National law firm Ashfords LLP has invested in tech start-up, Route 1 International, who plan to disrupt the stale, opaque and high cost legal recruitment market by creating a low cost and highly efficient tech substitution.
Whilst Ashfords has and continues to develop its non-legal business including its Health & Safety consultancy, patent filing service, financial services and the creation of a professional services focused extranet and contract management facility, this investment represents Ashfords' first external investment and sees Ashfords participate in an investment round with a syndicate of experienced angel investors.
Andrew Betteridge, Partner and Head of the Corporate and Commercial Team at Ashfords LLP, led the investment. Andrew commented:
"Investing in Route 1 reflects a very exciting time for us at Ashfords and reinforces our position as investors as well as being recognised as leading lawyers in our fields, including the venture capital market.
"This has been a great year for the firm especially with our Corporate and Commercial Team's recent outstanding rankings in the Experian Market IQ Deals Review. We are delighted to have invested in Route 1 and we look forward to working together to maximise their potential this coming year with full support from our Venture Capital Team and the Firm as a whole."
Henry Allan, Founder of Route 1 commented: "We have created a simple yet powerful web- and mobile-based platform for employers that are tired of the hassle and high cost associated with recruiting talent. We will put the funding from Ashfords towards sealing our place as the go to solution for law firms, banks, funds and corporates of all sizes looking to hire legal talent. As well as their investment, Ashfords’ experience in advising tech businesses has been helpful in positioning our business for high growth and rapid international expansion. This alongside their entrepreneurial approach, experience and advice on IP matters made them an ideal early investment partner."