Rocket Lawyer, a legal service provider, has secured $223 million in funding. Vista Credit Partners was the lead investor.
SAN FRANCISCO, April 21, 2021 (GLOBE NEWSWIRE) — Rocket Lawyer, the affordable and complete legal service, today announced a major growth capital financing of $223 million, led by Vista Credit Partners (“VCP”), a strategic credit investor and financing partner focused on the enterprise software, data, and technology markets. Rocket Lawyer and Vista will collaborate to scale the Rocket Legal Cloud™ platform to meet the strong and accelerating demand for the company’s natively digital tools of justice.
Founded in 2008, based on patented technology, Rocket Lawyer provides enterprises, small and medium-sized businesses, and millions of individuals and families with digital legal documents, RocketSign® digital signatures, attorney advice from anywhere, online incorporations and more, at a fraction of the traditional cost. Recognizing the severe dysfunction of the legacy legal process, Rocket Lawyer innovates, invents and delivers modern, scalable cloud-based solutions to democratize access to justice.
“Nearly every day, examples of injustice make headlines. And for every headline-grabbing incident, there are countless others,” said Charley Moore, CEO and founder of Rocket Lawyer. “Vista Credit Partners shares our commitment to bring justice within reach of everyone with a connected device. For most people and organizations, ‘justice’ means being able to create written contracts, negotiated and executed in a fair and transparent process. ‘Justice’ means being empowered to stand up for oneself with knowledgeable, reliable and efficient counsel. ‘Justice’ means being able to successfully navigate the complex landscape of government regulations via simple interfaces.”
“We are thrilled to be partnering with Charley Moore and the impressive Rocket Lawyer team, who have pioneered an important technology at a time when millions of people need affordable legal services,” said David Flannery, President of Vista Credit Partners. “The pandemic has hastened the transition of legacy systems to a more accessible digital future, especially in the legal sphere. We believe this climate gives Rocket Lawyer an incredible growth opportunity, and we look forward to supporting their mission to democratize access to legal services.”
“The pandemic amplified and accelerated demand for our cloud-based digital legal solutions, as we enabled millions of legal situations to be documented, and attorney advice and compliance to happen, without the need for physical presence,” continued Moore. “The world isn’t going to go backward once the pandemic ends, and we are fortunate to have built the Rocket Legal Cloud platform to serve the new normal of always on, 100% digital demand. Vista shares our commitment to delivering innovative and market-leading technologies that make the law more accessible than ever. We look forward to engaging actively in their vast ecosystem, leveraging their operational expertise to put affordable legal services within reach for all.”
Rocket Lawyer makes legal transactions more transparent, efficient, and secure for businesses, families, and individuals around the world. With operations in North America, the United Kingdom and the European Union, Rocket Lawyer has provided over 25 million people and organizations with access to digital legal documents, attorney advice, and business legal services, such as incorporations, at a price that more people can afford.
Rocket Lawyer was represented by Goodwin Procter LLP and Manatt, Phelps & Phillips, LLP, as legal counsel on the financing. VCP was represented by Akin Gump Strauss Hauer & Feld LLP.
About Rocket Lawyer:
At Rocket Lawyer, we believe everyone deserves affordable and simple legal services. Our laws should protect and empower—but for too many of us, the law is out of reach, because of high costs and complexity. So, we’re changing things. Since 2008, we’ve helped over 25 million people and organizations obtain the legal help they need, at a price they can afford. That’s legal made simple.® Visit www.rocketlawyer.com for a free trial and follow us on Facebook, Twitter and LinkedIn.
About Vista Credit Partners:
Vista Credit Partners (VCP) is the credit-investing arm of Vista Equity Partners and is a strategic investor and financing partner focused on the growing enterprise software, data, and technology market. VCP employs a highly disciplined approach to credit investing while maintaining flexibility to pursue investments offering the best relative value, sourcing opportunities in both the middle market and broadly syndicated market and investing across the capital structure. The VCP senior leadership and investment teams consist of experienced credit professionals who have spent their careers sourcing, underwriting, executing, and managing credit portfolios for market-leading institutions. Since formation in 2013 and as of December 31, 2020, VCP has deployed over $6 billion and grown to over $4.5 billion of assets under management. For more information, please visit www.vistacreditpartners.com.