UpCounsel

Leading legal services marketplace cutting the fat out of the old law firm model

Analytics

Raised to Date: Raised: $0

Aggregate Commitments $
Platform

Wefunder

Start Date

07/06/2021

Close Date

04/30/2022

Min. Goal

$50,000

Max. Goal

$5,000,000

Min. Investment

$250

Security Type

SAFE

Funding Type

RegCF

Series

Series B

Valuation Cap

$28,000,000

Discount Rate

0%

Rolling Commitments $
Status

Active

Reporting Date

07/28/2021

Days Remaining

276

% of Min. Goal

0%

% of Max. Goal

0%

Likelihood of Max
unlikely
Avg. Daily Raise

$0

Momentum
cold
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Location

Yerington, Nevada

Industry

Business Services, Software, & Applications

Tech Sector

MarketplaceTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Business Type

High Growth

UpCounsel, with a valuation cap of $28 million, is raising crowdfunding on Wefunder. The company has developed an online marketplace to connect businesses with a network of experienced independent attorneys. The platform makes it affordable and convenient for small businesses to hire attorneys by eliminating overhead and high hourly rates. KJ Erickson founded UpCounsel in June 2021. The current crowdfunding round has a minimum target of $50,000 and a maximum target of $5,000,000, and the funds will be used for sales and marketing, new product development, operations, and attorney success. UpCounsel has a $2.6 million revenue run rate and has saved users $12 million in legal fees in the past year alone.
Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$1,452,643

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-147,151

$0

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$240,333

$0

Accounts Receivable

$472,570

$0

Total Assets

$2,197,922

$0

Short-Term Debt

$769,691

$0

Long-Term Debt

$1,372,000

$0

Total Liabilities

$2,141,691

$0

Financials as of: 07/06/2021
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