TL;DR:
- Proof Technology secures $30.4 million in Series B funding.
- Long Ridge Equity Partners leads the funding round, joined by existing investors.
- The company offers a range of litigation services via an online marketplace.
- Plans include expanding electronic filing capabilities and integrating with legal case management software.
- More than 5,000 law firms and government agencies use Proof’s platform.
- The platform utilizes AI to optimize document delivery processes.
- Proof’s disruptive approach is poised to shape the legal services market.
Main AI News:
In a significant development, Proof Technology, Inc., a prominent player in the service of process and e-filing technology sector, has successfully concluded a Series B funding round, securing a remarkable $30.4 million investment. This latest funding round was spearheaded by Long Ridge Equity Partners, with continued support from existing investors, including Blue Heron Capital and The LegalTech Fund. The infusion of capital is set to fuel Proof’s growth strategy, enhancing its online litigation services marketplace.
Proof’s litigation services marketplace stands out as a pivotal resource for law firms and government agencies, offering a comprehensive suite of services that include document delivery through a nationwide network of process servers, electronic court filing solutions, and remote notarization services. With this fresh capital injection, Proof aims to expedite its revenue growth, augment electronic filing capabilities, strengthen integrations with legal industry case management software, and harness the power of artificial intelligence to drive operational efficiencies for its valued users.
Presently, more than 5,000 law firms and government agencies rely on Proof’s platform to facilitate the delivery or e-filing of nearly 20,000 documents each month. What sets Proof apart is its remarkable track record of achieving higher delivery success rates and shorter time frames compared to industry norms. The company’s extensive network of process servers spans the entire United States, encompassing even US territories.
Eric Voogt, the Founder and CEO of Proof, expressed his enthusiasm about the company’s growth trajectory, stating, “Since our inception, we have been dedicated to simplifying the process of serving and filing legal documents for law firms, corporations, and government agencies across the nation. Our vision is to evolve into an online marketplace where legal professionals can effortlessly access all litigation services requiring human intervention with just a click. We are thrilled to welcome Long Ridge Equity Partners to our esteemed group of investors.“
Proof’s platform employs cutting-edge AI technology to analyze legal documents uploaded by users. This AI-powered system captures vital information, including court location, involved parties, document details, and relevant regulations. This data is then utilized to identify and select the most suitable process server, ensuring the rapid, transparent, and accurate delivery of documents.
Jim Brown, Managing Partner and Founder of Long Ridge Equity Partners, acknowledged Proof’s disruptive role in the legal industry, commenting, “In a sector that inherently demands human involvement, Proof’s platform remains at the forefront, offering unrivaled process serving, e-filing, and other litigation services. We are excited to collaborate with Eric and his team, supporting Proof as it expands its service portfolio, broadens its customer base, and capitalizes on substantial growth opportunities.”
Currently, users can access the Proof marketplace online or seamlessly integrate it with leading legal technology platforms such as Clio, Litify, and MyCase. The company has ambitious plans to introduce additional integrations with various solutions in the near future, further enhancing its offerings to the legal community.
Conclusion:
Proof Technology’s successful Series B funding round and plans for expansion signal a growing demand for streamlined and technologically advanced solutions in the legal services market. The company’s commitment to enhancing efficiency and user experience positions it as a disruptor in the industry, with the potential to reshape how legal professionals access and manage litigation services.
