LegalZoom.com, Inc. (www.legalzoom.com), the nation's leading online legal document preparation service, today announced that it has secured financing from Polaris Venture Partners, a national venture capital firm with over $3 billion under management.
LOS ANGELES (BusinessWire EON) March 21, 2007 --
LegalZoom.com, Inc. (www.legalzoom.com),
the nation’s leading online legal document
preparation service, today announced that it has secured financing from
Polaris Venture Partners, a national venture capital firm with over $3
billion under management.
Since 2000, LegalZoom.com has been transforming the $225 billion legal
market, helping small businesses, families and individuals prepare
important legal documents online at a fraction of the cost of an
attorney. To date, more than 400,000 people have used LegalZoom.com to
write wills, incorporate a business, file a trademark and take care of
other common legal matters.
“Families and businesses repeatedly need to
handle essential legal documents such as wills and filings, but it can
be cumbersome and expensive to hire an attorney. LegalZoom.com has built
a strong business by providing broader access to the legal information
and documents that millions of people need,”
said Alan Spoon, managing general partner at Polaris Venture Partners. “We
look forward to collaborating with the team as they continue to expand
their business.”
Spoon, the former president of The Washington Post Company and current
board member of several leading media companies, including
IAC/InterActiveCorp and Getty Images, will join LegalZoom.com’s
Board of Directors along with Jason Trevisan, principal of Polaris
Venture Partners. Kamran Pourzanjani, president and co-founder of the
leading price comparison website, PriceGrabber.com, is also joining
LegalZoom.com’s Board of Directors.
“We took our time to ensure that we found the
right strategic partner and we look forward to partnering with Polaris
as we expand our strategy,” said Brian Liu,
co-founder and chairman of LegalZoom.com. “Our
mission is to provide consumers and small business owners with
innovative and affordable legal solutions. Every family needs a will and
a living will; every small business should either be incorporated or be
an LLC, but not everyone has the time or the money to get it done. With
this investment and partnership with Polaris, LegalZoom.com will be able
to help more people obtain access to the benefits of the law.”
Montgomery & Co. provided advisory services on the transaction.
About LegalZoom.com
LegalZoom.com is the nation’s number one
online self-help legal document service. Co-founded by attorney Robert
Shapiro in 2001, LegalZoom.com (www.legalzoom.com)
lets consumers and small business owners take care of common legal
matters online without needing a costly attorney. Legal documents
available through LegalZoom include: Wills, Living Wills, Incorporation,
LLC Formation, Living Trusts, Powers of Attorney, Divorces, Small
Claims, Trademarks, Copyrights and more. LegalZoom.com is not a law firm
and does not provide legal advice or counsel.
About Polaris Venture Partners
A national venture capital firm with over $3 billion under management,
Polaris identifies and invests in seed, early stage and growth equity
businesses in the technology, life science, digital media, enertech and
consumer sectors.
Through a philosophy of lead investing and active, long-term partnering
with early stage and growing revenue stage businesses, Polaris has
helped a number of companies achieve outstanding success. Among them
are: Accordant Health Services, Acusphere, Advanced Inhalation Research
(AIR), Akamai Technologies, Allaire Corporation, American
Superconductor, Alnylam Pharmaceuticals, Aspect Medical Systems, Avici
Systems, Centra Software, Classifieds2000, Cubist Pharmaceuticals,
deCODE genetics, Exchange.com, GlycoFi, Matrics, Momenta
Pharmaceuticals, Paradigm Genetics, Powersoft, Solidworks and TransForm
Pharmaceuticals. Polaris’ current portfolio
includes market leading Internet businesses such as Art.com, The
HealthCentral Network, Heavy, JibJab Media, TechTarget and Wordpress.
For more information, please see www.polarisventures.com.
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