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Legal Equalizer

legalequalizer.com

Stage

Seed | Alive

Total Raised

$120K

Last Raised

$120K | 2 yrs ago

About Legal Equalizer

Legal Equalizer is a platform to share legal information and alerts loved ones in real-time during law enforcement encounters.

Headquarters Location

North Atlanta, Georgia,

United States

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Latest Legal Equalizer News

Black Founders: You Are Still In America; Racism Will Be A Part Of Your Journey

Oct 3, 2022

| Paid Program Written by Mbye Njie, CEO, Legal Equalizer I’ve gone back and forth about writing this article for months now. I was going to write it two months ago, but I decided not to do it. I was recently invited to speak to a group of young entrepreneurs at Morehouse, and I felt like I owed it to these young African American men to tell them the absolute truth about my experience as a founder. I want to make sure that they understood how difficult a journey being a founder who looks like them truly is. There are so many Black founders struggling to gain access to the resources that will help ensure success today, and it will continue to happen because America is going to be America. getty This talk was definitely one of the livelier ones that I have given as the students were extremely engaged from the beginning and had nonstop questions. As I was describing my journey, and what I have built and hope to build, they said that another company had taken the same idea as mine and had representatives on campus trying to get students to use their app. I didn’t want to mention the other company by name, but the teacher thought that it was important that I did and that I told the funding story behind them compared to mine. My story is not new, and it is not a rare story when it comes to who gets access to the resources to become successful. There is a reason that the world knew about Jack Daniel before they knew who Nathan “Nearest” Green was, despite Uncle Nearest being the better master distiller of whiskey who taught Jack Daniel how to make whiskey. There is a reason that Elvis Presley became a wealthy world-famous singer, while the Black singers whose songs he stole such as Otis Blackwell and Ivory Joe Hunter never got anywhere near the amount of money or fame that Elvis got. There are so many Black founders going through this exact same problem today, and it will continue to happen because America is going to be America. We discussed the story of Isaac Hayes III and his fundraising journey with FanBase , the social media company he built in which people can make money off of their content. Isaac had a track record of building successful businesses in a couple different industries. When he decided to get into the tech space, he went out and sought advice from other incredibly successful people in the space. Isaac was able to build a prototype, and actually get users using his platform. He was growing it when he decided to go and pitch it to venture capitalists. VC after VC turned down the opportunity to invest in FanBase because they felt its valuation was too high. Isaac pivoted from trying to raise money from venture capitalists and went on to raise a successful seed round through a crowdfunding campaign in which he set a record for money raised by a Black founder through crowdfunding. Why am I telling you this story? Well a couple of years after Isaac had built FanBase up and had users and people who were making money off of their content, another company that does the exact same thing came out. That company even chose to start its company name with “Fan” as well. That company was able to raise $20 million dollars at a valuation way, way higher than what Isaac was asking for when he went to them asking for more money. How does all this tie back to my talk with the Morehouse students? Well, I wanted to give them some context when they asked me about my fundraising journey in comparison to the other company that was on their campus passing out flyers. In my 7 years of running Legal Equalizer, we have only been able to raise barely over $500,000. We are one of the few tech companies that has been able to acquire more users than the amount of money we have raised. Ask anybody in this tech space how hard it is to survive on that amount of money for 7 years, and they will tell you it is almost impossible. I let those students know the biggest difference between Legal Equalizer and that other company: It was founded by a white man, and thus it was able to raise millions of dollars without having a finished product or the users. When one gets that type of funding, they are afforded the ability to build quickly, market quickly, and have a chance at success. The great trick that this other company has done is they are now running around claiming to be a Black-founded company, when their actual company paperwork says otherwise. The lesson for those students is to always be prepared to pivot and figure out other ways to build your dream. We discussed my work in the Web3 space with the DaGame , and other ideas that I am thinking about when it comes to raising funds. While my fundraising journey is tough and has been tough, I know that I am not special. This is an issue almost every Black founder will eventually face — until we get to that point in this country where our ideas and dreams are equally valued. Check out my  website . This is a content marketing post from a Forbes EQ participant. Forbes brand contributors’ opinions are their own.

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Legal Equalizer Frequently Asked Questions (FAQ)

  • Where is Legal Equalizer's headquarters?

    Legal Equalizer's headquarters is located at North Atlanta.

  • What is Legal Equalizer's latest funding round?

    Legal Equalizer's latest funding round is Seed.

  • How much did Legal Equalizer raise?

    Legal Equalizer raised a total of $120K.

  • Who are the investors of Legal Equalizer?

    Investors of Legal Equalizer include Techstars.

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