LegalZoom Acquires Document Automation and Forms Template Company, Revv

Rhea-AI Summary

LegalZoom (Nasdaq: LZ) has acquired Revv, a Bengaluru-based document automation company, to enhance its product and engineering capabilities. This acquisition allows LegalZoom to leverage Revv's proprietary technology in developing productivity tools tailored for small businesses. The Revv team of 30 will integrate into LegalZoom, focusing on improving legal templates and modern product experiences. The deal's financial terms remain undisclosed. LegalZoom aims to utilize this acquisition to strengthen its market position and deliver enhanced services as it approaches 2023.

Positive

• Acquisition of Revv enhances LegalZoom's forms library and legal templates.
• Access to Bangalore talent market for engineering and product development.
• Integration of 30 employees expected to accelerate product initiatives.

Negative

• None.

India Based Team to Join LegalZoom’s Product And Engineering Organization, Using Its Proprietary Technology To Develop Modern Productivity Tools And Services For Small Businesses

GLENDALE, Calif., Oct. 17, 2022 (GLOBE NEWSWIRE) -- LegalZoom.com, Inc. (Nasdaq: LZ), the industry leader in online small business formations and a leading online platform for legal, compliance and tax solutions, has acquired Revv, a Global SaaS, Bangalore, India based document automation and forms template company. Revv’s proprietary technology will enhance LegaZoom’s forms library and legal templates offerings and will be used to develop modern product experiences and services for small businesses. “The acquisition of Revv demonstrates our continued focus on scaling critical engineering and product talent to deliver the best products and services for small businesses,” said Dan Wernikoff, CEO of LegalZoom. “The addition of Revv through this transaction also gives us access to the attractive Bangalore talent market, and will ultimately help us deliver on our business priorities as we head into 2023.”

Founded in 2018 by ex-Freshworks executives Rishi Kulkarni and Sameer Goel, Revv is a leading self-service document automation and electronic signature platform. Revv offers legally binding eSignatures coupled with vetted templates, cloud-based workflow automation, native API, Zapier integration, analytics, cloud-based storage, and audit trails. “We are incredibly excited to welcome the Revv team to LegalZoom,” said Shrisha Radhakrishna, Chief Technology Officer and Chief Product Officer at LegalZoom. “The team’s small business expertise, product-led growth competence, and leadership in scalable technology will help us accelerate our ability to execute on key product initiatives, including delivering a robust forms platform that will enhance our overall LegalZoom customer experience.”

“We founded Revv with the vision to take all aspects of running a business and simplify it with software,” said Rishi Kulkarni, CEO and co-founder of Revv. “We immediately connected with LegalZoom’s vision, and we are excited to partner with their engineering and product teams to continue to provide greater access to modern product experiences and services for small businesses,” added Sameer Goel, COO and co-founder of Revv.

The Bangalore based team of approximately 30 employees will all be joining LegalZoom as part of the transaction and be directly integrated into LegalZoom’s product and engineering organization. Terms of the deal were not disclosed. District Capital Partners acted as financial advisor to LegalZoom, and Massumi + Consoli LLP served as legal counsel.

About LegalZoom

LegalZoom is the number one brand in online business formation according to small business owners and is a leading online platform for legal and compliance solutions in the United States. With its mission to democratize law, LegalZoom operates across all 50 states and over 3,000 counties in the United States and has more than 20 years of experience navigating complex regulations and simplifying the legal and compliance process for its customers. Driven by its core value that every business deserves the full protection of the legal system and a simple way to stay compliant with it, LegalZoom helps its customers form and protect their businesses, their ideas and families. In 2020, 10% of all new LLCs and 5% of all new corporations in the United States were formed through LegalZoom, enabling small business owners to apply their energy and passion to their businesses instead of the legal and regulatory complexity required to operate them. In addition to business formations, LegalZoom offers ongoing compliance and tax advice, trademark and copyright filings and estate planning documents to protect small businesses and the families that create them.

To learn more about LegalZoom.com, please visit us at www.legalzoom.com or follow us on LinkedIn, Facebook, Instagram, Twitter or TikTok.

About Revv

Revv is a leading global SaaS platform that enables professionals and companies of all sizes to run their business securely from anywhere, anytime and any device. Backed by Lightspeed India Partners, Matrix Partners India, Arka Venture Labs, and other private investors, Revv boosts the business operations of more than 30,000 customers worldwide with no-code document and form based workflows, streamlined eSigning processes, cross-system integrations and legally vetted templates. Revv features include Data Studio, intuitive approvals, native APIs, Zapier integrations, real-time collaboration, analytics, cloud-based storage and audit trails.

Forward-Looking Statements

This press release contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. Forward-looking statements contained in this press release include, but are not limited to, statements regarding our ability to deliver on our business priorities in 2023 and the acceleration of our ability to execute on key product initiatives.

Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those factors discussed in the section titled “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, as such risk factors may be amended, updated or superseded from time to time by our subsequent filings with the Securities and Exchange Commission. Although we believe that the assumptions underlying these forward-looking statements are reasonable, they are not guarantees and we can give no assurance that our expectations will be attained. The forward-looking statements contained herein speak only as of the date of this press release. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise.

Media Contact

Cortney Kerans, Head of Communications

LegalZoom

ckerans@legalzoom.com 

Investor Relations

ir@legalzoom.com 

FAQ

What is the significance of LegalZoom's acquisition of Revv?

The acquisition enhances LegalZoom's product offerings and engineering capabilities, helping to create modern productivity tools for small businesses.

How will the acquisition of Revv impact LegalZoom's services?

Revv's proprietary technology will improve LegalZoom's forms library and legal templates, enhancing customer experience.

What is the expected future impact of the Revv acquisition on LegalZoom?

The integration aims to accelerate LegalZoom's ability to execute on key product initiatives as they head into 2023.

How many employees will join LegalZoom from Revv after the acquisition?

Approximately 30 employees from Revv will be integrated into LegalZoom's product and engineering organization.

When was the acquisition of Revv by LegalZoom announced?

The acquisition was announced on October 17, 2022.