SEP backs legal technology outfit with £10m

Venture capital firm Scottish Equity Partners (SEP) has invested £10 million in a technology firm focused on the legal and dispute management arenas.

Arlene Adams, founder and chief executive of Peppermint Technology

SEP’s investment in Peppermint Technology, based in Nottingham, was led by director Gordon Beveridge, who said the firm had been “very impressed” with its growth since launching in 2010.

Peppermint founder and chief executive Arlene Adams said: “We have grown rapidly over the past five years and are seeing increasing interest from legal and dispute management firms seeking an innovative industry platform.

“This funding will enable us to invest further in our product and our people to meet that demand. We are pleased to have secured SEP, with their significant experience of supporting high-growth businesses, as investors and look forward to working with them to achieve Peppermint’s full potential as the dominant player in the legal and dispute management market.”

The investment came as Peppermint, which has more than 5,000 users across 30 legal and dispute management firms, announced the appointment of Neville Davis as chairman and Mike Kent as chief financial officer.

SEP, which has offices in Edinburgh, Glasgow and London, makes equity investments of up to £20m in high-growth technology companies. The firm, an investor in Edinburgh-based travel search engine Skyscanner, last month took part in the £9.5m funding round for SportPursuit, a website specialising in “flash sales” of sportswear.