LOS ANGELES, CA — March 19, 2007 – LegalZoom.com, Inc., 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.”
LegalZoom.com is the nation’s number one online self-help legal document service. Co-founded by attorney Robert Shapiro in 2001, 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, Prenuptial Agreements, 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.