National law firm Shoosmiths has advised screenlimit Limited, developers of the screen-time limiting application, on its recent angel investment round.
Screenlimit (www.screenlimit.net/ss) is a downloadable software that allows parents to remotely control the amount of time their children spend on various devices. The application allows parents to instantly block, schedule times of the day when devices are inactive, allow or block specific apps, reward good behaviour and direct message from a smartphone, tablet or webs browser.
The £150,000 secured from the angel investors will help further develop the product functionalities and bolster business development through marketing, content creation, strategic partnerships. Investors included a member of the Henley Business Angels.
The only fully cross-platform app of its type working on iOS, Android and Amazon devices along with Windows PCs, screenLimit uses a synchronized timer that ensures a child cannot exceed its daily screen-time limit by switching between devices.
The Shoosmiths corporate team was led by partner Rachel Turner, who has significant experience advising clients in the technology sector on SEIS and EIS investment rounds, particularly within the Thames Valley region.
Jeremy Drayton, CEO of screenlimit, commented: "We are extremely pleased to have successfully completed this SEIS investment round and look forward to using the capital to expand our market reach and further develop our unique product. Rachel has provided us with commercially astute legal advice that ensured the efficient completion of the investment round."
Rachel Turner added: "I am delighted to have been involved in this significant step forward in screenlimit's growth strategy and believe that the demand for this technology will increase dramatically as the effects of unlimited internet access on children and young adults are better understood."
Shoosmiths LLP is one of the most active UK law firms in the area of advanced manufacturing and tech start-ups, acting for founders, investors, funders, and research organisations, who look to the firm for VCT, EIS and SEIS tax advice, IP and commercialisation. Shoosmiths was recently 'Highly Commended' in the EIS Awards 2017 and was a finalist at the Investor Allstar Awards 2016.
Nationally, the corporate team is ranked in first place by deal volume in Experian's 2016 MarketIQ UK & Ireland M&A league tables. The team was recognised for its mergers and acquisitions expertise at the 2015 M&A Awards, winning the Law Firm of the Year category.