Bridgewater Associates’ deputy general counsel has signed on to the board of growing legal tech company Reynen Court, which will function as a legal tech app store and is already backed by a group of major law firms.
Sylvia Khatcherian of Bridgewater worked for more than 13 years as the global head of Morgan Stanley’s technology, privacy, IP, and e-commerce law group before joining the hedge fund in 2015.
Reynen Court is primed to help law firms and corporate legal departments take advantage of a fast-growing legal tech market, which topped $400 million in funding to legal tech vendors in the first quarter of 2019, according to a Bloomberg Law analysis.
The Reynen Court app will allow lawyers to purchase legal tech vendor programs and download them onto their phones and work laptops in secure “cloud” environments.
The company confirmed it launched the platform in beta mode in August with five Big Law firms as the initial testers, including the co-chairs of the 18-firm consortium backing the platform, Latham & Watkins and Clifford Chance, vice chair firm Paul Weiss, as well as Orrick, and White & Case.
“Sylvia will guide us as we build support for moving law firm and client content out of traditional on-premise data centers and into firm controlled but third-party hosted virtual private clouds,” said Reynen Court founder and CEO Andrew Klein in a statement. “As an immensely respected lawyer and risk manager, she has decades of experience safeguarding the proprietary content of sophisticated financial institutions.”
Reynen Court’s website lists 55 legal tech vendor programs that law firms using the platform will be able to choose from, including nine that tout the use of artificial intelligence. Those AI-infused tools include Casetext, which speeds legal research for litigators; BlackBoiler, which assists with contract reviews; and Ping, which builds time sheets for lawyers and analyzes time data.
“By accelerating the adoption of legal technology, they have the potential to truly transform the legal industry for the benefit of law firms, their clients and society,” Khatcherian said of Reynen Court in the statement.
On Sept. 3, Reynen announced that Tim Klem, a product manager with complex enterprise software system experience, will be leading its efforts to drive interoperability between and among third-party legal tech software applications.
And just last week, Reynen hired former Goldman Sachs vice president Kathy Willing to be its chief financial officer. More recently, Willing worked as chief financial officer for Diversified Communications, a global media company.
Reynen Court’s five-member board also includes Tom Glocer, co-founder of BlueVoyant, a cyber security defense and APT monitoring company; Marcel Van Lohuizen, a longtime software engineer who has worked for Google since 2002; and Paul Greenwood and Ken Heaps, respectively the chief information officers for Clifford Chance and Latham & Watkins.