Third round funding from YFM Group for OchreSoft
Swindon 16 November 2009 – The YFM Group managed South West Ventures Fund (SWVF) is pleased to announce further investment for specialist workflow and content management tool provider, Swindon based OchreSoft Technologies.
OchreSoft Technologies, established in 2003 is a leading provider of software as a service solutions to legal practices throughout the UK.
The investment is made alongside other private shareholders.
South West Ventures Fund first invested in OchreSoft Technologies in September 2005 to help develop the business and its products.
This latest round of funding will be used to help Ochresoft fund ongoing product development, increase its market share and recruit a larger sales force. Over the past few years, OchreSoft Technologies has been using its funding to extend the range of applications available on its Intelliworks® platform.
The Intelliworks workflow software offers legal firms the ability to streamline processes such as residential conveyancing, wills and remortgage for a small fee per case.
This technology has previously only been available to much larger firms.
Ochresoft Technologies is currently developing a module probate.. The software is modular, providing firms with the ability to choose the workflow relevant to them.
Each workflow can be delivered on-demand via the Internet.
The company has over 35,000 cases on its system at any one time and over 170 firms are using the service on a monthly basis.
The number of monthly-completed cases has doubled in the last 12 months and OchreSoft Technologies has recently signed a contract with a national firm with a contract value of over £250k.
Scott Duncan, CEO at OchreSoft Technologies said: “Our Intelliworks solution is designed for solicitors by solicitors and isthe best system available on the market. It is incredibly user friendly and easy to deploy.
“This round of funding will enable us to expand our sales team and launch our new modules, providing invaluable tools to the legal community.”
Nick Simmonds, Investment Manager with South West Ventures Fund, said: “While working with Ochresoft Technologies we have watched the company develop its software and offering. It has a very focused and dedicated team. News of these latest modules and the company’s plans to expand its sales team are very promising developments.”
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