Prosperoware Poised to Accelerate Growth with Investment from Rittenhouse Ventures
Philadelphia, PA – July 19th, 2018 –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. Existing customers include half of the G20 and Am Law 200, 64% of the Am Law 100, 40+ global corporations, including many of the Fortune 500, and the Big Four accounting firms. Prosperoware’s innovative software transforms how professionals work and enables firms to deliver more value to clients while protecting profitability. The platform empowers firms to reduce costs, improve profitability, and better compete by:
- Enforcing and automating need to know security and risk management
- Helping firms deliver more client value through predictable fees and insight into work performed
- Empowering professionals to leverage modern profitability metrics, which drive truly informed pricing, budgeting, and delivery decisions
Prosperoware’s teams work primarily from offices in Bala Cynwyd, London, Chicago, Pristina, and Mumbai.
About Rittenhouse Ventures
Rittenhouse Ventures is an emerging growth venture fund, based in Philadelphia and investing across the Mid-Atlantic region. The firm focuses on innovative software solutions that power enterprises in healthcare, life sciences, financial services, human resources, and general business services. With a unique combination of right-sized investments, deep domain expertise, and a proven track record, Rittenhouse Ventures optimizes capital and growth strategies for entrepreneurs.