Do Not Pay Valued At $US210 Million Says Browder

Bloomberg reports…

DoNotPay, a startup that describes itself as a robot lawyer striving to beat bureaucracy, has more than doubled its valuation to about $210 million, according to Chief Executive Officer Joshua Browder.

The firm raised $10 million from Andreessen Horowitz, Lux Capital, Tribe Capital, Day One Ventures and Felicis Ventures, Browder said in an interview. They were joined by investors including billionaire FTX CEO Sam Bankman-Fried, former Coinbase Global Inc. Chief Technology Officer Balaji Srinivasan and UiPath Inc. CEO Daniel Dines. Yuri Milner’s investment firm, DST Global, also participated in the round, people with knowledge of the matter said.

DoNotPay, which has about 250,000 customers and charges an annual subscription fee of $144, intends to use the funding to bolster its customer base to include small businesses. The move was motivated by a class action that DoNotPay defeated earlier this year, Browder said, noting that the startup can ensure companies comply with various regulations, such as displaying appropriate disclaimers on their websites, and protect their intellectual property through trademarks.

“We realized businesses are being shaken down all the time,” he said.