SAN FRANCISCO, CA, Logikcull, the legal intelligence company that is transforming everything from eDiscovery and internal investigations to due diligence and FOIA response, announced that it has raised $10 million.
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The round was led by OpenView with participation from existing investor Storm Ventures. In the event of litigation, internal investigations or open records and subpoena response, Logikcull makes it simple and affordable for anyone to quickly find what's in data -- from anywhere, at any time on any device.
'OpenView and Storm Ventures have a great track record helping enterprise-focused tech companies with clear missions grow fast,' said Logikcull CEO Andy Wilson. 'We want to win this market so we can bring the benefits of legal intelligence to the millions of legal and compliance professionals who struggle to overcome the challenges of big data, and to parties who otherwise can't afford to pursue just resolutions to disputes due to their cost and complexity.'
eDiscovery and other data-intensive legal processes can be highly complicated and expensive. At the same time, the legacy software that has developed to address legal and compliance needs has largely failed to meet the challenges associated with the rise in data volumes. As a consequence, the costs associated with litigation, investigations and related processes have soared, and parties without the funds and technical knowledge to adequately conduct discovery have been stifled from pursuing just resolutions to legal disputes.
'The absurd cost of litigation and corporate compliance today is in large part attributable to the complexity and unpredictability of discovery and other data-intensive processes,' said Saastr Fund's Jason Lemkin, a member of the Logikcull Board of Directors and the company's first investor. 'Logikcull is fundamentally changing how those processes are performed with user-friendly technology that promotes powerful simplicity.'
Logikcull's cloud-based legal intelligence platform automates more than 3,000 steps that are essential to preparing data and documents for review by legal and compliance professionals. Once data is uploaded to the system, it can be easily searched with Logikcull's Culling Intelligence search engine, which approximates the experience of online shopping, and then shared with other parties.
'Logikcull is helping legal teams take back control and level the playing field, while saving tremendous amounts of time and resources that have been wasted due to obsolete technology. It was a no-brainer to get involved and help them propagate their long-overdue solution to these major problems facing the legal community,' said Storm Ventures Managing Director Alex Mendez.
Until now, companies have had to outsource most legal search tasks to third parties, like law firms and vendors, who often aren't equipped to securely handle their data, exposing them to risk. Logikcull's user-friendly and secure interface empowers legal and compliance personnel to take control of these processes. This results in massive time and cost savings, and eliminates much of the risk typically associated with eDiscovery and other data-intensive projects.
To learn more about legal intelligence, visit logikcull.com.
Based in San Francisco, Logikcull is the leading provider of legal intelligence software. It is the only pure cloud-based solution for collaborative searching and sharing of information in litigation, investigations, due diligence, and M&A, and has become known for its powerfully simple platform that can be used by anyone anywhere at any time. Founded in 2004 by Wilson and CTO Sheng Yang, its happy customers include Veolia, Williams Companies, Vinson & Elkins, Fisher & Phillips, the City of Chicago and many more.
OpenView, the expansion stage venture firm, helps build software companies into market leaders. Through our Expansion Platform, we help companies hire the best talent, acquire and retain the right customers and partner with industry leaders so they can dominate their markets. Our focus on the expansion stage makes us uniquely suited to provide truly tailored operational support to our portfolio companies. Learn more about OpenView at openviewpartners.com.