“We are very proud of ayfie’s excellent development since the initial round of funding. ayfie is solving problems that other less sophisticated systems cannot,” says Erik Baklid, CEO of ayfie. He adds: “The funding supports with power the achievement of our next business milestones taking full advantage of the momentum we’ve created.”
“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.”
“We are excited about our new partnership with Driven and its management team,” said Matt Darrah, Principal of Capital Southwest. “We are impressed by Driven’s management team and its ability to drive cost out of litigation and to serve its law firm and corporate clients effectively. Driven has developed the tools and products needed to support the growing volume and complexity associated with the eDiscovery market.”
Bob Polus, XDD President and CEO states, “As we continue to explore, expand and scale business operations within key markets nationwide, merging forces with QDiscovery further strengthens our presence in the Midwest and on the east coast. Congruent with XDD’s culture, the QDiscovery team thrives on providing exemplary client service, making it a natural fit for our company as we continue to scale our eDiscovery, forensics and managed review services. We look forward to enhancing our company together.”
Text IQ has developed a suite of AI solutions to help enterprises find sensitive information in near real-time, greatly improving upon traditional manual processes. Text IQ’s AI solutions identify sensitive information at 10 times the speed and 4 times less cost than traditional methods – along with reducing the risk of missing sensitive information by over 50%.
“Elevate now provides services to over one hundred Global 1000 corporations and over twenty global law firms,” says Brown. “This reflects the accelerating trend for law departments, law firms, and law companies to work together to more efficiently meet the growing legal demands in the business world. Our AI-powered enterprise legal management software platform supports process transformation for some of the most innovative global companies and law firms in the world.”
“As we continue our growth journey in the Digital Intelligence market, we identified the need to add a strategic partner that will support our long-term vision and our commitment to our customers,” commented Yossi Carmil, Global Co-CEO of Cellebrite. “We are pleased to announce that after careful consideration through a rigorous process we were able to successfully structure a long-term partnership with IGP.”
“Globally organizations are facing exponential data growth, combined with increasing complexity in security and data privacy. Organizations are not well equipped to derive the financial benefits available from effective information governance, and they continue to face expensive penalties and loss of financial value as long as the IG technology gap exists,” says Bhargav Kotadia, managing director, Sahajanand Group. “We have invested in Infinnium with a long-term outlook. We believe that Infinnium has the strategic vision and groundbreaking AI solutions to lead the coming transformation in information governance and data privacy.”
The main opportunity to push for greater innovation and to draw on specialist capabilities obviously comes at contract time, and there is good news here. To keep up with rapidly changing technology requirements, corporate buyers have been trimming the sourcing cycle. The average contract length for IT and BPO deals shrunk from 4.8 years in 2007 to 4.3 years in 2017, according to IDC, and we expect it will settle at slightly more than 4 years.
Spire Capital today announced that it has closed on the sale of Lighthouse Global, a leading technology-enabled eDiscovery and advisory services business. Financial terms were not disclosed. Macquarie Group acted as exclusive financial advisor to Spire Capital and Lighthouse. Dentons served as legal counsel to Spire Capital and Lighthouse.