Cash injection courtesy of entrepreneurs group
A virtual law firm set up by a former White & Case associate has received financial backing to further accelerate its growth.
Tom Bohills, who trained and qualified in W&C’s London office before make the move in-house, set up Chronos Law in 2019 with a focus on helping tech start-ups. The virtual offering seeks to break the traditional law firm mould by offering profit sharing, no target hours and allowing its lawyers to permanently work from home.
The firm has now received financial backing from British entrepreneur Brent Hoberman’s Founders Forum Group. Hoberman, co-founder of lastminute.com and MADE.com, established the group as a community for fellow entrepreneurs.
With the group’s financial backing, Chronos will rebrand as Founders Law and become part of the Founders Forum’s professional services offering.
Commenting on the deal, Bohills said:
“Most tech businesses require flexible legal services that don’t fit the traditional law firm model. I designed the firm to scale with the ambitious startups we support. This new investment will enable us to further recruit and satisfy the growing demand from the tech sector and its need for a new way to access legal advice.”
He added: “Lawyers have and will continue to receive quarterly profit share, no billing targets and complete choice of working from home or office.”