iCONECT Secures Strategic Capital Funding Helping Lawyers tell ‘Their Winning Story’
iCONECT, a privately held 20-year industry leader in legal technology / ediscovery and makers of the award-winning XERA document review platform, today [August 8, 2019] announced a deal with NewField Capital Partners, a strategic partner who will fund continual growth and innovation for the company. NewField Capital Partners saw a strategic fit with iCONECT in a growing industry and are looking to capitalize on ediscovery industry opportunities.
“This financing helps us work toward some exciting new developments and expansion of sales and marketing resources,” said CEO Ian Campbell. “We have been profitable since day one as a company, so we have never really seen the need for external resources. NewField brings both capital and strategic vision toward growth. With a constant focus on innovation, we are well-positioned to take on the unique technical challenges in our industry.”
iCONECT’s award-winning proprietary cloud technology has empowered Fortune Global 500 corporations across any industry to create a secure central repository enabling worldwide access to organize and analyze billions of confidential documents through a visually rich and intuitive web-based interface, since 1999. With new Artificial Intelligence initiatives, iCONECT looks to create shifts in how reviewers will approach legal projects.
“We have been watching both iCONECT’s technology and the growth in the eDiscovery space for several years,” said Rob Bush, iCONECT board member, and partner at Newfield. “With the emerging opportunity in this space and a strong and experienced management team, we are confident that the impact on partners and end-users will be very positive, resulting in significant growth for iCONECT.”
Thom Wisinski of Haynes Boone in Dallas confirms this aligns with market need saying, “Law firms and vendors alike are looking for companies who understand the industry and have a forward-looking vision of how to deliver state of the art technology and innovation. That helps to tell a winning story.”
For more information, or to learn more about iCONECT contact us today. www.iCONECT.com
iCONECT software has been selected for use in some of the world’s largest high-profile projects such as the ENRON investigation, BP-Oilspill, NASA-Columbia Return to Flight, FDIC-900+ Banking Investigations and most recently the creation of a public access archive for the 30,000 JFK document and audio files released by the CIA. iCONECT was recently named one of the ‘30 Fastest Growing Tech Companies 2019’ by Silicon Review.
About NewField Capital Partners
Newfield Capital Partners, LLC is a private alternative investment firm that provides debt, equity and operational expertise to middle market companies around the world. Their experienced team has decades of expertise in multiple industries to help Owners, Board of Directors, and Senior Management Teams solve their complex problems and assist them in building great companies. Website: www.newfieldcap.com
Read the complete release at iCONECT Secures Strategic Capital Funding Helping Lawyers tell ‘Their Winning Story’
- An Abridged Look at the Business of eDiscovery: Mergers, Acquisitions, and Investments
- A Running List of Industry M&A+I-Related Announcements
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