Avvo Raises $10 Million in Venture Financing
It’s a good day today at Avvo. Why? Well, to start off, we have an amazing team – energetic, smart and committed to innovation. I feel honored just to have a desk among them. Next, we have the best product in the business – a product that has taken us from concept to market leader in just three years. And, finally, today DAG Ventures, Benchmark Capital and Ignition Partners invested $10 million in our business. How neat. You can find the press release here.
We are humbled to have this kind of support from the investment community. However, it also turns up the heat. I remember when Expedia went public, an Amazon friend (who had gone public a couple of years before) said, “Why are you smiling? Now the real work starts.” And, I can’t help but feel that way today. We raised this money in order to continue and expand our success to date. However, to pursue the grand initiatives dancing in our heads while continuing to innovate in our existing products, we are looking at a new round of significant sweat equity.
Thank you to DAG’s John Caddedeu for making this round of financing move as quickly as it did. We don’t have a big team, so for any of us to be focusing on fundraising rather than running our business has its price. John’s reasonable and efficient process allowed us to keep every hand on the wheel.
Go Avvo.
