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Lawyer-rating Site Avvo Raises $10 Million Financing

By Robert J. Ambrogi

Lawyer rating and directory site <a href="http://www.avvo.com/">Avvo</a> has received $10 million in a new round of financing, led by Silicon Valley venture capital firm DAG Ventures. Current Avvo investors, <a href="http://www.benchmark.com/">Benchmark Capital</a> and <a href="http://www.ignitionpartners.com/">Ignition Partners</a>, also invested in this round. The funds will enable Avvo to further expand and enhance its products and services for consumers and lawyers.<br /><br />Launched three years ago, Avvo has grown to become one of the largest lawyer directories on the Web and one of the most highly trafficked -- with some 2 million unique visitors a month. Its goal is to provide profiles and reviews of every lawyer in the United States. So far, it covers 41 states and the District of Columbia. <br /><br />This latest investment brings the company's total financing to $23 million. Founder and CEO <a href="http://www.avvo.com/about_avvo/boards_and_bios">Mark Britton</a> said the investment will be used to further expand and enhance Avvo's products and services for consumers and lawyers. "We remain supremely focused on building that win-win for consumers and lawyers." <br /><br />The company's growth so far has been "planned and rational," Britton said, and its future development will continue along that course. "We have a number of initiatives that I feel are game changing. But to fund those initiatives is expensive." He declined to provide further information about the initiatives. <br /><br />"We will continue to build out these win-win situations for consumers on the one hand and lawyers on the other," Britton said. <br /><br />Britton credited the company's growth to its employees. "I am proud of the team. We've built something that works, and that works well, and we built it from scratch." Avvo currently has 35 employees and plans to add more.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/3958829-6673681236262575910?l=www.legaline.com%2Flawsites.html' alt='' /></div>

Full post as published by Lawsites on March 18, 2010 (boomark / email).