LegalZoom Adds New Shareholders to Continue Impressive Growth
Institutional Venture Partners and Kleiner Perkins Caufield & Byers Join Polaris Venture Partners
Los Angeles, CA – April 28, 2011 – LegalZoom.com, Inc. welcomes two new shareholders to help continue its impressive growth. Original investor Polaris Venture Partners will now be joined by Institutional Venture Partners (IVP) and Kleiner Perkins Caufield & Byers (KPCB). Since Polaris first invested in LegalZoom in March 2007, the company has grown to more than 500 employees and served more than 1 million customers.
IVP is one of the premier later-stage venture capital and growth equity firms in the United States, leading investments in industry leaders such as Twitter, HomeAway and Netflix. Since its founding in 1972, KPCB has backed entrepreneurs in over 600 ventures including Amazon, Google and Intuit.
“Polaris recognized early on the potential for LegalZoom to give every American access to affordable legal protection. IVP and KPCB are welcome additional partners with an enviable track record of backing world-class companies trusted by millions,” said John Suh, CEO of LegalZoom.
The Polaris Venture Partners team of Alan Spoon and Jason Trevisan has worked closely with LegalZoom as board members since 2007, helping the company evolve its model to make deepening customer relationships its highest priority.
“Our strategy is to back bold and innovative businesses that will become market leaders, and LegalZoom exemplifies this investment philosophy,” said Jason Trevisan, Principal with Polaris Venture Partners. “We’re pleased to welcome IVP and KPCB as new shareholders because we’re confident that their counsel and support will enhance the company’s leadership in the large and growing market for smart, reasonably priced online legal document services.”
LegalZoom.com is the nation’s leading provider of legal documents that help people protect their families and launch their business dreams. Since its founding in 2001, more than 1 million customers have used the service to make a will or living trust, form a corporation or LLC, and apply for a copyright or trademark. LegalZoom is not a law firm and does not provide legal advice. Headquartered in Glendale, California, with offices in Austin, Texas, the company has over 500 employees. For more information, visit https://www.legalzoom.com.
About Polaris Venture Partners
Polaris Venture Partners is a partnership of experienced investors, operating executives and entrepreneurs. The firm’s mission is to identify, invest in and partner with seed, early stage, and middle-market businesses with exceptional promise and help them grow into market-leading companies. Polaris invests in businesses across a number of markets including technology, digital media, consumer, enertech and life sciences. Polaris-backed successes in life sciences include: Adimab, Adnexus (sold to Bristol-Myers Squibb), Advanced Inhalation Research (sold to Alkermes), Alimera, Alnylam Pharmaceuticals, Asthmatx (sold to Boston Scientific) Glycofi (sold to Merck), Momenta Pharmaceuticals and Ironwood. Polaris-backed successes in technology and consumer include: Akamai Technologies, Allaire, Art.com, Athlete’s Performance, Automattic (WordPress), e-Rewards, Internet Brands, LogMeIn, LegalZoom, LivingProof, MarkMonitor, Powersoft, Solidworks, TechTarget and Quantcast. For more on the firm, its mission and its portfolio companies: https://www.polarisventures.com.
About Institutional Venture Partners (IVP)
With $3 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. The partnership is currently investing IVP XIII, a $750 million later-stage fund focused on investments in rapidly growing media and technology companies. Founded in 1980, IVP has invested in over 300 companies, 86 of which have gone public. IVP has a 30 year IRR of 43.2% and is one of the top performing firms in the industry. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions and select public market investments. Since its inception, IVP investments include such notable companies as ArcSight, Aspect Communications, At Road, Business.com, Clarify, ComScore, Concur Technologies, Danger, Digital River, Foundry Networks, HomeAway, Juniper Networks, Kayak, LivingSocial, LSI Corporation, Mobile 365, MySQL, Netflix, Polycom, Quigo, Seagate, Synchronoss, Tivo, Twitter, Websense and Zynga. For more information, visit https://www.ivp.com or follow IVP on Twitter: https://twitter.com/ivp.