Avvo, a Web-based legal marketplace, Q&A forum and directory, has closed a $37.5 million Series D financing round led by Coatue Management, with additional investment from Benchmark Capital, Ignition Partners and DAG Ventures. The company's Q&A forum provides consumers with free legal advice 24/7 from more than 160,000 participating lawyers, and its directory provides comprehensive profiles, client reviews, peer endorsements and a lawyer rating system.
Avvo has now raised over $60 million in funding to date. It last raised a $10 million Series C financing round at a $115 million valuation in 2010. The company will use the new funding to accelerate product development and marketing, as well as fuel international expansion.