Scottish Equity Partners has invested £10 million in Peppermint Technology, a Nottingham-based legal and dispute management technology provider.
The investment from the Glasgow-based venture capital firm aims to allow Peppermint to accelerate its growth of the legal and dispute management market.
The firm currently has more than 5,000 users across 30 legal and dispute management firms. Launched in 2010, Peppermint has doubled its revenue in each of the last three years and employs 60 staff.
The investment follows the recent appointment of Neville Davis as Peppermint’s chairman and Mike Kent as chief financial officer.
Mr Davis was the senior independent non-executive director at legal software supplier Tikit prior to its sale to BT while Mr Kent was previously the chief financial officer at both Tikit and legal digital dictation specialist BigHand.
Peppermint's software platform allows firms to transform the delivery of services and improve the efficiency of their back office operations.
Peppermint founder and CEO Arlene Adams said: “This funding will enable us to invest further in our product and our people to meet demand.
“We are pleased to have secured SEP, with their significant experience of supporting high growth businesses, as investors and look forward to working with them to achieve Peppermint’s full potential as the dominant player in the legal and dispute management market.”
Gordon Beveridge of SEP said: “This investment, together with the appointments of Neville Davis and Mike Kent, will underpin the future growth of the business enabling it to continue to develop innovative, market-leading disruptive software.”
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