LegalZoom, the platform for high quality legal solutions, continues its leadership pace through its introduction of new services to small businesses and families, while also expanding into new territories that replicates their successful entry into the U.K a few years ago.
The company just announced the completion of a $500 million secondary investment fund to support their expansion initiatives. The fund is led by Francisco Partners and GPI Capital, with participation from Franklin Templeton Investment funds, and funds managed by Neuberger Berman Investment Advisers.
LegalZoom’s market leadership is well reflected through its brand awareness that is over 10 times greater than online and offline competitors, according to a recent press statement.
GPI Capital partner Khai Ha said they were, “…excited to invest at another inflection point as the team extends the platform with an innovative product roadmap, drives further penetration of a large addressable market and continues to deliver first quartile metrics.”
The exact terms of the transaction were not disclosed, but existing investors will retain their meaningful stakes in the company once the transaction is completed. Global Equity firm Permira remains the largest shareholder, Kleiner Perkins and Institutional Venture Partners retain the majority of their ownership stakes, and Bryant Stibel retains its entire ownership stake. The transaction is expected to close in Q3 2018.
