Legal tech provider Lavatech reports 130% revenue growth

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Specialist mobile app company Lavatech, which secured a minority private equity investment from Inflexion just over 12 months ago, has reported a 130% growth in revenue to its year end in June 2021.

Lavatech founder and chief executive officer Sucheet Amin paid testament to the resilience of his people during an unbelievable year, which saw headcount more than triple from 8 to 25.

Amin said: “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 attracted the interest of businesses forced by the pandemic to embrace new technology, particularly communication platforms.

Using a simple and straightforward licencing model, Lavatech has seen its monthly recurring revenue grow by 186%, supported by a new electronic identity verification service, critical in legal transactions.

Amin 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.”

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Mark Dugdale is the editor of Claims Media. Mark welcomes articles, letters or feedback from readers and can be reached via mark.dugdale@barkerbrooks.co.uk