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Avvo Closes $71.5 million Series E Round Led by Technology Crossover VenturesSEATTLE, 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 onth – 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. About Technology Crossover Ventures Logo - http://photos.prnewswire.com/prnh/20130404/SF88839LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/avvo-closes-715-million-series-e-round-led-by-technology-crossover-ventures-300119536.html SOURCE Avvo, Inc. |