USLaw.com Tries Venture Case

Hoping to increase the availability of reliable legal resources for consumers and small businesses, USLaw.com is in the midst of marketing a mezzanine round of venture financing. Although the exact amount of the upcoming transaction was not available at press time, Neal J.B. Simon, president and chief executive of USLaw.com, did confirm that the company planned to raise more than the $10 million it recently netted from a Series B funding.

UBS Capital Americas led that most recent transaction with a $5 million investment. Additional institutional participants included Chazen Capital Partners and existing investor Grand Central Holdings, which chipped in $3 million. Following the investment Hyunja Laskin, a UBS principal, joined the company’s board of directors.

The issuer will use proceeds from the completed funding to launch its new Law Affiliate Network, a certified group of solo practitioners and small law firms that will provide offline legal services to consumers and small businesses. The program is set to be rolled out in three test cities early this summer.

“When it comes to consumer and small business legal services, there are 312,000 solo practitioners and another 100,000 working at firms that are five and smaller,” Simon said. “We hope to create a Century 21 for the legal market that will help people deal with what is, right now, a very fragmented market.”

Funds collected from the Series C round will be used to further expand the Law Affiliate Network and for working capital. The company plans to complete an initial public offering sometime before the end of the year, Simon said.

USLaw.com currently provides downloadable legal documents and free online legal advice for consumers and small businesses.