Whoa, this just in from Reynen Court, which we previously dubbed ‘the legal tech app store’ and now has completed its Series A investment with participation from Clifford Chance and Latham & Watkins:
Reynen Court LLC, a technology startup building a services automation platform for the legal industry, today announced the completion of a Series A investment round with financing from Latham & Watkins, Clifford Chance and Prins H LLC, an affiliate of Andrew D. Klein, the company’s founder and Chief Executive Officer.
Reynen Court aims to make it easy, secure and efficient for law firms to deploy heavy computing applications. A consortium of law firms, co-chaired by Clifford Chance and Latham & Watkins, is supporting the development and launch of the platform. Other participating firms include Paul Weiss (vice chair); Covington; Cravath, Swaine & Moore; Freshfields Bruckhaus Deringer; Gibson Dunn; Linklaters; Orrick; Ropes & Gray; Skadden Arps; and White & Case.
Paul Greenwood, Chief Information Officer at Clifford Chance, and Ken Heaps, Chief Information Officer at Latham & Watkins, will join Reynen Court’s board of directors.
“Both of these great firms have provided incredible strategic support since our inception,” said Klein. “We could not imagine more valuable, aligned investors.”
Reynen Court will use the funds to hire more engineers and product managers and also put in place experienced account and deployment managers as it prepares to launch pilots with members of the consortium.
A range of legal technology vendors covering document automation, process engineering and AI are working towards making their applications available through the Reynen Court platform.
Paul Greenwood, Chief Information Officer at Clifford Chance, said: “Technology is playing an increasingly important role in our drive to service our clients in a way that is ever quicker, simpler, more efficient, and more robust. As the new wave of technologies enter the legal market, we need to consider how firms and clients can access them in a secure and integrated manner. We see Reynen Court as the missing piece of this evolving and exciting puzzle and we are delighted to be supporting its progress.”
Ken Heaps, Chief Information Officer at Latham & Watkins, commented: “Staying at the forefront of emerging technologies is not only a top priority but a strategic imperative for Latham & Watkins — and Reynen Court is an important part of our strategy. We are thrilled to be joining its board and co-chairing the consortium of firms, who bring insights, experience, and a spirit of forward-thinking collaboration. It’s an exciting time.”
Terms are as yet undisclosed.
If you were in any doubt to date that Clifford Chance and Latham will put their full weight behind Reynen Court, that should end now.
We were the first to break the news that Slaughter and May is an investor in Luminance, with a 5% stake, however investment by law firms at this level is still fairly rare.