Casetext, a Y Combinator-backed
legal tech startup that is both a community site for attorneys to share
knowledge and a service that gives users free access to legal texts
annotated by attorneys, today announced that it has raised a $7 million
Series A round led by Union Square Ventures. Other participants in this
round include Formation 8 and former Thomson Reuters CEO Tom Glocer, as
well as existing investors. This round brings Casetext’s total funding to $8.8 million.
As Casetext CEO Jake Heller told me, the company was able to grow
quickly on the back of its seed funding, and the site now has over
250,000 visitors every month. The site currently features over 100,000
posts from about 35,000 users. “We decided to raise now to build on our
initial successes,” he told me. “We need to expand our team to tackle
some of our most ambitious technological goals, and we’ll increase the
coverage of our legal library so that more attorneys can rely on
Casetext as their primary source of legal information.”
He also noted that USV was a natural choice to lead the investment
because of its investment history, but also because two of its five
partners are lawyers, including John Buttrick, who will join Casetext’s board.
0 comments:
Post a Comment