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Rocket Lawyer™ Raises $18.5 Million to Fund Rapidly Growing Online Legal Service

  • More than 15 million small businesses and consumers have used Rocket Lawyer for their legal needs
  • Over 100% growth in visitors year over year, making Rocket Lawyer the fastest growing online legal service
  • World-class leadership team focused on product and marketing expansion

SAN FRANCISCO, CA (August 11, 2011) — Rocket Lawyer™, the fastest growing online legal service, announced today that it has raised $18.5 Million in expansion capital. The financing, led by August Capital and including Google Ventures and Investor Growth Capital (IGC), will be used to continue building Rocket Lawyer’s brand and patent-pending online legal solutions.

“We are gratified that millions of people and thousands of businesses have taken advantage of the free legal documents and affordable access to real attorneys online via Rocket Lawyer” said Charley Moore, Founder and Executive Chairman of Rocket Lawyer.

“Our investors share our vision, and together we’re dedicated to making legal services easy and affordable for everyone” added Dan Nye, Rocket Lawyer President and CEO.

Over 15 million small businesses and consumers have used Rocket Lawyer’s easy, web-based do it yourself tools and legal plans. Each month, more than 20,000 Last Wills and 40,000 Business Contracts are created using the site’s step by step interview process. Rocket Lawyer helps users create customized legal documents that can be electronically signed online and shared instantly or downloaded for printing. Legal plan members have access to free document reviews from local attorneys, and deeply discounted rates on legal fees for more complicated legal services. Visitors to Rocket Lawyer have grown over 100 percent, year over year, making Rocket Lawyer the fastest growing online legal service.

"Rocket Lawyer is the fastest growing online legal service for a reason,” said David Hornik, General Partner of August Capital and the newest member of the Rocket Lawyer board of directors. “As a former attorney and venture capitalist, the value proposition for small business owners and individuals is truly outstanding and very disruptive, as Rocket Lawyer drives down costs to benefit both the consumer and the local attorney.”

Google Ventures is also participating in this latest funding round.

“We see a large market opportunity for legal solutions that are easily accessible and affordable to users,” said Wesley Chan, Partner at Google Ventures. “Rocket Lawyer’s combination of an intuitive user-driven front-end with a strong technology-based platform uniquely positions the company to scale and deliver the type of ‘wow’ user experience that online customers love.”

In addition to the funding announcement, Rocket Lawyer also welcomes Alisa Weiner as Vice President of Marketing. Alisa brings 20 years of experience in brand strategy, customer acquisition/retention and product marketing for start ups and established global brands. Alisa previously served as a VP and executive at Zvents, Shopping.com (an eBay company), and Hotwire. Alisa joins a world class Rocket Lawyer leadership team that includes experienced executives from Intuit, LinkedIn, eBay, StubHub, Verizon, Oracle and Esurance.

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About Rocket Lawyer

Rocket Lawyer™ was founded in August of 2008 to make legal services easy and affordable for everyone. With Rocket Lawyer, users can easily create customized legal documents that can be downloaded and shared instantly. Legal plan members have access to free document reviews from local attorneys and receive deeply discounted rates on legal services for more complicated legal needs. Lawyers can access easy online marketing tools and targeted client referrals.

About Alisa Weiner
Alisa Weiner, Vice President of Marketing, brings 20 years of experience in strategic marketing and management to the Rocket Lawyer team. A talented and experienced executive who makes decisions with the right mix of analytical skills and creative intuition, Alisa has led brand strategy, customer acquisition/retention and product marketing for start ups and established global brands.

Prior to joining Rocket Lawyer, Alisa was Sr. Vice President Marketing & Business Operations for Zvents, the leading platform for the discovery and promotion of local entertainment. Prior to Zvents, Alisa was Vice President and GM at Shopping.com (an eBay company) overseeing Shopping.com, DealTime and Epinions in the US. As a Vice President and founding employee at Hotwire she helped launch and grow a category leader that was acquired by IAC/Expedia in 2003.

About David Hornik
In 2000, David joined August Capital to invest broadly in information technology companies, with a focus on enterprise application and infrastructure software, as well as consumer facing software and services. Prior to joining August Capital, David was an intellectual property and corporate attorney at Venture Law Group and Perkins Coie. Prior to that, David was a litigator in New York City at Cravath, Swaine & Moore. David teaches at both Harvard and Stanford Law School.

About August Capital
August Capital was founded in 1995 to invest in companies differentiated by technical innovation and entrepreneurial excellence. To date, the August Capital funds total $2.0 billion. August Capital's partners have more than a century of combined venture experience and together have invested in more than 80 companies across the technology spectrum. These companies represent an aggregate market capitalization of well over $250 billion and generate in excess of $75 billion in annual revenue. The partners at August Capital were the earliest investors in a number of ground breaking technology companies including Microsoft, Intuit, Seagate, Silicon Image, Sun Microsystems, Skype, Compaq, Symantec, Sybase, Atheros, Postini, Cobalt, shopping.com, PayCycle, Grand Junction and many more. August Capital is located in Menlo Park, California. For more information, please visit:
www.augustcap.com
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About Google Ventures
Google Ventures is the venture capital arm of Google Inc. We seek to discover and help develop great companies, and believe in the power of entrepreneurs to do amazing things. Our investments range from seed to late stage, across a broad range of industries, including consumer Internet, digital media, software, hardware, and biotechnology. We embrace the challenge of helping young companies grow from the proverbial garage to global relevance. For more information, visit
www.googleventures.com
.

About Investor Growth Capital
Investor Growth Capital (IGC) (www.investorgrowthcapital.com) is the wholly-owned venture capital arm of Investor AB, a publicly traded investment company. IGC was formed in the mid-1990s to invest in high quality, growth oriented companies, primarily in the IT and Healthcare industries. Today its team of investment professionals are developing a portfolio whose value exceeds $1 billion from offices located in the US and Asia. Investor AB is a leading shareholder in a number of European multinational corporations, including Astra Zeneca, Ericsson, Atlas Copco and SEB. For almost a century Investor AB's business philosophy has been to build best-in-class companies in sectors where the group has strong knowledge and a networking advantage. IGC shares that approach and benefits from Investor AB's extensive global network of companies and senior managers.

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Media Contacts:

Sasha Volkov
svolkov ( at ) rocketlawyer.com
415.787.4843

Kathleen Gratehouse
rocketlawyer ( at ) bordersgratehouse.com
415.963.4174 ext. 2