SEATTLE, July 28, 2015 /PRNewswire/ -- Avvo® Inc.,
the leading online legal marketplace connecting consumers
and lawyers, today announced a $71.5
million round of financing led by Technology Crossover
Ventures (TCV), with participation from Vulcan Capital and Coatue,
an existing investor. Avvo will use the new funding to accelerate
hiring, increase Avvo brand awareness through continued marketing
initiatives, and expand its product offerings. This round brings
the total venture investment in Avvo to $132
million. Jay Hoag, founding
general partner of TCV, will join the Avvo Board of Directors.
"TCV seeks to partner with rapidly growing companies that are
disrupting their marketplace. Avvo fits that profile perfectly, as
they continue to make legal services easier and more accessible to
more consumers and businesses around the world," Hoag said.
"Our mission is to make legal services routine and easily
accessible in our daily lives," said Mark
Britton, founder and CEO of Avvo. "Having the backing of TCV
is a tremendous validation of that mission and our progress to
date, but we still have much to accomplish. You can expect us to
introduce simpler and real-time products to even more people. In so
many ways, we're just getting started."
More than 225,000 lawyers from around the country now
participate on Avvo and Avvo generates more than 650,000 contacts
from consumers to attorneys every month – double that of a year
ago. Since Avvo introduced the Avvo Rating in 2007, it has become
an industry standard, rating more than 97% of lawyers in
the United States. Avvo's legal
Q&A forum is the largest online, with nearly 7.5 million
questions and answers and consumer getting legal help every 5
seconds.
To learn more about Avvo, visit www.avvo.com.
About Avvo, Inc.
Avvo is the leading online
legal marketplace connecting consumers and lawyers. Avvo offers
on-demand, affordable legal advice through Avvo Advisor®,
which delivers a highly reviewed lawyer for 15 minutes over
the phone - anytime, anywhere - available online or via a
free app for iOS devices. In Avvo's Q&A forum, consumers can
get their legal questions answered for free by more than 225,000
participating lawyers or search the nearly 7.5 million previously
asked questions and attorney provided answers. Avvo's lawyer
directory provides Avvo-rated profiles, client reviews, and peer
endorsements for 97 % of all lawyers in the U.S., so consumers can
find the lawyer who's right for them. Avvo also helps lawyers
grow their businesses with marketing tools and services
including the Avvo JD App and Avvo Ignite, a
cloud-based marketing platform designed specifically for
attorneys. Avvo, Avvo Advisor, Avvo JD App, and Avvo
Ignite are trademarks or registered trademarks of Avvo, Inc. Avvo
was founded in 2006 and is based in Seattle, WA.
About Technology Crossover Ventures
Technology
Crossover Ventures (TCV), founded in 1995, is a leading provider of
capital to growth-stage private and public companies in the
technology industry. With nearly $10
billion in capital raised, TCV has invested in more than 200
technology companies over the last 20 years. Selected investments
include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango,
FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix,
RealNetworks, Redback Networks, Rent the Runway, RiskMetrics Group,
Sitecore, Splunk, Spotify, Thinkorswim, VICE Media, and Zillow. TCV
is headquartered in Palo Alto,
California, with offices in New
York and London. For more
information about TCV, including a complete list of TCV
investments, please visit www.tcv.com.
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SOURCE Avvo, Inc.