SOURCE: Recommind

Recommind

August 18, 2010 08:00 ET

Recommind Achieves Record Revenue Growth in 1H 2010, Unleashes CORE™ v8

Latest Version of Revolutionary Search and Automated Categorization Platform Fuels Record-Breaking Year; Recommind Revamps Product Lines to Meet Enterprise Demand

SAN FRANCISCO, CA--(Marketwire - August 18, 2010) - Recommind, the leader in predictive information management software, today announced record-breaking growth through the first half of 2010, with revenue increasing more than 300% over the first half of 2009. During the same time period, the total number of Recommind customers purchasing multiple or bundled products increased 500%. 

Recommind also announced the release of CORE™ v8, the latest version of the patented concept-based search and categorization platform that powers all of Recommind's eDiscovery and information access and governance solutions. CORE v8 adds powerful Predictive Analytics™ capabilities to each of Recommind's products, increasing the actionability and defensibility of information for eDiscovery, regulatory compliance, records management and knowledge management. 

The CORE (Context Optimized Relevancy Engine) platform is a fully automated information management layer that automatically understands content in context. Using the industry's most advanced and accurate concept-based search and categorization technology, CORE seamlessly and securely integrates structured and unstructured data. CORE v8's Predictive Analytics enable enterprises and law firms to identify patterns in data sets and to group, prioritize and assess documents before performing a single search. This greatly reduces the time and costs associated with finding, processing and analyzing corporate data.

"Most enterprises are challenged with identifying what information can be an asset, what is a potential liability and then managing each group appropriately," said Brian Babineau, senior analyst at Enterprise Strategy Group. "Recommind's CORE platform helps organizations find information faster and more efficiently and, depending on legal, regulatory or business requirements, take the appropriate action with it. Capabilities such as Predictive Coding and Predictive Analytics, which automate cumbersome electronic discovery tasks, are just two examples of how enhancements to the CORE platform solve an immediate need. The value of Recommind's continued innovation is reflected in their financial results, as customers are investing in technology solutions that address recurring information management pain points."

The release of CORE v8 and the rapid growth of the company's sales -- especially for multiple products to enterprise customers -- have prompted Recommind to organize its solutions into two distinct product lines: Axcelerate™ eDiscovery, an end-to-end eDiscovery suite for enterprises and law firms, including in-place early case assessment (ECA), automated collection, preservation, processing, review, analysis and production; and Decisiv™ Access & Governance, an integrated solution for enterprise search, categorization and e-mail management. Reflecting the needs and buying preferences of Recommind's enterprise and law firm customers, product groups will include fully integrated modules within each of the Axcelerate and Decisiv product families:

Axcelerate™ eDiscovery:

  • Axcelerate™ ECA & Collection
    The industry's only ECA, preservation and collection tool that can determine potential risks and costs before a single piece of content is collected
  • Axcelerate™ Review & Analysis
    Dramatically improves the speed and accuracy and reduces the overall cost of eDiscovery by automatically prioritizing and coding documents based on their responsiveness, privilege and issue relation

Decisiv™ Access & Governance:

  • Decisiv™ Categorization
    Reduces storage, data center and eDiscovery costs by automatically categorizing and tagging both legacy data and new data as it is created, making information easier to identify, use, manage and delete
  • Decisiv™ Email Management
    Automates the categorization and filing of e-mail, mitigating risk and making e-mail-based information actionable
  • Decisiv™ Search
    Combines sophisticated, concept-based search technology with a simple user interface to provide highly accurate results that are tailored to the information requirements of the organization and its individual users

"This is an important and exciting time in Recommind's history. We're seeing tremendous growth and demand across all products, exceeding even our most aggressive sales projections," said Bob Tennant, CEO, Recommind. "The eDiscovery and information management landscapes have changed dramatically over the last 18 months, with data volumes increasing both inside, and now outside, the enterprise in social networking applications, and regulations such as the Dodd-Frank financial reform bill spurring new concerns about corporate risk. As a result, enterprises are changing the ways they think about and approach eDiscovery and information management. We're evolving our product lines to reflect that discussion and make our technology more accessible and navigable to a wider audience."

About Recommind
Recommind is the leader in predictive information management software, delivering search-powered business applications that transform the way enterprises, government entities and law firms conduct eDiscovery, enterprise search and information governance. Recommind's solutions are all built on the CORE (Context Optimized Relevancy Engine) platform, which automatically accesses, organizes and analyzes large volumes of information in context from myriad sources. With greater control over and more accurate access to information, organizations can lower risk, heighten productivity, increase the value of information assets and improve competitiveness and profitability. Recommind customers include AstraZeneca, BMW, Cisco, Clifford Chance, DuPont, Marathon Oil, Morgan Lewis, Nationwide Insurance, US Department of Energy (DOE), White & Case and Wilmer Hale. Recommind is headquartered in San Francisco and has offices in New York, Atlanta, Boston, Chicago, Washington, D.C., London and Bonn, Germany. For more information, e-mail info@recommind.com or go to www.recommind.com

Contact Information

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    Christine Huynh
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