Harper James Solicitors helped a leading tech firm secure £1m in funding - which will help it expand the work it does both here and overseas.
ToucanTech provides cloud software that allows schools, charities and companies to create an online hub that manages all their community activities in one place. Now the London-based firm has landed investment from consumer venture capital trust, Pembroke VCT, to grow its fast-growing businesses across its domestic and international markets.
Our corporate solicitor Stephen Evans supported ToucanTech in their application for funding. And he has helped guide them through the process to conclusion.
Kate Jillings, the firm’s co-founder, says the company’s ambition is to provide a platform from where education and nonprofit organisations can engage meaningfully with their large network of supporters.
‘Many education and charity sector organisations do not have the luxury of large teams to manage their community activities and encourage donations,’ Kate said. ‘Existing databases are clunky, expensive and often unable to meet all their communication and fundraising needs, for example, often requiring bolt-on services for emails, payments and online membership. We have built a single platform to provide an all-in-one solution to manage and engage dispersed communities.’
Kate also paid tribute to the support we gave her company and we have since helped in other areas of her business. 'We signed up with Harper James last year and have found them a very efficient and straightforward law firm to support the growth stage of our software business. In addition to several ad hoc data privacy and IP questions, a specialist corporate lawyer has recently hand-held us through our first external investment fundraise, from the initial strategy calls, due diligence process, the drafting of all required legal documents and related loan agreements and other board papers required for the transaction. Our lawyer Stephen Evans was clear, responsive and understanding throughout, and we're extremely grateful.’
Launched in 2016 after 18 months of product development by Kate and co-founder, Sian Morley-Smith, ToucanTech transforms the way that organisations manage their community administration, helping them to deepen engagement, save time and improve fundraising campaigns in one easy-to-use platform. To date, the company has over 170 clients, tracks nearly £300m of donations through its database, and schools and charities send 150,000 emails per month to the one million plus people in their networks via the platform.
ToucanTech's work clearly impressed Andrew Wolfson, the CEO of Pembroke Investment Managers LLP. He added: ‘Kate and Sian are exceptional founders who have developed ToucanTech into a platform that can really help schools and charities with operational efficiencies. It is clear from the feedback we have received from their many clients that they value what the platform enables them to do, but, in addition, they also benefit from the willingness of the team at ToucanTech to provide support and continue to develop based on feedback. ToucanTech are partners with their clients, not just providers.’