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	<title>Betabeat &#187; Good News for NYC&#8217;s Legal Startups: DIY Advice Site Rocket Lawyer Picks Up ANOTHER $10.8 M. </title>
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		<title>Betabeat &#187; Good News for NYC&#8217;s Legal Startups: DIY Advice Site Rocket Lawyer Picks Up ANOTHER $10.8 M. </title>
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		<title>Good News for NYC&#8217;s Legal Startups: DIY Advice Site Rocket Lawyer Picks Up ANOTHER $10.8 M.</title>

		<comments>http://betabeat.com/2012/01/rocket-lawyer-legal-startup-google-ventures-0105201/#comments</comments>
		<pubDate>Thu, 05 Jan 2012 15:39:48 -0400</pubDate>
					<link>http://betabeat.com/2012/01/rocket-lawyer-legal-startup-google-ventures-0105201/</link>
			<dc:creator>Nitasha Tiku</dc:creator>
				
		<guid isPermaLink="false">http://www.betabeat.com/?p=25949</guid>
		<description><![CDATA[<p><div id="attachment_25951" class="wp-caption alignleft" style="width: 210px"><img class="size-full wp-image-25951" title="50261_20360546904_2017210_n" src="http://nyobetabeat.files.wordpress.com/2012/01/50261_20360546904_2017210_n.jpg" alt="" width="200" height="200" /><p class="wp-caption-text">Kinda like a superhero hero. . . special power: raising $$$!</p></div></p>
<p>A few weeks ago, Betabeat jumped down the rabbit hole of legal starts that were trying to <a href="http://www.betabeat.com/2011/12/15/bye-bye-to-the-billable-hour-rash-of-legal-startups-offer-a-dot-jd/">bid farewell to the billable hour</a> by making it cheaper and easier to get legal advice and legal documents.</p>
<p>At the time, we had a heaping handful of signs that the venture capital market thought the time was ripe for legal disruption. Just last year, Nolo.com was acquired for $21 million, LegalZoom picked up $66 million (and rumors of an IPO), local TechCrunch Disrupt winners Docracy raised $650,000. Google Ventures led a $1 million round in LawPivot <em>and</em> an $18.5 million round in Rocket Lawyer.</p>
<p>But apparently that was just the beginning.<!--more--></p>
<p>Just five months after raising that $18.5 million, VentureBeat uncovered an SEC filing that Rocket Lawyer, which is based in San Francisco has raised another $10.8 million.</p>
<p>According to the company:</p>
<blockquote><p>“This is a combined Series D financing of $18.5M from August Capital,  Google Ventures and Investor Growth Capital plus the $10.7 M investment  from the new investor, Industry Ventures, for a total of $29.2M.”</p></blockquote>
<p>Those additional funds bring Rocket Lawyer's funding to $40 million. The site competes with LegalZoom, which has faced a spate of lawsuits, but has managed to double its visitors between September 2010 and September 2011 and claims to have a customer base of 15 million individuals and several thousands businesses.</p>
<p>In a new niche like legal startups and a profession <a href="http://www.betabeat.com/2011/12/15/bye-bye-to-the-billable-hour-rash-of-legal-startups-offer-a-dot-jd/">so resistant to change</a>, this influx of funds could be goods news for very early stage locals like Docracy, or <a href="http://www.betabeat.com/2011/12/01/general-assemly-demo-night-for-general-assemby-companies-including-general-assembly/">General Assembly-based Paperlex</a>.  If the Groupon clones were any indication, VCs don't seem to have a problem betting on a number of horses in one race.</p>
]]></description>
		<content:encoded><![CDATA[<p><div id="attachment_25951" class="wp-caption alignleft" style="width: 210px"><img class="size-full wp-image-25951" title="50261_20360546904_2017210_n" src="http://nyobetabeat.files.wordpress.com/2012/01/50261_20360546904_2017210_n.jpg" alt="" width="200" height="200" /><p class="wp-caption-text">Kinda like a superhero hero. . . special power: raising $$$!</p></div></p>
<p>A few weeks ago, Betabeat jumped down the rabbit hole of legal starts that were trying to <a href="http://www.betabeat.com/2011/12/15/bye-bye-to-the-billable-hour-rash-of-legal-startups-offer-a-dot-jd/">bid farewell to the billable hour</a> by making it cheaper and easier to get legal advice and legal documents.</p>
<p>At the time, we had a heaping handful of signs that the venture capital market thought the time was ripe for legal disruption. Just last year, Nolo.com was acquired for $21 million, LegalZoom picked up $66 million (and rumors of an IPO), local TechCrunch Disrupt winners Docracy raised $650,000. Google Ventures led a $1 million round in LawPivot <em>and</em> an $18.5 million round in Rocket Lawyer.</p>
<p>But apparently that was just the beginning.<!--more--></p>
<p>Just five months after raising that $18.5 million, VentureBeat uncovered an SEC filing that Rocket Lawyer, which is based in San Francisco has raised another $10.8 million.</p>
<p>According to the company:</p>
<blockquote><p>“This is a combined Series D financing of $18.5M from August Capital,  Google Ventures and Investor Growth Capital plus the $10.7 M investment  from the new investor, Industry Ventures, for a total of $29.2M.”</p></blockquote>
<p>Those additional funds bring Rocket Lawyer's funding to $40 million. The site competes with LegalZoom, which has faced a spate of lawsuits, but has managed to double its visitors between September 2010 and September 2011 and claims to have a customer base of 15 million individuals and several thousands businesses.</p>
<p>In a new niche like legal startups and a profession <a href="http://www.betabeat.com/2011/12/15/bye-bye-to-the-billable-hour-rash-of-legal-startups-offer-a-dot-jd/">so resistant to change</a>, this influx of funds could be goods news for very early stage locals like Docracy, or <a href="http://www.betabeat.com/2011/12/01/general-assemly-demo-night-for-general-assemby-companies-including-general-assembly/">General Assembly-based Paperlex</a>.  If the Groupon clones were any indication, VCs don't seem to have a problem betting on a number of horses in one race.</p>
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