Tech City law firm Temple Bright has advised uFlexReward on its launch as a spin-out from Unilever.
uFlexReward is a software tool for businesses. Its purpose is to unify, manage and facilitate reward schemes between employers and employees. The tool has been developed at Unilever over a seven year period prior to its commercialisation through uFlexReward.
uFlexReward’s mission statement is twofold: to offer flexibility to employees by personalising reward to their individual life needs, and to provide employers with insight and clarity through digitisation and consolidation of all reward into a single, real-time, integrated global environment.
uFlexReward CEO Ken Charman said: “After a long period of development, user-testing and refinement, we are delighted to have launched uFlexReward as a standalone business. We have had unfailing support from Unilever and it has been a pleasure to bring uFlexReward into existence. The initial user response has been hugely positive and we are looking forward to rolling this out among customers.”
COO Phil Toohey added: “uFlexReward’s innovative technology has transformative potential for companies and after an arduous but exciting journey we are now in a position to promote this product to the market. We are already well advanced in discussions with a number of substantial prospects and the future looks very bright indeed.”
James Vickerman, corporate partner at Temple Bright, said: “It has been a privilege to work with uFlexReward on its establishment and on its ongoing commercial requirements. We will watch with great interest as the business extends its reach among large corporate customers who stand to benefit from this technology.”
Temple Bright was established in 2010 using a tech-enabled, streamlined business model and now has 67 partners with offices in London and Bristol. The firm has a focus on corporate finance work across a range of sectors, with a particular emphasis on technology.
Co-founder Tim Summers said: “We are delighted to be advising such a cutting edge tech business and this is a further validation of our decision to prioritise this sector when launching in London several years ago. The capital remains a thriving global hub for tech firms and it looks like uFlexReward is in pole position to do great things in the months and years to come.”