👔

Crespect

Deal: Crespect

Intro request: Interested to get in touch with founders

Overview

Uniquely intelligent (AI) all-in-one cloud software to operate and grow a modern law firm.

Product is launched, paying customers. Proven to increase revenue per lawyer by at least 30%. Subscription agreements signed for 30,000 EUR MRR and Letters of Intent for 40,000+ EUR MRR.

Q4-24 next round: 1.4 MEUR to achieve break-even in 2026 and to accelerate scaling. Soft commitments: 0.4 MEUR.

Experienced team with diverse backgrounds. Distinguished advisors and lead-investors including Aku Sorainen and Sergei Anikin. Selected into multiple accelerator programs and received Estonian Innovation Agency grant.

Backstory

We had an initial call with Lauri two weeks ago from today. He was interested to see if fff might be interested in putting together and SPV for this offer.

After this, Tim spent time on pre-validating this opportunity and as things stand, fff is still considering putting an SPV with its members.

We are sharing this deal in order to see if we there is interest from the community members. In case there is - fff will dive deeper and create an Investment Memo + involve needed people for the actual DD.

Company has strong backing by Aku Sorainen, which also indicates industry expert validation.

‣
Adding Aku Sorainen comment as well:
Building on our technological success, Sorainen made a technology spin-off company Crespect (www.Crespect.com) two years ago to scale our innovations. Crespect is ideal for law firms with multiple offices or at least 100 lawyers, where the need for data management is critical. Quality data is essential for collaboration, CRM, know-how management, business analysis, machine learning, and GenAI.

Crespect’s first version went live in October 2023. We are currently onboarding our first large clients and piloting the system with 10 law firms across Finland, Poland, the Czech Republic, Hungary, Ukraine, and Germany. Crespect delivers bi-weekly new product releases and is developing advanced AI features.

Through extensive discussions with hundreds of law firm leaders worldwide during the past 10 years, I have identified a common challenge: the lack of structured data, which hampers business opportunities and efficiency. The primary obstacle is the inconvenience of data entry across disparate systems. Crespect addresses this by integrating data management into a single, user-friendly platform designed by lawyers for lawyers.

We have presented Crespect to over 50 international law firms, receiving highly positive feedback. However, potential clients are cautious about transitioning to a new system, given the critical role of PMS in their operations. They seek assurance from the experiences of our initial clients and the security of our cloud solution. This trust-building process requires time, but we are at a unique juncture. Major competitors are only now developing their cloud solutions, giving us a 6-12 month window to establish Crespect as the leading Cloud-based PMS in the market.

We are close to securing enough clients to build a robust track record, which will support our broader sales efforts. In the next 12 months, we aim to enhance Crespect with GenAI features, positioning it as the most modern and comprehensive PMS for our target market.

We believe we can once again disrupt the legal market, this time extending our influence beyond the Baltics to Continental Europe and beyond.

Key info

Founders: Katri-Helen Wojtkosiak (CPO & Co-founder) / Lauri Läheb (CEO & Co-founder) / Karolina Šilingienè (CBDO & Co-founder

Round size: 1.4m€ / Seed

Available allocation: ca.1m€

Participating Investors: Sorainen + Angels

Pitch Deck

Preview Video