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Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

March 18, 2010 at 8:00 AM

Avvo raises $10 million to grow legal referral biz

Seattle lawyer rating and referral startup Avvo raised another $10 million to boost its growth.

The 35-person venture is verging on profitability with strong ad sales lately. But it opted to take the funding to grow more aggressively, Chief Executive Mark Britton said.

“To actually have revenue is something I think investors appreciate in this financing environment,” he said.

DAG Ventures of Palo Alto, Calif., led the funding, with earlier Avvo backers Ignition Partners and Benchmark Capital contributing. Altogether the company has raised $23 million since it was conceived in 2006.

Britton said Avvo will use the proceeds for hiring and to expand its service. It lists ratings for 90 percent of U.S. lawyers and 50,000 of them actively participate in the site, including one out of three in Washington, he said.

“Ultimately we feel that there’s such an opportunity in legal that now was the time to be more aggressive,” he said.

Comments | More in | Topics: Avvo, Startups, startups

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