HAVAÍC and Drive Revenue are pleased to announce that Drive Revenue (Pty) Ltd (“Drive” or the “Company”) has, with the assistance of HAVAÍC, successfully closed its first external funding round underpinned by overseas investors.
Drive Revenue has successfully developed a cloud-enabled financial management system which is specifically geared towards legal practices, and which:
- allows for an integrated and coherent system for recording time and activities;
- issues invoices based on inputs;
- produces financial accounts for the practice, customised for accounting rules of specific geographic markets and management of trust monies; and
- enables real time analysis of practice performance metrics.
The proceeds of the capital raise are being used by Drive to further develop system features for the modern legal practice and to actively market this cost-effective product to the local market.
The Company has recently hired two full-time sales specialists, with significant experience in the legal software sector, and a senior systems / business analyst. As a result of the recent hires, the Company has secured improved sales and adoption of its solution.
Jenny Assheton-Smith, the CEO of Drive, “Since going to market, the demand for our solutions has ratified our commitment to providing solutions that are scalable, secure and hassle-free. Cloud technology has brought the best in infrastructure facilitation, from server availability and computing power, security, disk space, backup and disaster recovery to every device on the planet at a fraction of the cost, completely minimising the risk of running your own infrastructure in-house. We built our applications using the very latest in cloud application development technology, and provide our enterprise grade solutions affordably and cost effectively to the smallest through to the largest law firms in the world, and our clients love that our applications are simple and easy to use, whilst still delivering complex functionality.”
Grant Rock, executive director of HAVAÍC, and former corporate M&A lawyer: “When I first met Jenny and her team in late 2016 and saw a demo of the product offering, I immediately recognised the usefulness and simplicity of this product for the legal practitioner compared to the existing expensive legacy systems. We are excited to see the rapid uptake of this great product.”
HAVAÍC is an investment and advisory firm that specialises in early-stage, high-growth African businesses with proven concepts and global prospects, offering investment opportunities to sophisticated investors and international venture capital companies with an interest in Africa. As a complementary offering, HAVAÍC provides corporate advisory and capital raising services to emerging, internationally scalable businesses.