Proof Technology, Inc., a leading platform in legal technology, has announced a significant milestone with the closing of a $30.4 million Series B funding round. This investment, spearheaded by Long Ridge Equity Partners, with participation from existing investors Blue Heron Capital and The LegalTech Fund, underscores the increasing Proof Serve Valuation and the company’s robust growth trajectory in the legal services sector. Proof’s innovative marketplace connects law firms and government agencies with a nationwide network for process serving, electronic court filing, and remote notarization, streamlining critical litigation processes.
This substantial capital infusion will fuel Proof’s ambitious plans for revenue acceleration and platform expansion. A key focus will be on enhancing their electronic filing capabilities, ensuring seamless integration with leading legal industry case management software, and further leveraging the power of Artificial Intelligence (AI) to create greater efficiencies for their expanding user base. Currently, over 5,000 law firms and government agencies utilize Proof’s platform, processing nearly 20,000 documents monthly. The platform is recognized for achieving superior document delivery success rates and faster turnaround times compared to traditional industry standards, a testament to its effective operational model and growing proof serve valuation.
Eric Voogt, Founder and CEO of Proof, emphasized the company’s vision: “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.” He further explained, “Since our founding, we’ve been dedicated to simplifying the complex processes of serving and filing legal documents across the country. This partnership with Long Ridge is a significant step towards realizing our vision and further enhancing the proof serve valuation in the market.”
Proof’s platform employs proprietary AI technology to analyze uploaded legal documents, automatically extracting crucial information such as court location, involved parties, document types, and relevant legal rules. This intelligent system then identifies and assigns the most suitable process server from their extensive network to ensure swift, transparent, and accurate document delivery. This technological advantage is a key driver in the company’s efficiency and contributes significantly to the positive proof serve valuation.
Jim Brown, Managing Partner and Founder at Long Ridge, commented on their investment: “In a sector of the legal industry that necessitates human involvement, Proof’s platform stands out as a disruptor and a premier solution for process serving, e-filing, and related litigation services. We are excited to support Eric and his team as they continue to innovate their service offerings, broaden their customer base, and capitalize on the substantial opportunities for growth, further solidifying the proof serve valuation.”
Proof’s marketplace is currently accessible online and through integrations with popular legal technology platforms like Clio, Litify, and MyCase, with plans for further integrations in the pipeline.
About Proof Technology, Inc.
Proof Technology, through its Proof™ marketplace, offers the legal industry a unique, unified platform connecting law firms, attorneys general, and pro se parties directly with process servers for both physical delivery and e-filing of legal documents. The core Proof™ platform integrates machine learning to intelligently “read” court documents and automatically extract essential case information. It also utilizes geolocation to identify the closest process server, integrates with FedEx offices for remote printing, and provides real-time, court-specific affidavits that automatically combine case details with field-captured attempt data, including geolocations, time/date stamps, photographs, and server descriptions. Proof Technology’s user-friendly platform delivers speed, accuracy, and complete transparency, providing real-time updates and jurisdiction-specific documentation for every serve, enhancing overall proof serve valuation through efficient service delivery. For more information, visit Proof.
About Long Ridge Equity Partners
Established in 2007, Long Ridge Equity Partners is a private investment firm focused on the financial and business technology sectors. Leveraging deep industry expertise and a broad network, Long Ridge partners with high-growth businesses to drive profitable expansion. With over $1.75 billion of committed capital under management, Long Ridge has a track record of supporting successful growth companies in the financial and business technology industries, providing strategic resources and capital to leading management teams, further recognizing and potentially increasing proof serve valuation in their portfolio companies. For more details on Long Ridge Equity Partners, please visit www.long-ridge.com.
Media Contact
Greg Kalish, GKC for Proof Technology, 1 5166653292, [email protected], https://www.proofserve.com/
SOURCE Proof Technology
