Software

MULTIMILLION-INVESTMENT SECURED BY LEGAL CLOUD SOFTWARE FIRM

Multimillion-investment secured by legal cloud software firm

Nottingham-based legal cloud software provider has secured an investment worth more than £7m a Silicon Valley company and a Glasgow-based private equity firm.

Peppermint Technology has received the backing of California-based Accel-KKR and Scottish Equity Partners which was already invested in the business.

The funding will support management’s plan to accelerate growth, further develop its Legal SaaS platform and increase resources.

Gary Young, chief executive of Peppermint Technology, said: “This is a very exciting time for Peppermint.

“The backing of both Accel-KKR and SEP reinforces that our innovative approach to transforming legal services through technology fundamentally sets us apart in the industry.

“When I joined the company in early 2018, I recognised a real opportunity to make a difference in the legal sector.

“With this investment, we will continue to enhance our product offering and accelerate our go-to-market strategy, whilst focusing on the delivery of a great experience to our customers.”

Samantha Shows, managing director at Accel-KKR, added: “Since we first began conversations with Peppermint, we have been impressed with the sophistication and focus of the management team and their mission to leverage technology to make their customers lives easier and more efficient.

“We are excited to back this customer-centric business as they continue building their momentum in the market.”

David Sneddon, partner at SEP, said: “As the only true full-service cloud based legal software provider in the UK, combined with Microsoft’s recent endorsement, the growth opportunity for Peppermint remains strong.

“Our further investment, alongside that from Accel-KKR, will enable the company to scale in response to increasing market demand for its award winning, innovative legal software.”

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