Legal Tech Startup Raises $7M in Equity Funding
In photo, from left: CEO Yousef Kassim and Chief Marketing Officer Rommy Kassim of Easy Expunctions.
SAN ANTONIO - November 10, 2021 - (Newswire.com)
E-Legal, Inc., a San Antonio-based legal technology company, completed an initial close of a Series A financing round. A $6.25 million investment is led by Morningside Technology Ventures, joined by Stand Together Ventures Lab and The Legal Tech Fund, with participation from existing investors, including Capital Factory, Graham Weston, Pat Matthews, Springtime Ventures, Cleo Capital, and Rice University Ventures. This will bring total funding for the company to over $10 million.
This strategic financing will support the development and commercialization of the company's proprietary, patented and digital technology platform that provides consumers with the most comprehensive and cost-effective tools for erasing all traces of their criminal record without an attorney. The introduction of these new strategic investors will fuel continued growth for Easy Expunctions through further market expansion and the formation of strategic partnerships.
There are over 70 million American adults with an arrest record today. "With 90% of major employers running background checks and increased digitization of criminal history information, there is more demand than ever from consumers as well as non-profits and second-chance employers who are eager to provide our services to their employees and communities. These employers view the life-changing services at Easy Expunctions as an opportunity to invest in and retain their workforce while reconciling their company's values with actions," said Yousef Kassim, CEO of E-Legal, Inc.
"Goodwill Houston's strategic partnership with Easy Expunctions has helped to further fuel our mission of Changing Lives Through the Power of Work. In 2020, Goodwill Houston named Easy Expunctions our 2020 Community Partner of the Year. As we continue to grow and expand how we collaborate, we look forward to scaling our impact even further in the years to come," said Christina Petrossi, Director of Workforce Operations at Goodwill Industries of Houston.
As part of the deal, Kosta Ligris will join the board of directors on behalf of Morningside Technology Ventures. Kosta Ligris is the CEO of Stavvy and an Entrepreneur in Residence at MIT. "We are excited to add E-Legal, Inc. into our portfolio of promising, high-growth companies. The exceptional team, high-value technology, and opportunity for real social impact made this a compelling investment for us. We especially look forward to the extended applications of their technologies as they continue to disrupt the legal industry," said Mick Sawka, Investment Manager at Morningside.
Stand Together Ventures Lab is an early-stage venture fund that invests in new businesses that challenge the status quo and change society. Managing Partner Sihyun Choi said, "Having a criminal record dramatically reduces a job applicant's chances of hearing back from a potential employer and zaps the economy of tens of billions of dollars each year. Too often, the process to clear one's record is too time-consuming and expensive for the average person. Easy Expunctions has created technology that will change the game for people looking to put their pasts behind them without sacrificing their financial future. We're proud to partner with Easy Expunctions as they disrupt a sector that is ripe for innovation."
The LegalTech Fund is an early-stage fund focused on backing companies that are reimagining the world of law. Managing Director Zach Posner said, "Easy Expunctions developed an innovative technology solution that results in affordable and effective access to justice for the millions of people with a criminal record. Their product is an example of a better mousetrap: an effective alternative to hiring an attorney that is cheaper, faster, and more comprehensive. We are thrilled to be working with the team as they scale their impact through further market expansion and new product offerings."
About E-Legal, Inc. d/b/a Easy Expunctions
Easy Expunctions leverages technology to assure our customers a clear and cost-effective solution to clearing criminal records. We seek to inform and empower people interacting with the criminal justice system, and create a fast-track to justice with guaranteed results. We are a team that cares about our fellow human beings and believes in second chances. To learn more, visit easyexpunctions.com.
EasyExpunctions.com | press@easyexpunctions.com | 512-561-0430
Press Release Service by Newswire.com
Original Source: E-Legal, Inc. d/b/a Easy Expunctions Announces $7 Million Series A Funding Round
