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Third round funding from YFM Group for OchreSoft


The YFM Group managed South West Ventures Fund (SWVF) is pleased to announce further investment for specialist workflow and content management tool provider, Swindon-based OchreSoft Technologies.

OchreSoft Technologies, established in 2003, is a leading provider of software as a service solutions to legal practices throughout the UK. The investment is made alongside other private shareholders.

SWVF first invested in OchreSoft Technologies in September 2005 to help develop the business and its products. This latest round of funding will be used to help OchreSoft fund ongoing product development, increase its market share and recruit a larger sales force.

Over the past few years, OchreSoft Technologies has been using its funding to extend the range of applications available on its Intelliworks® platform. The Intelliworks workflow software offers legal firms the ability to streamline processes such as residential conveyancing, wills and remortgage for a small fee per case. This technology has previously only been available to much larger firms.

OchreSoft Technologies is currently developing a probate module. The software is modular, providing firms with the ability to choose the workflow relevant to them. Each workflow can be delivered on-demand via the internet.

The company has over 35,000 cases on its system at any one time and over 170 firms are using the service on a monthly basis. The number of monthly-completed cases has doubled in the last 12 months and OchreSoft Technologies has recently signed a contract with a national firm with a contract value of over £250k.

Scott Duncan, CEO at OchreSoft Technologies said: “Our Intelliworks solution is designed for solicitors by solicitors and is the best system available on the market. It is incredibly user friendly and easy to deploy. This round of funding will enable us to expand our sales team and launch our new modules, providing invaluable tools to the legal community.”

Nick Simmonds, Investment Manager with SWVF, said: “While working with OchreSoft Technologies we have watched the company develop its software and offering. It has a very focused and dedicated team. News of these latest modules and the company’s plans to expand its sales team are very promising developments.”

ENDS

NOTES TO EDITORS:

YFM Group

YFM Group is the UK’s most active investor in the small and medium enterprise marketplace. YFM Group manages in excess of £300 million of funds with investment sizes ranging from £50,000 to £5 million. Principal offices are located in Leeds, Manchester, London and Bristol with over 45 investment professionals being employed across the UK.

South West Ventures Fund was established in 2002 to provide risk capital of up to £660,000 to SMEs in the South West of England. To date the Fund has invested over £14m in 31 companies in a wide range of high-growth sectors from software, electronics, telecoms and biomedical, to defence and speciality foods. The Fund is now actively engaged in focusing on its portfolio of companies, supporting them in their growth and development.

South West Ventures Fund is managed by YFM Venture Finance Limited part of the YFM Group. YFM Venture Finance Limited is authorised and regulated by the Financial Services.

For further information about YFM Group and South West Ventures Fund, please telephone 0117 906 3410, log on to www.southwestventuresfund.co.uk or email info@southwestventuresfund.co.uk

Media enquiries: To arrange an interview with South West Ventures Fund, please contact Matt Anderson (matt@montagecomms.com) or Aime Southgate (aime@montagecomms.com) at Montage Communications on 0845 644 5404 / 077470 48731.

About OchreSoft

OchreSoft is an independent software house specialising in the legal application market. Formed in 2003 out of a research program originating within BPE Solicitors, the OchreSoft Intelliworks Software has been designed for Solicitors by Solicitors.

Intelliworks is already used by many of the UK’s leading high street law firms to process thousands of residential property purchases every year and is available as an on-site installed module or an ASP solution and offers a pay per use pricing model.

For more information visit www.ochresoft.com


Publisher Contact Information:

Yorkshire Fund Managers Ltd
+44117 906 3410
info@southwestventuresfund.co.uk

Company profile of Yorkshire Fund Managers Ltd
Past press releases of Yorkshire Fund Managers Ltd.

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