NEWS BRIEF: Lehi, Utah-based LegalTech Firm, Hona, Closes a $9.5 Million Round of Series A Funding

NEWS BRIEF:  Lehi, Utah-based LegalTech Firm, Hona, Closes a $9.5 Million Round of Series A Funding
Photo by Tingey Injury Law Firm and downloaded from Unsplash on 17 May 2024.

Lehi, Utah-based Hona has raised $9.5 million in a Series A round of funding that was "... led by Costanoa Ventures with participation from Ludlow Ventures, Soma Capital and Y Combinator."

As noted in its funding news release,

Hona is "... dedicated to revolutionizing client communication (for law firms) by automating updates, data collection and communication processes."

As previously reported by Law Sites, as the previously named Milestones, Hona closed a $2.1 million Seed Round of funding in July 2023 from three investors — Y Combinator, Ludlow Ventures, and Soma Capital (each of which participated in the Series A funding announced yesterday, Monday, 17 June 2024).

[NOTE: Law Sites also reported that Hona/Milestones had raised $500,000 in a Pre-Seed round of funding sometime prior to its July 2023 Seed Round closing.]

At the time of the Law Sites article last July, Hona had reached over $1 million in ARR (Annual Recurring Revenue).

Altogether, Hona has now helped over "... 500 law firms and their 300,000 clients across the country track their cases (since the company's founding)."

In fact, Hona says it facilitated more than 1 million law firm text messages to clients in April 2024 alone, most of which were designed to keep clients up-to-date on their respective cases.

According to Manny Griffiths, Hona CEO and Co-Founder,

"It’s not just clients who feel the impact of poor communication during legal proceedings; law firms do too. Our tools already save legal teams an average of 30 hours per month on redundant updates.”

And the primary reason for Hona's launch in 2021?

Griffiths says it was because of the frustrating experience he and his wife had over a two-year period of poor legal communication when supporting her after a car accident.

Hona's solutions are designed to connect directly with/bolt onto a law firm’s case management software to enable attorney's, and support staff, to plan out and produce automated client updates.

Currently, Hona integrates with

  • Assembly Neos,
  • CASEpeer,
  • Clio,
  • Filevine (Salt Lake City, Utah-based),
  • GrowPath,
  • Lawcus,
  • Litify,
  • MyCase,
  • PracticePartner,
  • Salesforce,
  • Smart Advocate, and
  • Zapier.

So ... congrats Team Hona!

And good luck on a go-forward basis.


PUBLISHER'S NOTE

In case you're not aware of Utah Money Watch, our goal is to publish Utah-focused monetary, financial, and/or business news, context, and analysis on a timely/regular basis, ideally information NOT available through any other source.

[You might think of us at the opposite of Bloomberg, CNBC, and/or The Wall Street Journal, each of which focus on international/national news first and rarely report on local happenings. Conversely, we are passionately focused on uncovering the most important monetary, financial, and/or business news and information that impact the organizations and people of Utah.]

Here again, the intent is to publish news, information, context, and analysis NOT available through any other source.

To that end, this article was originally published and distributed to our Subscribers at approximately 6:30am (MT) on Thursday, 20 June 2024.

However, if you are seeing this report sometime after this date/time and you are interested in seeing similar reports and/or other Utah-focused monetary/financial/business news, context, and analysis write-ups in the future on an instantaneous basis when they are published, you can do so by subscribing, FOR FREE, to Utah Money Watch.

This will take less than 30 seconds and can be done from any page on the Utah Money Watch website.

Simply,

1. Click on a "Subscribe" button on any Utah Money Watch webpage,
2. Enter in your name in the proper field in the popup window that appears on-screen, and
3. Enter your preferred email address in the proper field too.

That's it. And "Yes," it really is that simple.

And ... it IS free.

So we hope to see you join us as a subscriber of Utah Money Watch.

Thanks.

Team Utah Money Watch