Pioneering Legal Technology Platform Secures Further Funding from New Investors and Current Shareholders
arch 8, 2022 (New York City and Amsterdam): Reynen Court, Inc., the legal technology platform now supported by more than fifty of the largest law firms and corporate legal departments, today announced the closing of $4.3 million of additional financing from three new investors and existing shareholders. The new investors include venture capital funds Bryce Catalyst and Forefront Venture Partners. Existing investors participating in the new round include global, early-stage VC Ventech and international law firms Clifford Chance and Latham & Watkins.
Reynen Court provides a platform — akin to an app store — where firms and law departments can research, test, securely adopt and manage cloud-based software applications on infrastructure of their choice. Since its inception, a consortium of twenty of the largest global law firms has actively supported the company’s development. More recently, a second consortium of twenty-two of the most important banks and global corporations came together to collaborate with Reynen Court and its law firm consortium. More than one-hundred and fifty third-party application vendors are participating on the Reynen Court platform or working towards participation pursuant to signed agreements.
“The legal industry is facing an onslaught of new software applications and most of these have been designed and built to leverage cloud-computing,” commented Cary Burch, the President and CEO of Bryce Catalyst and former SVP and Chief Innovation Officer at Thomson Reuters. “Due to security and data protection policies, however, it is extremely costly and time consuming for large legal organizations to vet and secure permission to use new SaaS solutions. By making it easy for law firms and law departments to adopt and run third-party software applications in private cloud infrastructure under their own control, we believe Reynen Court is strongly positioned to play a central role in the transformation of the legal industry that is well underway.”
“We are impressed with Reynen Court’s strong traction and unprecedented support from so many of the largest law firms and corporate legal departments,” added Phil Nadel, managing director of Forefront Venture Partners, a recent investor in several legal technology companies. “The company’s proprietary and highly differentiated platform solves critical problems for both buyers and sellers of AI, smart contracts and other new cloud-based software applications. The team has deep legal sector and technology expertise. Co-investors are high caliber and very active.”
“We are excited to welcome our new shareholders and thrilled to see our initial investors reaffirm their commitment to our ambitious vision,” said Reynen Court founder and CEO Andrew D. Klein. “Reducing the time and cost involved in sourcing, testing and safely deploying new cloud-based solutions is clearly an important objective for large legal organizations. We look forward to working with this extraordinary group to help accelerate business transformation for both the buyers and sellers of legal technology.”
For more information on the Reynen Court platform, please visit www.reynencourt.com.
Reynen Court Contact:
Media Inquiries at Reynen Court
+1.917.588.0746 / +31.623660310
Bryce Catalyst Contact:
Kelly Kelleher, Creative Director
Forefront Venture Partners Contact:
Phil Nadel, Managing Director
About Reynen Court
Reynen Court Inc. (www.reynencourt.com) makes it fast, easy and secure for law firms and in-house legal departments to discover, test, adopt and strategically manage Artificial Intelligence, Smart Contracts and other new technologies. Our platform enables firms to run cloud-based applications either on-premises or within virtual private clouds under their own control — thus giving access to the benefits of modern cloud computing without requiring a sacrifice of security or stability. The platform also takes time and costs out of traditional technology procurement and deployment processes by providing a content rich solution store together with tools and automation for testing and purchasing applications and utilities that drive interoperability between and among other applications as well as with a firm’s primary systems and infrastructure. The platform also enables firms to comprehensively gather and analyze cost and usage metrics to aid in better predictability of IT software and infrastructure maintenance and expenditure. We are supported by more than fifty of the largest global law firms and corporate legal departments. Clifford Chance, Latham & Watkins, Orrick and Nishimura & Asahi are investors in the company.
About Bryce Catalyst
Bryce Catalyst is a unique investment company with a focus on high growth sectors including cyber security, legal technology and regulation technology. Bryce Catalyst is managed by highly recognized software operators with proven track records of growing software & technology enabled companies. As operators for operators, we have an affinity for closely held and operator-owned companies; and believe that beyond profits, aligned interests and a shared purpose are true measures of a successful partnership. For additional information, visit www.brycecatalyst.com.
About Forefront Venture Partners
Forefront Venture Partners (www.forefrontvp.com) invests in high-growth, revenue-generating, early-stage companies led by amazing founders. And then we do everything we can to stack the deck in their favor. We invest primarily in Seed and Series A rounds across many sectors and geographies. Between our dedicated fund and our large syndicate, our typical investment amount is $500k-$1M. We focus on investing in companies where the Forefront community can add significant value beyond capital. This includes introductions, strategic advice, referrals and more.