Since Avvo introduced the Avvo Rating in 2006, the lawyer quality metric has become a legal industry standard, rating more than 97% of attorneys in the United States. Not long ago, Bing incorporated the Avvo Rating into its ‘Snapshot’ feature, which provides relevant information for selected lawyer searches on Bing. Avvo has also emerged as a top destination for legal advice, providing anyone with a legal question the largest legal Q&A forum online with more than 5 million questions and answers in its knowledge-base. Want an answer to your legal question from a qualified attorney? Avvo boasts a 99% answer rate. More than 160,000 lawyers from around the country now participate on Avvo.
What’s next for Avvo? On “Tax Day,” April 15th, the company announced it closed $37.5 million in financing led by Coatue Management, with additional investment from Benchmark Capital, Ignition Partners and DAG Ventures. The company intends to use the new funding to accelerate product development and marketing, and fuel international expansion. The latest investment round brings the total capital raised since Avvo’s inception to $60.5 million.
“We are excited to partner with Avvo because it is consistent with our strategy of backing innovative leaders,” said Thomas Laffont, a Senior Managing Director, who oversees the private investments at Coatue Management, L.L.C. “Avvo’s skilled team has built a large user base, supported by a powerful platform, which uniquely positions the company to continue its creative approach to transforming the legal landscape.”
Put simply, this additional capital allows us to accelerate. No matter what we have accomplished to date, we need to help more consumers make better legal decisions and find the right lawyer. We need to build more products that make navigating the legal profession as simple as it should be,” said Mark Britton, founder and CEO, Avvo, Inc. “Through transparency and ease of use, Avvo has already changed how people find and choose attorneys. It is gratifying to have such high caliber investors share in our vision for transforming legal services.” [24×7]
