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Content Assessment: Vendor Voices in eDiscovery: From AI-Enabled Discovery to Industry Announcements and Investments
Information - 92%
Insight - 90%
Relevance - 91%
Objectivity - 93%
Authority - 92%
92%
Excellent
A short percentage-based assessment of the qualitative benefit of the recent Vendor Voices in eDiscovery update on selected industry press announcement and articles as highlighted by ComplexDiscovery.
Editor’s Note: From time to time, ComplexDiscovery highlights publicly available or privately purchasable announcements, content updates, and research from cyber, data, and legal discovery providers, research organizations, and ComplexDiscovery community members. While ComplexDiscovery regularly highlights this information, it does not assume any responsibility for content assertions.
Contact us today to submit recommendations for consideration and inclusion in ComplexDiscovery’s data and legal discovery-centric service, product, or research announcements.
Background Note: Welcome to “Vendor Voices in eDiscovery,” a regular and trusted waypoint within the rapidly changing landscape of eDiscovery. Here, we carefully curate and distill the core essence of recent press releases and articles from selected vendors that are integral to this continually evolving ecosystem. In each Vendor Voices segment, we strive to present concise summaries, key insights, and emerging industry trends, enabling you to hear directly from the source – the eDiscovery vendors themselves. Our aim is to cut through the noise of the bustling eDiscovery domain, extracting relevant details and transforming them into an easily digestible format. Regardless of whether you’re a seasoned eDiscovery veteran navigating the shifting sands of the industry, or a newcomer trying to get your bearings in this complex landscape, “Vendor Voices in eDiscovery” serves as your dependable resource.
In the multifaceted world of eDiscovery, the deluge of information can be overwhelming, and while we at ComplexDiscovery strive to provide comprehensive coverage, it’s impossible to spotlight every new development. That’s why we offer resources like ‘Vendor Voices in eDiscovery.’ This resource offers a curated approach, selecting and distilling vendor announcements of particular interest, and providing professionals with selected waypoints to navigate shifting landscape terrains. We hope it is a valuable addition to the broader eDiscovery conversation. – ComplexDiscovery
July 25, 2023 Update
Vendor Voices in eDiscovery: From Remote Collection and New Business Models to Pricing, Partnerships, and Promotions
ComplexDiscovery Staff
A Higher Calling? Enhancing Legal and Business Operations in Higher Education with L2 Services
L2 Services stands as a leading provider of eDiscovery, litigation support, and business support services, offering customized solutions specifically tailored for institutions of higher learning. With a deep understanding of the unique challenges faced by these institutions, L2 Services leverages advanced technologies and proven methodologies to help universities and colleges navigate the complexities of today’s data-driven landscape. Whether it’s managing electronically stored information, assisting at every stage of the litigation process, or streamlining administrative tasks, L2 Services is a proven provider for delivering comprehensive and efficient support to enhance higher education institutions’ legal and business operations.
AI-Enabled Sensitive Data Management: Introducing HaystackID’s Protect Analytics AI for Relativity
HaystackID® is a leading eDiscovery services firm renowned for its comprehensive solutions in sensitive data management. With a focus on cyberdiscovery, information governance, and legal discovery, HaystackID has developed Protect Analytics AI™ for Relativity, an AI-enabled toolset that transforms the way organizations handle vast amounts of data containing sensitive information. By seamlessly integrating advanced AI capabilities, interactive visualizations, customizable risk categories, and a sensitive data density score, HaystackID empowers professionals to efficiently identify, classify, and safeguard sensitive data. Their unwavering commitment to innovation and delivering top-tier solutions has positioned HaystackID as a trusted service provider, enabling organizations to navigate the intricacies of data protection and discovery in today’s digital landscape.
AI Innovator Fileread Secures $6 Million Investment to Reinvent Legal Discovery Process
In a significant development in the legal tech sector, Fileread, an innovative startup specializing in the application of advanced language learning models (LLMs), has successfully secured a $6 million investment in its seed funding round. The investment was spearheaded by Gradient Ventures, a fund with a strong focus on AI technology, backed by Google, and also saw participation from Soma Capital.
AI Strikes Again? Thomson Reuters Makes a $650M Move to Acquire Legal Tech Company Casetext
Thomson Reuters Corporation has announced a definitive agreement to acquire California-based legal tech firm Casetext for $650 million. The acquisition is aligned with Thomson Reuters’ ongoing AI initiatives and commitment to investing $100 million annually on AI capabilities. Casetext, with over 10,000 law firms and corporate legal departments as clients, employs AI and machine learning to build efficient solutions for legal professionals. Notably, it has early access to OpenAI’s GPT-4 model and has developed a successful AI legal assistant, CoCounsel. The acquisition aims to expand and speed up Thomson Reuters’ generative AI solutions, reshaping how professionals work. The transaction is expected to be completed in the second half of 2023, subject to regulatory approvals.
Analyzing CJK Languages in eDiscovery? An Update on KIBIT AI from FRONTEO
In the rapidly evolving world of legal technology, one name that has been making waves is FRONTEO, a Japan-headquartered global technology organization. For nearly two decades, FRONTEO has been at the forefront of integrating artificial intelligence (AI) into business and legal operations. Their flagship product, the KIBIT AI engine, has been a game-changer in the field, especially in the realm of electronic discovery (eDiscovery).
The KIBIT AI engine, in use by a multitude of large corporate and law firm clients since 2012, has undergone multiple significant upgrades in recent years. The engine is designed to handle the complexities of Chinese, Japanese, and Korean (CJK) languages, making it an invaluable tool for APAC clients. As cross-border litigation becomes increasingly common, the ability to effectively navigate the nuances of these languages is a critical advantage.
Considering eDiscovery investment in emerging markets
The article titled Tracing the Path of eDiscovery M&A Activity and Market Growth Trajectory and Its Implications for Europe’s Emerging Markets serves as a concise roadmap for stakeholders contemplating investments in eDiscovery in emerging markets, particularly in Europe.
By illuminating the patterns of merger, acquisition, and investment (M&A+I) activities and analysing market growth trajectories, this piece offers vital insights into the resilience, adaptability, and burgeoning potential of the eDiscovery sector, a field devoted to identifying, collecting, and managing electronically stored information relevant to legal proceedings and investigations.
Cruelty-Free e-Discovery? Recently Funded Beagle with its AI-Native Platform may be Shaping the Future of eDiscovery
Beagle™, an AI-native platform for eDiscovery, has raised $430K at an $8M valuation. The platform simplifies the processes of document collection, analysis, and exchange within legal disputes and investigations. It was founded in 2021 by Sergey Demyanov, Maksim Ivanov, and a third co-founder. The platform uses AI capabilities powered by the latest LLMs to maximize review efficiency and minimize user frustration. The goal of Beagle is to make real lawyering the focus of attorneys and not tedious categorization tasks that AI can do more quickly and accurately.
eDiscovery in the USA: The 2023 Chambers Litigation Support Guide
Since its inception in 1989, Chambers and Partners has dedicated itself to delivering comprehensive rankings and insights into the world’s leading lawyers, legal departments, and law firms. Today, Chambers and Partners’ independent, research-led approach is recognized as the benchmark in over 70 countries and 200 jurisdictions globally, offering the most respected legal rankings.
In line with its tradition of excellence, Chambers and Partners has announced the release of the 2023 Litigation Support Guide for the USA today. This guide includes the latest rankings of eDiscovery organizations and lawyers.
Everlaw Unveils Everlaw AI Assistant Powered by Generative AI to Give Legal Teams a Jump Start on Document Review and Writing
Everlaw, the cloud-native investigation and litigation platform, today announced its EverlawAI portfolio with newly released generative AI features available in a beta program to give legal teams an instant leg-up in text-based work and greater productivity across legal workflows within its trusted and highly secure platform.
Exterro and ModeOne Announce Global Strategic Partnership
Exterro Inc., (“Exterro”), the preferred provider of Legal GRC software specifically designed for in-house legal, privacy, and IT teams at Global 2000 and AmLaw 200 organizations, and ModeOne Technologies, Inc. (“ModeOne”), the creator of a revolutionary, patented SaaS framework that automates the remote, targeted collection of smartphone data for litigation, compliance, and investigation purposes, announced today a strategic technology partnership. With this partnership, Exterro customers will now have access to ModeOne’s Smartphone Framework OEM, unlocking the only cloud-based product in the market that can target business-related data stored on Apple iOS and Android smartphones, remotely, and within hours, not days or weeks.
LLM Shields Up? Patented.ai’s Breakthrough Solution for AI-Induced Data Leak Protection
Patented.ai, a leading intellectual property software company, has announced that it has secured $4 million in pre-seed funding. Alongside this funding, the company has released the personal version of LLM Shield, a tool designed to protect against AI-induced data leaks. LLM Shield allows individuals and companies to filter data before it goes into large language models (LLMs), ensuring the protection of sensitive information such as personal identifying information and trade secrets. The funding round was led by notable investors, including Steve Anderson of Baseline Ventures and Nicole Stata of Boston Seed Capital. The personal version of LLM Shield is now available for free for up to three devices.
Meet DISCO Cecilia: Your AI Partner for Efficient Legal Discovery
DISCO, a pioneer in AI-based legal technology, has announced that their AI tool for large-scale eDiscovery, DISCO Cecilia, is now live and integrated into select client databases, available for private access. The technology permits lawyers to ask natural language questions and receive answers complete with evidence citations, sourced directly from their private eDiscovery databases. By utilizing a combination of proprietary technology including natural language processing, generative AI, and advanced search capabilities, Cecilia promises a more efficient review process and quicker access to facts. DISCO is planning a phased rollout with commercial availability in the U.S. expected in 2023.
Proteus Discovery Group Establishes Pro Bono Hosting Partnership through Relativity’s Justice for Change
Proteus Discovery Group, a litigator-led eDiscovery services and consulting provider, today announced its designation as a Hosting Partner with Relativity’s Justice for Change program. This partnership enables Proteus to provide hosting, administrative and project management support to grant recipient organizations in their use of RelativityOne.
“We are proud to partner with Relativity and the Northwest Justice Project,” said Ryan Short, Vice President of Revenue. “Justice for Change is a fantastic way for the eDiscovery community to contribute time, talent, and treasure in support of vulnerable individuals protecting their civil rights.”
Redefining the Future of Review? HaystackID® Unveils Direct Online Access to Global Document Reviewer Marketplace
HaystackID®, a specialized eDiscovery services provider, has launched online access to its ReviewRight Global Document Reviewer Marketplace. The new portal allows cybersecurity and legal discovery document reviewers to directly connect with the industry. The platform, supported by over 25,000 legal professionals, offers registered reviewers the opportunity to be part of a rigorous screening, evaluation, and testing program, aligning their document review experience skills with the best opportunities and rates for industry review projects.
RF Investment Partners Adds to its Expanding Software Portfolio with Investment in Legal Tech Company Nextpoint
RF Investment Partners (“RF”), a provider of structured growth capital, is pleased to announce a growth capital investment in Nextpoint, a founder-led cloud-based platform offering full-service legal tech solutions and litigation services for discovery and case preparation.
Founded in 2001 and headquartered in Chicago, Nextpoint’s mission is to simplify and bring efficiency to the litigation process by providing powerful, easy-to-use, affordable technology solutions for law firms and legal departments of all sizes. The company offers a flexible pricing model and a wide range of high-performance software suites — such as Data Mining, Discovery, and Litigation – to clients nationwide.
Short and Sweet? EDRM Releases Short Message Metadata Primer to Address eDiscovery Challenges
The Electronic Discovery Reference Model (EDRM) has released the Short Message Metadata Primer, a valuable resource for cybersecurity, information governance, and eDiscovery professionals. This primer focuses on addressing the unique challenges presented by short message communications, such as text messaging and instant messaging, in the field of eDiscovery. It provides comprehensive insights into metadata properties across popular short message applications, aiming to promote clarity, uniformity, and better understanding for legal practitioners and their clients.
Summer 2023 eDiscovery Business Confidence Survey provides global insights with relevance for emerging European nations and industry professionals
ComplexDiscovery, an online publication renowned for delivering critical insights and intelligence in the realms of cybersecurity, information governance, and legal discovery, has released its Summer 2023 eDiscovery Business Confidence Survey.
While the majority of respondents are North American, the survey’s findings carry global significance, providing critical insights for eDiscovery professionals worldwide, including those in emerging European nations.
Key insights from the Summer 2023 survey reveal that 50 per cent of respondents rated current business conditions as Good, with 54.93 per cent expecting improvement within the next six months.
The Dance of eDiscovery? Operational Metrics and Financial Outcomes from the Summer 2023 Business Confidence Survey
In the Summer of 2023, the eDiscovery Business Confidence Survey offered insightful trends related to pivotal operational metrics, providing a comprehensive understanding of the industry’s financial health and potential trajectories. The survey examined three vital parameters: Days Sales Outstanding (DSO), Monthly Recurring Revenue (MRR), and the Distribution of Revenue Across the Customer Base. These metrics shed light on the state of financial management, consistent revenue generation, and customer revenue diversification within the eDiscovery ecosystem.
UnitedLex Unveils $10M Innovation Program to Develop and Incubate Next Gen Legal Data Offerings
UnitedLex, a leading data and professional services company specializing in litigation, intellectual property, contracts, compliance, and legal operations, announces the formal launch of an innovation center designed to incubate new ideas and build and pressure test capabilities across legal. Aaron Crews, recently appointed as Chief Product and Innovation Officer, will lead this strategic initiative focused on taking the best ideas from employees, clients, and the broader market from proof of concept to productization.
The multiyear financial commitment, with $10 million earmarked, will expand UnitedLex’s data science capabilities in an environment increasingly led by pragmatism. The company will assess and license impactful technologies, internally ideate and develop data assets and applications, and invest in and partner with up-and-coming AI and big data companies that will shape the future of legal services.
X-Road 7.3.0 Unpacked: Examining the Central Server Transformation and Introduction of a REST API
The Nordic Institute for Interoperability Solutions (NIIS) is an organization founded by Estonia and Finland with the goal of developing e-governance solutions, including the X-Road data exchange layer. X-Road is a free and open-source data exchange layer solution that enables secure internet-based data exchange between information systems. Recently NIIS highlighted X-Road 7.3.0, a transformational release of a proven product.
ComplexDiscovery is a premier online publication renowned for providing essential insights and intelligence in the realms of cybersecurity, information governance, and legal discovery to professionals navigating these fields. Learn more today at ComplexDiscovery.com.
Assisted by GAI and LLM Technologies
Previous Vendor Voice Updates
- Vendor Voices in eDiscovery: From Remote Collection and New Business Models to Pricing, Partnerships, and Promotions (complexdiscovery.com) (June 16, 2023)
- Vendor Voices in eDiscovery: From New Zealand and London to AI and Investigations (complexdiscovery.com) (May 18, 2023)
Additional Reading
- eDisclosure Systems Buyers Guide – Online Knowledge Base
- A Running List: Top 100+ eDiscovery Providers
Source: ComplexDiscovery
