is a uniquely powerful tool in overcoming these challenges. Fueled by our vision for a resurged “Made in America,” we're growing fast - achieving 70% quarterly growth in customer count and ARR, with ~30% of our customers having already deployed multiple systems.
Supporting us in our mission, with investments thus far totaling over $60 million, are backers including Blackhorn Ventures, Mitsubishi HC Capital America, NEC, Lorimer Ventures, Translink Capital, Alumni Ventures, FJ Labs, Lux Capital, Initialized Capital and founders of multiple Fortune 50 companies.
About the General Counsel role:
We are looking for a highly skilled General Counsel with deep expertise in asset finance, equipment finance, or securitization finance to join our dynamic leadership team. This role will play a critical part in shaping the legal framework that supports our financial structures and business strategy as we continue to scale.
As General Counsel, you will:
- Provide strategic legal counsel to the executive team and senior management on a wide range of legal issues, focusing on asset finance, equipment finance, project finance, and other specialty finance matters.
- Develop and implement legal strategies that support business growth and foster long-term relationships with key stakeholders, partners, and customers.
- Oversee the drafting, negotiation, and management of complex commercial agreements, including vendor, partner, and customer contracts, ensuring all deals align with the company's financial and business objectives.
- Mitigate risks by advising on legal considerations related to business strategies, commercial transactions, and customer relationships.
- Collaborate with cross-functional teams to streamline internal processes, develop policies, and enhance operational efficiency while maintaining legal compliance.
- Manage external legal counsel and resources efficiently to support the company's needs while optimizing cost and effectiveness.
- Ensure ongoing compliance with relevant laws and regulations, including those related to financing structures, tax matters, and corporate governance.
- Lead the resolution of contract disputes, advising on legal issues, contract interpretation, and remediation strategies to maintain strong commercial relationships.
What makes you a great fit:
- Juris Doctor (J.D.) degree and active membership in at least one U.S. state bar.
- 10+ years of relevant legal experience, with a proven track record in asset finance, equipment finance, project finance, or similar specialty finance domains. Experience in both in-house roles and top-tier law firms is highly desirable.
- Extensive experience drafting and negotiating complex financial agreements, particularly in the areas of financing, leasing, asset management, and capital investment.
- Demonstrated ability to provide pragmatic, business-oriented legal advice in a fast-paced, high-growth environment.
- A strategic thinker with the ability to anticipate legal challenges, assess risks, and develop proactive solutions to complex business problems.
- Strong leadership and project management skills, with a proven ability to manage multiple priorities, handle high volumes of work, and meet tight deadlines.
- Experience in building and leading high-performing legal teams, with an emphasis on fostering collaboration across functions.
- Excellent communication skills, both written and verbal, with the ability to explain complex legal concepts in a clear and concise manner.
- Deep knowledge of the regulatory environment impacting asset finance and project finance, with the ability to navigate evolving legal landscapes.
Total Rewards:
Total rewards packages at Formic consist of salaries benchmarked against similar stage growth companies, insurance (medical, dental, vision, life, STD, LTD), and equity in Formic itself. As an early stage startup, equity is an important part of our investment in you, and your investment in Formic. When Formic succeeds, we all succeed.
Final offer amounts are custom-crafted, based on the cash/equity ratio preference of the candidate, as well as their experience, geographical location and cost of labor, and more, and may vary from the range listed below. Ultimately we're seeking top performers who will make a difference to our business, and we're open to negotiating the compensation structure for the right candidate. The expected base pay range for this position is below.
Base Salary Range:
$185,000 - $235,000 USD
What we look for:
We're building a company from the ground up, so every single person we hire has a massive impact on our team, culture, and ability to accomplish our mission. While each individual brings their own unique skills and perspectives to Formic, we look for people who share our vision and act in alignment with our Operating Principles. If this sounds like you, Formic could be the place for you:
- Fearless Optimism: You share our ambitious vision of what we can accomplish. You're aware of the challenges we will face as a startup doing new things in an old space, but you're energized by the incredible opportunity we have to drive change for our customers, and for the manufacturing industry at large.
- Factories First: You have a strong customer focus, no matter who your customer is. You seek to make things easier and better for our customers, even if it makes your job a little harder.
- Today, Not Tomorrow: There are always plenty of projects to tackle in a startup, but you prioritize, take accountability for work, and have a bias toward action.
- Be Right Often: You don't do things just because that's how they've always been done. You keep looking for ways to improve, seek out feedback along the way, and back your decisions up with data.
- Made of Rubber: Just like rubber, when you fall you bounce back up. You know there's going to be a lot of challenge and change in our work ahead but you are adaptable, resilient, and ready to thrive through it all.
- Good Baton Passes: You work with a desire to make things easier and better for your team members. You use empathy to understand the needs and goals of others and support each other so Formic can be successful together.
What We Offer:
Formic believes we do our best work when we are equipped to take care of ourselves and our loved ones. To support this Formic offers comprehensive benefits and perks for full-time US-based employees, including:
- Equity in Formic: your slice of ownership in a fast-growing Series A startup, backed by some of the best investors in the world.
- 99% coverage on our base Medical, Dental, and Vision insurance plans (75% coverage for dependents) via Blue Cross Blue Shield and Guardian, with buy-up options, as well.
- FSA & DCFSA.
- Life insurance, Short-Term Disability, and Long-term Disability plans (covered at 100%) via Guardian.
- Employee Assistance Program.
- Paid parental leave.
- Company-sponsored 401k.
- Home Office Stipend for remote and hybrid roles.
- Monthly Phone/Internet Reimbursement.
- Flexible time off policy and 10+ company holidays.
- Opportunity to join a talented and diverse team united behind our mission to revolutionize American manufacturing.
As our team grows, our benefit and perk offerings for employees based outside of the United States will vary. We are happy to discuss these options with you as part of our recruiting and interviewing process. Temporary or contract positions are not eligible for Formic employee benefits and perks, except where legally required.
Formic is an equal opportunity employer. We do not discriminate on the basis of race, color, religion or religious creed, sexual orientation, gender, gender identity, marital status, family or parental status, disability, military or veteran status, or any other basis protected by law. All employment decisions are based on a person's merit, business needs, and role requirements. If you require further accommodations or have questions regarding accessibility of our roles, please reach out to ...@formic.co.
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