What is Avvo?
Avvo operates a comprehensive online legal directory that provides ratings and profiles for lawyers. The platform offers detailed information on legal professionals, including their experience, areas of practice, disciplinary history, client reviews, professional achievements, and industry recognition. Headquartered in Seattle, Washington, Avvo aims to demystify the legal landscape for consumers and connect them with qualified legal counsel. The company's extensive database and rating system have positioned it as a key player in the legal tech industry, facilitating informed decision-making for individuals seeking legal services.
How much funding has Avvo raised?
Avvo has raised a total of $187.8M across 6 funding rounds:
Series A
$3M
Series B
$10M
Series C
$10M
Series D
$36.5M
Series E
$56.8M
Other Financing Round
$71.5M
Series A (2006): $3M with participation from Benchmark Capital
Series B (2007): $10M led by Benchmark
Series C (2010): $10M supported by Benchmark Capital, DAG Ventures, and Ignition Partners
Series D (2014): $36.5M featuring DAG Ventures, Ignition Partners, Coatue Management, and Benchmark Capital
Series E (2015): $56.8M backed by Technology Crossover Ventures and Coatue Management
Other Financing Round (2015): $71.5M with participation from Technology Crossover Ventures, Vulcan Capital Management, and Coatue Management
Key Investors in Avvo
DAG Ventures
DAG Ventures is a mid-stage venture capital partnership that focuses on supporting visionary entrepreneurs and the elite early-stage VCs who back them. The firm emphasizes a service-oriented mindset, aiming for speed, consistency, and simplicity in its operations. Their investment portfolio includes companies like Upwork, Eventbrite, and Wix, which cater to various sectors such as online employment, event management, and web creation. DAG Ventures is dedicated to fostering innovation and growth in the technology industry.
Coatue Management
Coatue Management, L.L.C. is an employee owned hedge fund sponsor. The firm primarily provides its services to pooled investment vehicles. It launches and manages hedge funds for its clients. The firm invests in public equity, hedging markets across the globe and also in private equity. It also invests in equity-related securities such as equity swaps and options. Coatue was founded in December 1999 and is based in New York City with additional offices in Edison, New Jersey and Menlo Park, California.
Benchmark Capital
Benchmark is a venture capital firm that invests in early-stage companies. They are known for their hands-on approach and have backed numerous successful technology companies, focusing on disruptive innovation and scalable business models. Their portfolio spans various sectors, including software, internet services, and consumer technology.
What's next for Avvo?
With the recent major strategic investment, Avvo is poised for accelerated expansion and further development of its platform. The company's history of consistent capital raises, including Series A through Series E rounds, indicates a strong investor confidence in its business model and market potential. This latest financing is expected to fuel enhancements in user experience, broaden the scope of legal services offered, and potentially explore new market segments. Avvo's strategic focus will likely involve leveraging its data-driven insights to refine its lawyer rating system and improve client-attorney matching capabilities, solidifying its leadership in the online legal directory space.
See full Avvo company page
