Leena Rao is currently working as a writer for TechCrunch. She recently finished graduate school of the Medill School of journalism at Northwestern University, where she studied business journalism and videography. From 2004 to 2007 she helped lead efforts for advocacy and community relationships Congressman Carloyn Maloney in New York. She graduated from Columbia University in 2003 where it was ... ? Read More
More big money online legal services. After LegalZoom raised $ 66 million from Kleiner Perkins and IVP, competitor rocket lawyer also announced a new round of funding. Start generated 18.5 million in funding led by August capital, Google Ventures and Investor Growth Capital (IGC) participated in the round. This brings total funding to rocket lawyer $ 30 million.
Founded by Charles Moore, the rocket lawyer not only provides legal documents for consumers and small businesses, but also helps users create customized legal documents that can be electronically signed and shares instantly online or downloaded for printing. Moore says that every month, more than 20000 the last wills and 40000 business contracts created. Rocket lawyer offers these documents free of charge.
While users can use rocket lawyer on a one-time basis, many of the users of the site pay for actual legal advice along with access to documents. Users can pay just $ 20 per consultation up to $ 200 to $ 300 per year for the legal service of the call, which is a fraction of the cost that some lawyers (the company currently has thousands of people who pay for annual maintenance).
Moore said that 20 million people will use rocket lawyer by the end of this year. Rocket lawyer and the visitors increased by more than 100%, year over year. The company grows revenue by 10 million dollars annually, but refused to say if the lawyer launch profitable yet.
Taking into account the traction that other players like LegalZoom is seen, it looks like the industry online legal services to the fast-growing market that still has great potential. LegalZoom and looks to IPO next year.
The new funds will be used to continue building the rocket lawyer brand and patent online legal solutions.
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