Proof Technology Closes $30.4 Million Series B to Expand and Evolve Online Litigation Services Marketplace
Legal technology company adds Long Ridge to investor group as it aims to scale and expand its platform for legal document serving, e-filing, and other litigation services
DENVER, Jan. 26, 2024 /PRNewswire-PRWeb/ -- Proof Technology, Inc., the service of process and e-filing technology platform company, today announced the closing of a $30.4 million Series B funding round led by Long Ridge Equity Partners with participation from existing investors including Blue Heron Capital and The LegalTech Fund. Proof's litigation services marketplace provides law firms and government agencies with document delivery through a nationwide network of process servers, electronic court filing services, and remote notarization. The company intends to leverage the new capital to accelerate revenue growth, expand electronic filing capabilities, enhance integrations with legal industry case management software, and more deeply embrace AI to create additional efficiencies for its users.
More than 5,000 law firms and government agencies currently use Proof's platform to deliver or e-file close to 20,000 documents each month. Documents processed and served through the Proof platform are executed with higher delivery success rates and within shorter time frames, as compared to industry averages. Proof's expansive network of process servers are located across the entire country, including within U.S. territories.
"We're pursuing our vision of becoming the online marketplace where, at the touch of a button, lawyers can obtain all litigation services that require human intervention." - Eric Voogt, Proof Founder and CEO.
"Since our founding, we've been helping law firms, corporations, and government agencies more easily serve and file summons, subpoenas, complaints, and other legal documents anywhere in the country, dramatically reducing the time and hassle involved in serving and filing legal documents," said Eric Voogt, Proof's Founder and CEO. "As we pursue our vision of becoming the online marketplace where, at the touch of a button, lawyers can obtain all litigation services that require human intervention, we are thrilled to have Long Ridge join our existing investor group."
Legal documents uploaded to the platform by Proof users are analyzed by the company's proprietary AI-powered technology to capture all necessary information including court location, parties involved, documents to deliver, and applicable rules, all of which are used to identify and locate the best-positioned process server to deliver those documents with speed, transparency, and accuracy.
"In a segment of the legal industry that will always require the involvement of human beings, Proof's platform continues to be a disrupter and leading choice for process serving, e-filing, and other litigation services," said Jim Brown, Long Ridge Managing Partner and Founder. "We look forward to working with Eric and the team and supporting the company as it continues to evolve service offerings, expand its customer base, and capitalize on its tremendous growth opportunities."
Today, users can access the Proof marketplace online or via integrations with several popular legal technology platforms including Clio, Litify, and MyCase. The company plans to introduce new integrations with additional solutions in the near future.
About Proof Technology, Inc.
Proof Technology through the Proof™ marketplace delivers to the legal industry the only single platform that directly connects law firms, attorneys general and pro se parties with process servers for the physical delivery and e-filing of legal documents. The core platform Proof™ combines machine learning that "reads" court documents and automatically extracts case caption information, geolocation of the closest process server to the defendant's or witness's address, remote printing through an integration with FedEx offices, and real-time, court-specific affidavits that combine case caption information with attempt data captured in the field automatically (geolocations and time/date stamps) and the efforts of the process server (photographs and a description of the attempt). Proof Technology's easy-to-use platform gives legal practitioners a fast, accurate and fully transparent experience that provides real-time updates and jurisdiction-specific documentation of the serve. For more information, visit Proof.
About Long Ridge Equity Partners
Founded in 2007, Long Ridge Equity Partners is a private investment firm focused on the financial and business technology sectors. Leveraging deep sector knowledge and an extensive network of industry resources, Long Ridge serves as a value-added partner to high-growth businesses. Since its founding, Long Ridge has sponsored some of the most successful growth companies in the financial and business technology sectors, providing leading management teams with partnership, strategic resources, and capital to drive profitable expansion. Long Ridge manages over $1.75 billion of committed capital. For more information on Long Ridge Equity Partners, please visit www.long-ridge.com.
Media Contact
Greg Kalish, GKC for Proof Technology, 1 5166653292, gkalish@gkcomms.com, https://www.proofserve.com/
SOURCE Proof Technology
