The legal tech “app store” Reynen Court has secured $3 million more in funding as the startup prepares for its official launch in the first quarter of this year.
The funding includes new financing from Ventech, an early-stage venture capital fund, and from Prins H LLC, an investment vehicle controlled by Reynen Court founder and CEO Andy Klein.
The undisclosed portion of new funding from Prins H comes on top of the $2.8 million it has already pumped into the company.
Reynen Court will allow attorneys at law firms and corporate legal departments the ability to browse scores of legal tech tools, including many powered by artificial intelligence. Users will be able to download programs onto their devices in private and cyber-secure cloud computing environments.
The funding comes as the Reynen Court platform enters its fifth month of live beta mode testing. Five firms that are part of the 19-firm consortium have participated in the beta launch. They include Reynen Court co-chair firms Latham & Watkins and Clifford Chance; vice chair Paul Weiss; White & Case; and Orrick.
“This additional capital allows us to keep our heads down to focus on on-boarding application vendors and robustly supporting the law firms launching our platform,” Klein said in a statement. “To each vendor and law firm we offer substantial assistance in project planning and technical implementation. This new funding provides us greater capacity to provide these services and thus will help us accelerate adoption by both sides of the marketplace we are creating.”
Reynen Court was designed in significant part to accelerate the legal industry’s adoption of AI and other new technologies.
In addition to the Prins H, the initial funding round of $7 million in December 2018 included $2.1 million investments from Latham and Clifford Chance.
Reynen Court received a boost last month when a unit of Big Four accountancy Deloitte, Deloitte Legal Ventures, included Reynen among a small group of startups they’ll be be working with to test and scale their platform.
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