By Legal Futures Associate inCase
Specialist mobile app company, Lavatech which secured a minority PE investment from Inflexion just over 12 months ago has reported a 130% growth in revenue to its year end in June 2021.
The company, which was founded by solicitor and its CEO, Sucheet Amin pays testament to the resilience of his people during an unbelievable year, which saw headcount more than triple from 8 to 25.
“During the first lockdown, we saw no appetite for law firms to invest in new technologies, preferring to wait and see how their businesses adapted as we all settled into a new normal. However as soon as the first lockdown ended, we saw a huge spike in interest and new business as firms realised the potential of our platform to support them through new working practices.”
The platform, inCase has benefited from the pandemic forcing businesses to embrace new technology, in particular communication platforms.
Using a simple and straightforward licencing model, the company has seen its monthly re-occurring revenue grow by 186%, supported by a new electronic identity verification service, critical in legal transactions.
Sucheet added, “These incredible results are a combination of a simple yet effective solution, dedicated people and a formidable leadership team. Our ambition is to maintain and improve upon this impressive growth trend for the year ahead.”