Reynen Court Secures Additional Funding

According to the media release, Reynen Court has secured $4.5 million of further funding to accelerate growth. Founded in 2018 with wide support from a consortium of nineteen leading global law firms, Reynen Court now has nearly two hundred third-party application vendors are actively engaged, with more than a hundred already under contract and currently present or working towards participation in the Reynen Court solution store.

en flag
nl flag
et flag
fi flag
fr flag
de flag
ru flag
es flag

Content Assessment: Reynen Court Secures Additional Funding

Information - 90%
Insight - 90%
Relevance - 95%
Objectivity - 90%
Authority - 95%

92%

Excellent

A short percentage-based assessment of the qualitative benefit of the recent posting highlighting a new round of funding for Reynen Court.

Reynen Court Secures Next Round Of Funding To Accelerate Growth

Media Release

Global Venture Capital Fund Ventech Lead New Financing Joined By Current Shareholders Clifford Chance, Latham & Watkins and Prins H LLC

New York – October 28, 2020 Reynen Court has secured $4.5 million of further funding to accelerate growth. Global venture capital firm Ventech led the round which included Clifford Chance and Latham & Watkins, who together led the company’s initial $10 million financing, as well as Prins H LLC, an investment vehicle controlled by Reynen Court’s founder and CEO Andrew D. Klein.

Founded in 2018 with wide support from a consortium of nineteen leading global law firms, Reynen Court has built and launched a platform – akin to an app store for legal technology – that makes it fast, easy and secure for law firms and in-house legal departments to discover, test, adopt and manage Artificial Intelligence, Smart Contracts and other new technologies. Latham & Watkins and Clifford Chance serve as co-chairs of the consortium. Nearly two hundred third-party application vendors are actively engaged with Reynen Court, with more than a hundred already under contract and currently present or working towards participation in the Reynen Court solution store.

“We are extremely proud to announce our new funding which will support the expansion of our team and thus the speed at which we can further develop our platform and business,” said Mr. Klein, a serial technology entrepreneur who started his career as a securities lawyer at Cravath, Swaine & Moore. “We are very grateful for the continued confidence expressed by Ventech, Clifford Chance and Latham & Watkins.”

Ventech managing partner Jean Bourcereau commented: “We have been closely watching the evolution of the legal tech environment globally and became convinced last year that the platform Reynen Court has created is going to accelerate the adoption of AI and other next-generation technologies in the industry. We had the chance to invest a small sum in the final closing of the company’s first round. We are now making a more substantial investment because we are hugely impressed with the scope and sophistication of the platform that has launched, the maturity and diverse talents of the management team and, of course, with the unprecedented support of so many of the world’s leading law firms.”

“Ever since our early involvement co-chairing the law firms supporting Reynen Court’s development, we have believed it could unlock the potential of legal technology for our clients, for us, and the industry as a whole,” said Paul Greenwood, the Clifford Chance Chief Information Officer. “We believe this now more than ever in light of the rapid acceleration in adoption of new technology in the legal sector catalysed by the outbreak of COVID-19.”

“Reynen Court has made great strides to enhance its platform and significantly expand the vendor pipeline,” added Ken Heaps, Chief Information Officer at Latham & Watkins. “The team is building a powerful platform that is not only well-positioned to increase the uptake of new technologies, but in fact to foster innovations that can scale to firms’ needs. We are delighted to be part of Reynen Court’s continued growth and long-term success.”

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 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 modern software solutions 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 a broad consortium of nineteen of the largest global law firms. Clifford Chance, Latham & Watkins and Orrick are investors in the company.  

Additional Reading

Source: ComplexDiscovery

Have a Request?

If you have information or offering requests that you would like to ask us about, please let us know and we will make our response to you a priority.

ComplexDiscovery is an online publication that highlights data and legal discovery insight and intelligence ranging from original research to aggregated news for use by business, information technology, and legal professionals. The highly targeted publication seeks to increase the collective understanding of readers regarding data and legal discovery information and issues and to provide an objective resource for considering trends, technologies, and services related to electronically stored information.

ComplexDiscovery OÜ is a technology marketing firm providing strategic planning and tactical execution expertise in support of data and legal discovery organizations. Registered as a private limited company in the European Union country of Estonia, one of the most digitally advanced countries in the world, ComplexDiscovery OÜ operates virtually worldwide to deliver marketing consulting and services.

A (Brand) New Approach? Considering the Framework and Structure of eDiscovery Offerings

Today’s eDiscovery providers may benefit from the lessons learned in the creation of the Sgt. Pepper’s Lonely Hearts Club Band album by creating a concept for branding and packaging their offerings within that brand in a connected, theme-based way that represents the offerings’ promise and capability in a way that is easy to understand and remember.

This fictionalized branding approach was developed from the intellectual exercise of trying to figure out a reasonable and memorable way to descriptively highlight the promise and capabilities of offerings typically delivered by full-service eDiscovery providers. It may not be completely comprehensive or fully normalized. However, the hope of sharing this branding example is that it might help those involved in the branding and communication of eDiscovery provider services and solutions.

First Legal Acquires eDiscovery Provider Redpoint Technologies

According to Alex Martinez, CEO of First Legal, “Both First Legal...

Veristar Acquires Planet Data

According to Veristar company founder, CEO, and president Rick Avers, “We...

Questel Acquires doeLEGAL

doeLEGAL today announced that it has been acquired by intellectual property...

Following the Money? Mike Bryant Provides a SOLID Look at Legal Tech Merger and Acquisition Activity

From seed and venture capital investments to private equity and Special...

A New Era in eDiscovery? Framing Market Growth Through the Lens of Six Eras

There are many excellent resources for considering chronological and historiographical approaches...

An eDiscovery Market Size Mashup: 2020-2025 Worldwide Software and Services Overview

While the Compound Annual Growth Rate (CAGR) for worldwide eDiscovery software...

Resetting the Baseline? eDiscovery Market Size Adjustments for 2020

An unanticipated pandemeconomic-driven retraction in eDiscovery spending during 2020 has resulted...

Home or Away? New eDiscovery Collection Market Sizing and Pricing Considerations

One of the key home (onsite) or away (remote) decisions that...

Five Great Reads on eDiscovery for February 2021

From litigation trends and legal tech investing to facial recognition and...

Five Great Reads on eDiscovery for January 2021

From eDiscovery business confidence and operational metrics to merger and acquisition...

Five Great Reads on eDiscovery for December 2020

May the peace and joy of the holiday season be with...

Five Great Reads on eDiscovery for November 2020

From market sizing and cyber law to industry investments and customer...

HaystackID Recognized in IDC MarketScape for eDiscovery Services

According to HaystackID CEO Hal Brooks, “We are proud to once...

A Generational View of Remote Security? HaystackID™ Releases 3.0 Security Enhancements to Review Technology

According to HaystackID's Senior Vice President and General Manager for Review...

Only a Matter of Time? HaystackID Launches New Service for Data Breach Discovery and Review

According to HaystackID's Chief Innovation Officer and President of Global Investigations,...

It’s a Match! Focusing on the Total Cost of eDiscovery Review with ReviewRight Match

As a leader in remote legal document review, HaystackID provides clients...

Cold Weather Catch? Predictive Coding Technologies and Protocols Survey – Spring 2021 Results

The Predictive Coding Technologies and Protocols Survey is a non-scientific semi-annual...

Out of the Woods? Eighteen Observations on eDiscovery Business Confidence in the Winter of 2021

In the winter of 2021, 85.0% of eDiscovery Business Confidence Survey...

Issues Impacting eDiscovery Business Performance: A Winter 2021 Overview

In the winter of 2021, 43.3% of respondents viewed budgetary constraints...

Not So Outstanding? eDiscovery Operational Metrics in the Winter of 2021

In the winter of 2021, eDiscovery Business Confidence Survey more...