Rekoop, a Manchester, UK-based provider of time capture software used by law firms in over 40 countries, received a £500k in funding.
The Greater Manchester Loan Fund (GMLF)* made the investment.
The company intends to use the funds to further accelerate its growth in the UK and Europe as well as to market the software to the wider professional services market.
Established in 2010, Rekoop provides cloud-based software solutions for clients within the legal sector offering a range of automated systems for enabling work to be monitored and tracked. The software allows fee earners to record time accurately across a multitude of tasks. It tracks time spent drafting documents, writing and reading emails, receiving and making calls. The mobile GPS solution can also track time spent in meetings or travelling to and from meetings.
* The Greater Manchester Loan Fund, set up by the Association of Greater Manchester Authorities and is managed by Maven Capital Partners, provides initial loans of £100k to £500k to eligible companies in the Greater Manchester region which are experiencing difficulties in accessing traditional forms of bank finance. The GMLF also offers the potential for follow-on funding of up to £750k to qualifying companies in exceptional circumstances.