Legal tech app platform Reynen Court has signed on six new law firms, including Davis, Polk & Wardwell and Simpson Thacher, to its growing list of Big Law backers as it prepares to launch the first version of its “app store” later this year.
Reynen Court, which now has 18 firms backing it, up from its original dozen, is building a platform to allow law firms streamlined access to legal tech tools, including artificial intelligence-infused apps that can design smart contracts, among other tasks.
Additional firms that have newly joined the Reynen Court consortium are Cleary Gottlieb Steen & Hamilton; Debevoise & Plimpton; Slaughter and May; and Weil, Gotshal & Manges. They join a group of existing backers that have been led by co-chair firms Latham & Watkins and Clifford Chance, and vice chair firm Paul Weiss.
“We are on target to launch a first version of our platform in the third quarter 2019 and more than 70 third party application developers are currently working towards integrating products into our solutions store,” Reynen founder and CEO Andrew Klein said in a statement.
Reynen has assembled a team of experts in enterprise software, cyber security, and cloud native computing technologies, according to the statement.
With the aid of vendors and the new firms, Klein said that the group aims “to massively accelerate” the pace of tech adoption in the legal industry.
The aim of the Reynen platform will be to allow firms to be able to adopt legal tech apps quickly and securely, without exposing firms or their clients to third-party cloud environments. As part of the rollout, the startup also plans to “accelerate interoperability” between and among the legal tech apps the platform chooses to host.
The two consortium co-chair firms, Latham & Watkins and Clifford Chance, each have invested $2.1 million into the startup, Klein previously told Bloomberg Law. Klein, a former associate with Cravath, Swaine & Moore, added that he’s put in $2.8 million of his own money into Reynen through an affiliated company called Prins H LLC.