Andrew Kleins Reynen Court targets investments from lawyers and technology enthusiasts to accelerate the modernization of the legal industry
NEW YORK, September 21, 2022 /PRNewswire/ — Reynen Court Inc., a growth-stage legal tech company, today announced the launch of an innovative online equity offering designed to transform attorneys and legal tech enthusiasts into motivated shareholders to transform the legal industry to accelerate. Already backed by leading law firms and venture capital funds, the company was founded by a serial entrepreneur Andrew D KleinPioneer of the first Internet IPO.
Founded in 2018, Reynen Court provides an app store-like platform that makes it easy for law firms and legal departments to find, test, adopt, and strategically manage third-party cloud-based software applications without having to relinquish control of their data.
Reynen Court’s platform is already licensed by 26 of the world’s largest law firms. On the other side of the marketplace, more than 160 legal tech providers are involved. Venture funds and four leading law firms have invested 19 million dollars of the initial capital.
The Offering, which is being conducted pursuant to Rule 506(c) of the Federal Securities Laws and is accessible at https://invest.reynencourt.com, is groundbreaking in its use of social media and other forms of public advertising to attract individual shareholders to a Mission to assist in the definition, adoption and support of technology standards aimed at reducing costs for both buyers and sellers of technology. The offering is an extension of the company’s recently closed funding round led by Ventech, a $1 billion global venture capital fund.
From the beginning, Reynen Court has used the power of community to set standards. Klein formed a consortium of 20 of the world’s largest law firms to help him develop the company from the first phase. Recently, Reynen Court formed a second consortium of 22 of the most influential corporate legal departments. Global law firms Latham & Watkins, Clifford Chance, Nishimura & Asahi and Orrick were early investors – further proof of the value Big Law sees in Reynen Court’s services and business model. Three venture capital funds also became early investors in the company.
“We believe passionately in the power of community,” said Mr. Klein. “We intend to secure capital to fuel continued growth while significantly enhancing our alignment with the larger legal community – the very attorneys, technologists and innovation professionals who are the true drivers of our industry’s future.”
The idea of aligning a company’s interests with community groups is not a new idea for Mr. Klein.
After high school graduation Harvard Law School, Klein worked as a corporate attorney at Cravath, Swaine and Moore for five years until he left the law firm in 1993 to start his first venture, a microbrewery called Spring Street Brewing Co. In 1995, he had the idea of raising capital for the brewery by… offers shares to the growing community of craft beer consumers via the Internet. No company had ever used a website or email to raise capital. The beer company raised a few million dollars in what was widely recognized as the world’s first online stock offering.
In 1996, Klein founded the Internet’s first investment bank, Wit Capital, and over the years that followed, Wit managed NASDAQ stock offerings for more than 300 technology companies – and regularly helped issuers make stocks available to their own clients. Wit Capital itself went public in 1999 with annual sales of 400 million dollars until 2001 and was eventually acquired by Karl Schwab.
“Powered by the same spirit that drove Spring Street Brewing Company and then Wit Capital, today we offer retail investors an opportunity to invest in Reynen Court,” said Klein. “We are thrilled to have lawyers and legal tech enthusiasts become shareholders, join our community and help us help the industry transform and modernize.”
The offering is open to US accredited investors. To access the offer, visit https://invest.reynencourt.com.
For more information on the Reynen Court platform, visit www.reynencourt.com.
Reynen Court contact:
Investor Inquiries:
Reynen court
+1.917.588.0746 / +31.623660310
[email protected]
Media Inquiries:
Jessica Resnick-Ault at Edelman-Smithfield for Reynen Court
+914-815-6966
[email protected]
About Reynen Court
Reynen Court Inc. (www.reynencourt.com) makes it fast, easy, and secure for law firms and in-house counsel to discover, test, deploy, and strategically manage artificial intelligence, smart contracts, and other emerging technologies. Our platform enables companies to run cloud-based applications under their own control, either on-premises or in virtual private clouds – giving them access to the benefits of modern cloud computing without having to compromise on security or stability. The platform also saves time and expense in traditional technology procurement and deployment processes by providing a content-rich solution repository along with tools and automation for testing and purchasing applications and utilities that promote interoperability between and among other applications and with an organization’s primary systems and infrastructure. The platform also enables organizations to comprehensively collect and analyze cost and usage metrics to support better predictability of IT software and infrastructure maintenance and expenses. We are backed by more than fifty of the largest global law firms and corporate legal departments. Clifford ChanceLatham & Watkins, Orrick and Nishimura & Asahi are investors in the company.
Important Disclosures
This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “estimate”, “plan”, “project”, “predict”. ‘, ‘intend’, ‘will’, ‘expect’, ‘anticipate’, ‘believe’, ‘aim’, ‘aim’ or other similar expressions which predict or indicate future events or trends or which are not statements of historical matter . These statements are based on various assumptions, whether expressed in this release or not, and on the current expectations of Reynen Court management and are not predictions of actual performance. These forward-looking statements are for illustrative purposes only and are not intended to be, and should not be relied upon by investors as, a guarantee, representation, prediction or definitive statement of fact or likelihood. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond Reynen Court’s control.
SOURCE Reynen Court
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