Taylor Vinters has invested in a start-up aiming to revolutionise the way lawyers collaborate with their clients.
The Cambridge law firm has backed Pekama as part of an over-subscribed funding round which has just closed.
Based at St John’s Innovation Centre, Pekama provides a cloud-based collaboration tool that allows lawyers, clients and third parties to communicate in real-time. It says this can eradicate email congestion, centralise access to legal documents and keep clients up-to-date on the progress of each legal matter.
The investment is Taylor Vinters’ first in a Cambridge tech start-up, but the firm’s managing partner Ed Turner told the News more could follow next year.
“This investment is an exciting addition to the Taylor Vinters’ business portfolio,” said Turner, pictured above.
“From a law firm perspective, we can see just how transformative to business efficacy and client satisfaction and retention the Pekama software can be and we are already trialling it within our business.
“Our investment in Pekama represents a considerable shift in the traditional law firm business model we see elsewhere, which only commits capital to initiatives the firms owns or accesses exclusively. Taylor Vinters is proud to be different; we believe in collaboratively nurturing innovative ideas so they can flourish for the betterment of the industry.
“Legal Tech is a burgeoning sector, akin to FinTech, FashTech, AdTech and the Internet of Things, all fast-paced sectors where Taylor Vinters has seen increased client demand across all of our offices. This investment in Pekama is one way we show our ongoing commitment to participating in the Cambridge innovation ecosystem, supporting start-ups with high-growth potential and connecting them to our broad network across the UK and into Asia Pacific via Singapore.”
The undisclosed funding round, which involved a host of investors including Cambridge Angel Nick Balon, will allow Pekama to develop a full mobile experience of the software, connecting lawyers, clients and other stakeholders in real-time and across multiple devices. Its system is currently in soft launch, and the firm is working to integrate all of the major legal tools into its software. David Gill, managing director of St John’s Innovation Centre, is mentoring the firm.
“I am delighted to be closing a second successful round of funding for Pekama, which brings legal services into the 21st century,” said Pekama founder Ze’ev Fisher.
“With Pekama, we are building the future of legal services and as such we are working with forward-thinking law firms who want to participate in the creation of this future and to benefit from a first-mover advantage. I am thrilled to have Taylor Vinters on board and believe their entrepreneurial approach to the legal profession will be incredibly valuable to the development and scaling of Pekama.”
Originally published on the 10th of December 2015