Business Manchester

Secure Web App Development: Best Practices and Techniques

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News Desk

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07/03/2023

Secure web app development is a critical part of any company’s cybersecurity strategy. As attacks on businesses increase, it is more important than ever to ensure that your web applications are as secure as possible.

In this article, we will outline some of the best practices for secure web app development, and provide mobile application development techniques for making your applications more difficult to hack.

Here are some best practices for secure web app development:

1. Use HTTPS for all your web app traffic.

HTTPS is the secure version of HTTP. When you use HTTPS, you encrypt all your web app traffic. This means that no unauthorized person can access your data or users’ data.

2. Develop on a secure web server.

Your web server must be secure. It must be protected against unauthorized access. You can use a secure web server such as Apache or NGINX.

3. Choose a Secure Architecture.

Another key step in secure web app development is to use a secure architecture. This will help to ensure that your applications are able to withstand even the most sophisticated attacks.

4. Make use of strong passwords.

User passwords must be strong. This means that they must be difficult to guess. You can use a password manager to create strong passwords for your users.

5. Opt for two-factor authentication.

Two-factor authentication is a security feature that requires two pieces of information to log in to your web app. This can include a password and a code sent to your mobile phone.

6. Update your web app frequently.

Your web app must be updated frequently. Ensure that all the security vulnerabilities in your web app are fixed. You must also ensure that the latest web app security features are implemented.

7. Employ a secure transmission protocol.

Data must be encrypted when it is transmitted over the internet. Use HTTPS or SSH for this purpose.

8. Conduct a security audit.

Periodic security audits are necessary. Check to see if there are any security vulnerabilities in your web app.

9. Work in a secure development environment.

Use a development environment that is secure. You can use a virtual machine to create a secure development environment.

10. Generate security codes.

Make use of a hash-based or similar security code generator to generate unique security codes for your users.

11. Create a secure backup solution.

You must use a secure backup solution. This means that you must create a secure backup of your web app.

These are just some of the best practices for secure web app development. Use these practices to make sure that your web app is always safe and that your users’ data is always secure.

Maker&Son Introduces Licensing Model for Furniture Specialists in the UK

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07/03/2023

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In response to the company’s sale and related legal issues, Maker&Son, a luxury furniture brand, has announced modifications to its commercial model.

The company has been established to oversee the brand and manage licensing agreements in the UK and overseas. The first licensee under the new model is The Hastings Sofa Company, which has experience as one of Maker&Son’s existing manufacturers.

The Hastings Sofa Company will run the Maker&Son business in the UK & Ireland territory, managing customer orders and selling and making luxury furniture under the Maker&Son brand. This company will operate separately from The Hastings Sofa Company business. Maker&Son has stated that the appointment of The Hastings Sofa Company as a licensee is positive because it ensures that past customer orders will be fulfilled in a timely manner.

Jack Mason, Group CEO of Inc & Co, the parent company of Maker&Son, explained “In our attempt to turn the company around having inherited its substantial debt when it was purchased, we did everything we could to deliver customer orders and find solutions where delivery was no longer suitable.”

“We formed Maker&Son Licenses to act as the brand guardian moving forward, managing our license agreements, and making sure that existing customers receive the best possible option, and new customers receive the quality of product and service that they rightly expect.”

Existing UK & Ireland customers who have placed orders will be contacted directly by Maker&Son to confirm whether they would like to proceed with manufacture and delivery or explore alternative solutions. The new licensee, The Hastings Sofa Company, will work with existing supply chains and manufacturers to ensure that materials and designs are of the highest quality for customers.

Danny Cleaver, Managing Director of The Hastings Sofa Company, stated “We’re approaching this new licensing agreement as a separate venture from any of our other companies, but our experience of building a successful high-end furniture brand means we’ve already got strong plans to grow the Maker&Son brand in the UK. That will include investing in showrooms and events as well as reintroducing product lines back into the UK portfolio in response to customer demand.”

“As we invest in growing our Maker&Son team in the UK and Ireland, we’ll work with the existing supply chain and family of manufacturers to make sure that the materials we use and the designs we create together are of the highest quality for our customers. We remain committed to the Maker&Son focus, on using natural materials and all made-to-order items will continue to be made by hand by highly skilled craftspeople.”

Maker&Son is set to expand its brand overseas and is expected to make further licensee announcements in the near future. The company plans to target five global territories by the end of 2023, as part of its ongoing growth strategy.

Manchester Company Thomas Kneale and Co Ltd Wins Sodexo’s Prestigious 2023 SME Supplier of the Year

Olivia McHugh

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07/03/2023

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Thomas Kneale and Co. Ltd SODEXO’S 2023 SME OF THE YEAR

The Sodexo “Stop Hunger” Foundation is an employee-led initiative conceived and promoted by Sodexo to fight food poverty and insecurity in local communities across the UK, Ireland and beyond. 100% of the donations made to “Stop Hunger” go directly to financing activities and sustainable solutions for disadvantaged communities to exit food insecurity . For example, it provides families on low income the chance to give their children the nutrition they need to grow into healthy adults; and gives disadvantaged young people a better understanding of how they can live a healthier lifestyle.

On Wednesday 1st March, Sodexo held their much-awaited Gala dinner at Headingley Stadium in Leeds to raise money for those in hunger poverty and it was very successful indeed. This was proceeded by their “Partners with Purpose” conference to which a small group of strategic supplier partners were invited. The Sodexo line up was very impressive including Sean Haley (CEO, UK & Ireland), Paul Anstey (CEO, Sodexo government) , Phil Smith (CEO, Schools and Universities), Francois Blanckaert (CPO), Patrick Forbes (Head of Supply management) and several other Heads of Procurement and Supplier Management.

Sodexo award to 2023 SME supplier of the year.

An important part of the day’s events was to make five category awards for outstanding partnership with Sodexo based on nominations made by Sodexo employees and the leadership team with categories centred around Sodexo’s values. The award categories were :

Service Spirit
Team Spirit
Spirit of Progress
Special award
SME supplier of the Year

Sodexo has over 4,400 suppliers in the UK with a large proportion of them SMEs like Thomas Kneale, so it was with huge pride that Richard J. Manville MD and Brett Mendell , Director had the privilege to accept the award of “SME of the Year, 2023” on behalf of Thomas Kneale and Co. Ltd

18A 25B 2727943 1521328509 6 1 — L-R – Brett Mendell, Richard Manville, Patrick Forbes.

Thomas Kneale was selected on the basis of outstanding and industry leading service levels, participation on mentoring programme with Net Zero, Ecovadis guidance and development within Sodexo, and for being a supplier of over 20 years that truly understands their customers’ needs and meets them consistently.

Manchester on the Map as 2023 Hotspot for B Corp Certification

Olivia McHugh

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07/03/2023

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Manchester is now one of the fastest-growing cities for sustainable business in the UK, with 29 Certified B Corporations in the city and the figure expected to double by the end of the year.

This news comes as research by YouGov reveals that 76% of people in the North West favour buying from companies that are doing good¹, while 10% of businesses in the region intend to make a legal commitment to people and planet through B Corp Certification.

Certified B Corporations, or B Corps, are companies that meet high standards of social and environmental performance, legal accountability, and transparency. To certify, a company must measure and improve their impact on their workers, customers, community, and the environment. B Corps in Manchester include employee-owned schoolwear manufacturer One+All, the Modern Milkman, Zen Internet and architectural studio Buttress Architects. There are currently over 1,200 B Corps in the UK and 6,400 around the world.

B Lab UK, the non-profit organisation behind the movement, has pinpointed Manchester and the North West of England as a target growth region for 2023 due to the existing momentum in the area.

Annie Olivier, Head of Growth at B Lab UK, commented:

“We’re excited to build on the incredible progress of the B Corp community in Manchester and address the local demands for purposeful business. Manchester has a rich history of leadership and innovation in business, from the Industrial Revolution to the present day advancement in engineering, tech and the low carbon sector. Alongside Manchester B Corps, B Lab UK will be supporting the city’s efforts to build a more equitable and inclusive economy, and to inspire the rest of the country to follow.”

B Lab UK will be working with enterprise partners in the area alongside the existing B Corp community over the next year and beyond, with the aim for Manchester to fulfil its potential as a haven for purposeful B Corp business. Other cities seeing particularly fast growth include Bristol, Edinburgh and Oxford.

Donald Moore, Chair at One+All, commented:

“Becoming a B Corp has validated our credentials and helps drive improvements across the business. But we want to do a lot more. We want to share how we’re helping to mitigate the cost of living crisis with other B Corps; poverty action is a key topic for our next B Local event. We’re proof that it’s possible to be both commercially successful and a force for good. We hope we’ll inspire other businesses across the region to join the B Corp movement.”

This March is B Corp Month, an annual celebration of what it means to be a B Corp. This year’s theme is We Go Beyond and the UK B Corp community will be gathering in Manchester later this month to raise awareness and build understanding about the B Corp Movement. More information about B Corp Month can be found here.

Fanattik Signs Global Merchandise Licensing Deal With KOMANI

Olivia McHugh

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07/03/2023

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Cheshire based Fanattik, the award-winning U.K. pop culture company, and Japanese video game giant Konami Digital Entertainment Inc. has signed a global merchandise licensing deal that includes three of their biggest brands: Metal Gear Solid, Castlevania and SILENT HILL.

There is so much in the pipeline for all three franchises. This is a great partnership for Fanattik and the retailers we supply. What started out as a casual conversation during my visit to Las Vegas Licensing Expo last year has evolved into something with such huge potential. Anthony Marks, M.D Fanattik

With the popularity in retro gaming, Fanattik will be working with several retailers to create exclusive pieces for Metal Gear Solid, Castlevania, and SILENT HILL in 2023.

Fanattik is best known for iconic film related gifts and collectibles being a licensee for Universal Studios, Hasbro, Paramount Studios, TOHO Studios etc but over the past few years they have grown their video game portfolio, becoming a licensing partner also for Microsoft, Bethesda, Capcom and many others.

We have a lot of experience working with Japanese studios. We will be bringing all this experience to the table when creating gifts and collectibles that will appeal to video game fans of these titles. Melissa Tudor Creative Director, Fanattik

Fanattik supplies leading gift and video game retailers all over the world, for further details on this unique creative business you can visit www.wearefanattik.com

About Fanattik:

Fanattik are an award-winning gift company who have been successfully working with licensors and retailers for more than fifteen years.

A licensing partner for some of the most iconic film and video game titles ever released, the limited-edition collectibles, gift and homeware Fanattik create are supplied to retailers in the UK, Europe and beyond.

About Konami Digital Entertainment :

Konami Digital Entertainment, which is the core company of Konami Group, develops entertaining content for mobile, console and card games. The company is known for global franchises such as eFootball™, Metal Gear, SILENT HILL, Castlevania, and Contra, as well as the Yu-Gi-Oh! Trading Card Game series. www.konami.com/games/corporate/en/

©Konami Digital Entertainment

Science in Sport (SiS) Reveals a Three-Year Strategic Partnership With Manchester Metropolitan University

Olivia McHugh

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06/03/2023

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Leading global endurance nutrition brand Science in Sport (SiS) has announced a three year partnership with Manchester Metropolitan University

Major global endurance brand Science in Sport (SiS) has announced a three-year strategic partnership with Manchester Metropolitan University.

The partnership will bring together state-of-the-art facilities and best-in-class research techniques with a global brand at the heart of elite sport to develop new knowledge that will ultimately provide novel performance solutions to athletes.

Science in Sport is the official sports nutrition partner to more than 320 elite athletes and professional sports teams including The INEOS Grenadiers, Tottenham Hotspur and The Milwaukee Bucks.

Manchester Metropolitan University’s existing partnerships include Manchester City Football Club, Manchester City Women’s Football Club, City in the Community, Manchester United Foundation and the Manchester Giants basketball team. The university’s academics feed cutting-edge knowledge into sport via their research as well as their direct work with Olympic and Paralympic medal-winning athletes

SiS’s partnership with Manchester Metropolitan University underscores its ongoing commitment to place world-class science at the centre of its global business, working with leading practitioners and scientists to develop evidence-based solutions and to demonstrate the efficacy of all the products it brings to market.

The partnership’s research programme involves embedding a PhD student, who will work alongside and be supervised by the university’s Dr Mark Hearris, lecturer in exercise metabolism and nutrition, and Dr Fiona Simpson, a specialist physicist in magnetic resonance spectroscopy.

Manchester Metropolitan University, set in a city with sport in its DNA, is a perfect match for SiS to continue its investment in supporting scientific research into sports nutrition and performance, hydration and recovery.

Sam Driver, Commercial Director of Performance Solutions at SiS, said: “We work with the world’s best sports teams and athletes, learning what they need to succeed before conducting world-class science and research to create and craft the products required for them to perform at their peak, across all endurance sports. I’m delighted we have signed a multi-year agreement with Manchester Met to demonstrate our commitment in this regard.”

Dr Mark Hearris, Lecturer in Exercise Metabolism and Nutrition at Manchester Metropolitan University, said: “We are truly excited to be partnering with SiS to support their commitment to deliver world-class research through their innovative research programme. With the increasing demand placed on athletes and their relentless competitive schedule, this partnership will focus on optimising athlete recovery to allow them to perform day after day.”

And Professor James Morton, Director of Performance Solutions at SiS, said: “SiS are proud to continue our longstanding commitment to science and innovation through a new strategic partnership with Dr Mark Hearris and Dr Fiona Simpson at Manchester Metropolitan University. It will allow us to continue our collaborations with global research centres of excellence in our pursuit of developing evidence based performance solutions to athletes. With a strategic focus on recovery, we believe this partnership will lead to exciting innovations that will allow athletes to optimise their recovery and truly achieve their full performance potential”.

To learn more about Science in Sport Plc, visit www.sisplc.com, and to shop their extensive range, visit www.scienceinsport.com.

Travel Counsellors’ Reports Soaring Sales for Second Consecutive Month With Growing Trend for Tailor-Made Travel

Olivia McHugh

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06/03/2023

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Following on from a record-breaking January – the UK’s largest and fast-growing technology platform for travel entrepreneurs, Travel Counsellors – has revealed it has smashed records for February, recording its best ever February, reaching £86.3m in global sales and £67.9m in UK sales, both up by 22 per cent from February 2022 figures. This takes overall sales figures for the year to date (from November 2022, start of Travel Counsellors financial year) to £323.6m.

In January and February alone, global holiday sales reached over £200m, with passenger numbers up by 43 per cent this year to date, compared with last year and 21 per cent higher than in 2019. Its UK Leisure (£50.6m) and Corporate (£17.3m) businesses are performing 72 per cent and 56 per cent better than pre-pandemic levels respectively, showing Brits are not given up on their 2023 travels and are attracted to the personal service and reassurance of booking with a trusted travel advisor.

More so, the company is reporting the continued growth in bookings via its own in-house platform Phenix, with sales up by more than 40% this year compared to pre-pandemic levels, enabling Travel Counsellor business owners to tailor-make and package itineraries for their customers, ultimately delivering an enhanced customer experience whilst having more control of the booking. Travel Counsellors in the leisure sector are attracting new customers 30 per cent faster than in 2022 and 2019 levels, with 122 TCs celebrating their biggest ever month in terms of sales for February. When booking a holiday customers are also enquiring about trips with a higher booking value, up by 13 per cent on 2022 figures for the year to date.

CEO, Steve Byrne, comments: “We are thrilled to see the continued demand from customers and clients for travel after such a busy January, and notably the growth in our own packages in Phenix as customers look for truly personalised and tailor-made experiences, with 75% of our sales in the premium leisure market. This reflects that customers are really valuing the added reassurance that their Travel Counsellor is there for them, has complete control of the booking and that they are fully financially protected.

“Our continued growth is testament to the amazing dedication and hard work of our Travel Counsellors and colleague community who are passionate about what they do. We will continue to focus on enhancing and building on the platform of support, technology, and tools to enable our business owners to operate their businesses and lifestyles in a way that suits them, whilst providing the most personal service to their customers, and enabling them to celebrate even more success in 2023.”

Whilst summer remains the main departure period, Travel Counsellors has reported a shift towards Winter 23/24 which is performing +90% ahead of the same point in 2019, representing consuming confidence in booking further ahead. Southeast Asia is also proving a popular destination for customers, with bucket list and multi-generational family group trips still a high priority.

Last year Travel Counsellors recorded a record-breaking year taking in over £800m in sales and welcoming over 150 new franchisees globally with the company trading 65% up on pre-pandemic levels in Q1 of its new financial year (1st November 2022 – 31st January 2023). This year the company will be investing £10m into its bespoke technology, attracting more talented professionals to build their own businesses using the company’s personal, digital platform and refreshing its brand.

For further information about Travel Counsellors, please visit: www.travelcounsellors.com

North West Office Occupiers Not Ready for April Energy Standards Deadline, Says Survey

Olivia McHugh

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06/03/2023

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Only a third of office occupiers in the North West know how energy efficient their office buildings are despite Minimum Energy Efficiency Standards (MEES) coming into effect from 1st April 2023 – says a new report by Irwin Mitchell.

The MEES legislation means that from 1 April 2023, property owners must not continue to let properties that have an EPC rating of F or G (unless they have an exemption) and all let properties will need to have a minimum EPC rating of E.

Despite the rules only being months away, Irwin Mitchell’s study – ’Redefining the Office – A report on office occupier trends’ – reveals that only 32% of the 500 UK office property decision makers questioned, said they know the Energy Performance Certificate (EPC) rating of their main office building. A similar percentage (31%) said they know what EPC rating their office needs to be in April.

In the North West, 33% said they knew the EPC rating of their main office building and only 24% said that they know what it needs to be.

Concerningly, just under a quarter (22%) of the property decision makers surveyed in the North West said they do not know their office’s EPC rating at all. Additionally, 9% of respondents in the North West said they do not understand EPC ratings.

According to Tim Rayner, Joint Head of Real Estate Disputes at Irwin Mitchell: “These figures should raise eyebrows, particularly given the changes come into force in April and with further new Minimum Energy Efficiency Standards (MEES) legislation down the line. For example, for all new tenancies beginning in 2025, the government is keen to change the minimum rating to a C.

“Office occupiers really need to keep an eye on the situation. Whilst the cost of upgrades is in theory an issue only for landlords, some landlords may prefer not to incur that costs at all and instead try and end the lease. Those landlords who intend to carry out the upgrades may not only want access to the premises and cause potentially significant disruption but may try and pass on the cost of the upgrading either via the service charge or by seeking to include additional obligations in new leases, making tenants expressly liable for such costs. The MEES deadline is fast approaching and therefore it’s important that tenants are forearmed and ensure, for instance that their leases provide the controls they need”.

The survey also revealed that a large number of businesses are on the move with many looking for higher quality space than they had previously. 65% of respondents in the North West, compared to 76% nationally, said they have either moved in the last 12 months or are considering moving now with 43% saying they either took on more office space in the last 12 months or plan to in the future. A fifth (22%) said they had reduced or are planning to reduce their space.

The main driver for change among businesses in the North West appears to be having greater flexibility in how and where they work (30%), followed by reducing energy bills and improving energy efficiency (24%) and thirdly to reduce rental costs (20%).

This is borne out in terms of the three most desirable aspects of space businesses wish to move to, with the highest vote in the North West going to flexible office space such as WeWork or Regus (39%) and space in a hub where there are other similar industries (31%).

28% of businesses in the North West also said they wish or plan to move to higher quality / Grade A space.

As Sarah Swann, Real Estate Transactions Senior Associate in Irwin Mitchell’s Manchester office added: “This demand is reflected in what we are seeing in the property markets today. As businesses adapt to new ways of working, try to entice workers back to the office and cope with higher energy costs they increasingly want higher grade space, better facilities and greater energy efficiencies in the buildings they occupy”.

Other key findings of the survey were:

76% of respondents in the North West said they’d be prepared to pay a higher rent for office space which reduces their organisation’s impact on the environment. This was lower than those respondents in Greater London (91%) and nationally (84%). However similar to elsewhere in the country, businesses in the North West wanted some reductions in their service charges to make up for paying higher rent.

46% of respondents in the North West (39% nationally) said the UK economic downturn was the biggest threat to their business in the next 12 months. This was followed by the threat of rising costs (43%) and inflation (41%). Interestingly 15% of respondents in the North West (and nationally) still saw the pandemic was still a threat.

Overall smaller companies across the UK are particularly worried by rising costs. Over half (56%) of respondents who work for a company with 10-49 employees said the biggest threat to their business in the next 12 months is rising costs, this is compared to a third (33%) of respondents who work for a company with 250-500 employees who said the same.

Only 7% of respondents in the North West said they had no particular worries in the next 12 months.

Northern Private Equity Activity Declines as Investor Caution Increases, but Optimism Emerges

Olivia McHugh

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06/03/2023

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KPMG’s most recent study of UK transactions involving mid-market Private Equity investors presented a cooling in the Northern deals market in 2022.

Over the span of the year 149 deals were completed, worth £9.3bn, reflecting a year-on-year decrease of 19.9 percent and 7.9 percent, respectively – according to new analysis from KPMG UK.

The picture for the overall UK Private Equity Mid-Market was similar, with the total value of deals down 12 percent to £46bn in 2022, and volumes down by 19 percent to 680.

However, despite the challenging conditions, the North of England retained its market share completing just over a fifth (22 per cent) of all transactions in the UK market. The North West remains the greatest driver for volume and value of deals in the North.

From a sector perspective across the UK, Business Services and Technology, Media and Telecommunications (TMT) took the top spots for M&A activity as they have done consistently for the last few years. Together they accounted for almost two thirds (63 percent) of all mid-market Private Equity deals in 2022.

Christian Mayo, Head of Corporate Finance in the North at KPMG, said: “The private equity mid-market saw a record year of activity in 2021 so it isn’t that surprising that deal volumes and values have cooled a little as the market normalises. Many across the Northern market saw buoyant activity at the start of last year but strong economic and geopolitical headwinds pumped the brakes a little on that momentum.

“Investors and business leaders have been monitoring closely how those conditions unfold and what the impact of high inflation, interest rates and the wider cost-of-living crisis might be. Such uncertainty breeds caution and inevitably put some mandates on ice.

Rick Stark, Head of Private Equity at KPMG in the North, said: “Considering all the factors at play in the economy, the decline in volumes and values we saw across the North wasn’t quite as dramatic as many expected. Furthermore, it is encouraging that the Northern market has retained a healthy share of activity that reflects the continued strength of the investment community here and the quality stable of ambitious, investable and attractive businesses that call the North home. With deal volumes and values comparing well in the North West and Yorkshire against pre-pandemic performance, there is a hint of optimism emerging that 2023 may be more stable and see some growth.”

Regional breakdown

North West

The North West accounted for just over a tenth (11.2 per cent) of the UK private equity mid-market making it the active market outside of London. The region saw 76 transactions in 2022, down nearly a quarter (23.2 per cent) from 99 in 2021. While the region also retained its position as the most valuable market outside of London combined deal values also fell from £5.4bn to 4.8bn. Compared to pre-pandemic levels, the North West’s mid-market activity volume and values were both up seven per cent.

Yorkshire & Humber

Yorkshire & Humber regained ground in the private equity mid-market increasing its market share of transactions to 8.4 per cent from 7.7 per cent over the past year. While the value of transactions in 2022 (£3.7bn) rose slightly against 2021 (£3.6bn) by two per cent, the volume of activity fell over the period from 65 to 57 (12.3 per cent decline). Compared to pre-pandemic levels, both volume and value are up (16.3 per cent and 14.6% respectively).

North East

The North East recorded 16 mid-market private equity transactions in 2022, down from 22 in 2021 (down 27.3 per cent). The combined value of deals also fell from £1.1bn to £0.8bn (down 16.4 per cent). The level of activity also saw the region lose some market share against other regions, now accounting for 2.4 per cent of the overall market, down from 2.6 per cent last year. Compared to pre-pandemic levels, deal volumes and values were also down (33.3 per cent and 42.9 per cent respectively).

Will M&A hold steady in 2023?

Christian Mayo added: “The future is always difficult to predict, however, there is a sense that expectations have adjusted and the situation is more stable than it was for most of 2022. Stability is key for investor confidence and decision-making, as it allows for factors like the availability and price of debt, consumer spending expectations or high energy prices to be priced into a deal. Access to funding is also crucial, and with the impact of economic headwinds weighing on cash generation and profitability, businesses looking to debt-fund transaction are likely to face increased scrutiny from lenders. Unlike the 2008 financial crisis, however, lenders and equity providers do have significant capital to deploy, but providers of capital will be selective, with more resilient businesses in sectors where there is a strategic imperative for change likely to be the beneficiaries.

Rick Stark concluded: “We may also see a boost in mid-market transaction levels as questions regarding the capital gains tax regime loom. Similar uncertainty over the last few years has weighed on private business owners, and owners who are mindful of noise around potential increases in CGT rates may be tempted to push the button and get a deal done sooner rather than later.

“With the general consensus now being that any recessionary environment will be less severe than previously assumed, the desire for growth and investment using M&A will likely be on the agenda for many. Private Equity firms still have considerable amounts of dry powder to deploy and at present there’s more money than there are deals on the table. Demand for lower-risk opportunities, such as bolt-ons and minority deals, and for businesses in robust sectors, will continue. It may be a tough road ahead for the country and for businesses, but those who can weather the storm by remaining agile, focused and as prepared as possible, will emerge well-placed to take advantage of future opportunities.”

After Raising £6 Million Series a to Drive the Development of Its Intelligent Contract Drafting Software, Henchman Sets New Precedent for Legal Documents

Olivia McHugh

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06/03/2023

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Legal tech company, Henchman, has recently announced that it has closed a £6 million Series A funding round to support continued company growth, and innovation in its platform that automates the search for relevant clauses and definitions when drafting legal contracts. The round is led by Adjacent VC and Acton Capital and joined by the London-based Conviction VC and several business angels (including the Founders of a Belgian success story, Showpad). Henchman’s funding follows its recent integration with GPT-3 and will be used to expand geographically and strengthen its innovation focus.

Legal professionals rarely start from a blank sheet of paper when drafting contracts or negotiating details with other parties. They usually reference existing documentation, for which they need to sift through countless old contracts or talk to colleagues to find suitable precedents that could be relevant to their case. Henchman solves this problem by automatically centralizing past clauses and definitions from any legal team’s contract database (whether law firm or corporate legal department) and delivering them intelligently within familiar Microsoft Word or Outlook environments.

Henchman helps lawyers and legal professionals to eliminate time consuming tasks and focus on adding value and expertise. “When everyone was still talking about ChatGPT, we already started implementing the technology in Henchman,” says Gilles Mattelin, Founder of Henchman. With the AI feature, lawyers can now use Henchman to enrich contracts with new suggestions, translations or grammatical adaptations.

The founders, Jorn Vanysacker, Gilles Mattelin and Wouter Van Respaille started working on their legal tech solution during the COVID-pandemic. Henchman has been on a remarkable trajectory since its launch in June 2021, experiencing rapid adoption and growth over the past year, achieving 750% revenue growth. Its team has grown from 12 to 35 employees. It has attracted 100 new customers across 15 different countries, including the UK with clients such as Avery Law and Marlborough House Partners.

“Today we have the all-star team, the drive and the entourage to maintain our technological lead in solving a universal problem for the legal profession,” states Jorn Vanysacker, Founder at Henchman. The company intends to use the injection of capital to stay ahead of the competition and enter new markets.

To make that happen, the company brought some new investors on board: Adjacent VC, which previously invested in companies such as BeReal, Revolut and Cowboy, and German Acton Capital, which previously funded Clio and Etsy, are taking the lead in this investment round, with participation from the British Conviction VC and several business angels, including Louis Jonckheere & Pieterjan Bouten (founders Showpad), Felix Van de Maele (founder Collibra) and Bram Couvreur (Partner at U.S.-based law firm Cooley).

“After a few reference calls it became clear that the power of Henchman is how perfectly the product fits into the legal professionals’ existing workflow. It is rare to see a SaaS company win international clients this early in its journey, but the teams’ customer obsession already drove adoption across Europe and in the US. I am excited to team up as we scale to the next level!” says Nico Wittenborn, Founder of Adjacent VC.

Louis Jonckheere, one of the private investors and founder of Showpad, is optimistic: “The legal profession is entering a new age with AI. I’m very bullish about Henchman’s ability to take a leading role in this transformation. They have the team, technology and traction to become a dominant global player.”

For more information about Henchman’s contract drafting and negotiation solution, visit henchman.io