Prosperoware, a leading enterprise software company delivering innovative technology transforming the business of legal and professional services, announces the closing of a new round of capital.
The financing was led by Rittenhouse Ventures, an emerging growth venture fund that invests in innovative business-to-business software companies in the Mid-Atlantic region. The capital raised will be used to expand Prosperoware’s product applications, marketing and sales activities, and geographic footprint.
“Prosperoware offers unique technology tools to maximize value for professional service firms in a market faced with increasing pressure on margins. Given our track record with enterprise software platforms, we are excited to enhance Prosperoware’s market leadership as it delivers and sustains top-tier solutions to the legal and professional services industry,” said Bruce Luehrs, Managing Partner at Rittenhouse Ventures.
Prosperoware technology enables law and professional service firms across the globe to deliver and manage client value, improve profitability, and secure, manage, and govern data across content systems.
Among Prosperoware’s core products, Umbria is the legal industry’s only client value management platform. Umbria enables firms to deliver matters at the expected price--enhancing client satisfaction and firm profitability--by integrating the critical business functions of sell, deliver, leverage and measure. The next generation cloud-based platform, CAM, manages all cloud applications from a single place. The company’s Milan products enable firms to mitigate risk, secure client data at scale, and meet ethical, regulatory, and client privacy mandates, as well as drive key operational efficiencies.
The company’s innovative solutions have already gained recognition and accolades from industry peer organizations. The company serves more than 270 customers, 30+ legal departments, including Fortune 500 clients, and over 300,000 users worldwide.
“We are extremely pleased that the Rittenhouse Ventures’ team is helping us accelerate our ability to dramatically enhance business practices at professional service firms. Rittenhouse has been instrumental in shaping our capital deployment and growth strategies. We look forward to having Rittenhouse as a long-term partner,” said Prosperoware CEO, Keith Lipman.
Prosperoware is an enterprise software company providing solutions for law firms, corporate legal departments, and professional services firms. Our customers include nearly half of the G20 and Am Law 100 firms as well as large global corporations and Big Four accounting firms. Our innovative software transforms how professionals work and enables firms to deliver more value to clients while protecting profitability. We empower firms to reduce costs, improve profitability, and better compete by:
- Simplifying iManage administration and improving user adoption of electronic files
- Enforcing and automating information governance with a focus on security and risk management
- Improving relationships with clients by delivering predictable fees and beneficial insight into the work performed
- Empowering professionals to leverage modern profitability metrics, which drive truly informed budgeting and pricing decisions
Our teams work primarily from offices in London, Chicago, and Philadelphia. Our more than 255 customers range in size from small firms with just a handful of users to those with more than 14,000. Prosperoware customers include: Akin Gump, Goodwin Procter, Baker Botts, Hill Dickinson, Berwin Leighton Paisner, DLA Piper, Duane Morris, Hughes Hubbard & Reed, Sheppard Mullin, Comcast, and NBCUniversal.
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