Estonian Crespect receives over €830k for its cloud-based legal practice management system
The Tallinn-based Crespect, a spin-off from the Baltic law firm Sorainen, which develops an intelligent cloud-based legal practice management system for law firms, has received over €830,000. The funding consists of two parts — a grant of €227,000 from the European Regional Development Fund and a seed investment of €605,000 from undisclosed investors.
- Launched in 2022 as a spin-off from the law firm in the Nordic, Baltic countries, and Central Europe Sorainen, Crespect develops software that includes features such as client onboarding and management, case management, time tracking, billing, collaboration, and resource and know-how management. The all-in-one system aim to save time and provides an intuitive and smooth user experience.
“A few years ago, we invested over a million euros to make a modern cloud version of our system. It helps our lawyers to be much more efficient and as a result they can provide our clients with better service and more tailored solutions. As we built our system around CRM rather than revenue management, which is the standard approach on the market, we soon understood that we had created something unique and decided to make it publicly available to modern, progressive-thinking law firms. I believe the international legal industry will love it and clients will benefit from the improved service of their lawyers”says Aku Sorainen, senior partner at Sorainen and the founder of Crespect.
- Crespect has received a grant of €227,000 from the European Regional Development Fund, that aims to strengthen economic, social, and territorial cohesion in the European Union by correcting imbalances between its regions. The investors of the fresh seed round are not disclosed.
- The new funding will help to finalize the commercial version of the system and launch it internationally, that is scheduled for autumn 2023.