SOURCE: Recommind

Recommind

August 23, 2011 12:30 ET

Axcelerate On-Demand Continues Triple-Digit Growth

Industry's Only Patented Predictive Coding Drives Adoption of Recommind's Hosted Solution for Document Review

SAN FRANCISCO, CA--(Marketwire - Aug 23, 2011) - Recommind, the leader in predictive information management, today announced continued rapid adoption of its Axcelerate On-Demand solution for early case assessment (ECA), review, analysis and production. Amid tightening regulatory deadlines and soaring volumes of corporate data, Axcelerate On-Demand continues to rapidly take market share from legacy offerings, experiencing 100 percent YOY revenue growth and a 250 percent increase in new cases from Q1 to Q2 2011 alone.

Axcelerate On-Demand's robust growth accelerated during Q2 when Recommind announced it had patented Predictive Coding. As the hosted version of the groundbreaking Axcelerate Review & Analysis offering, Axcelerate On-Demand offers the same powerful features, including Recommind's patented Predictive Coding technology and workflow, which reduces document review time and costs by 60 to 95 percent over traditional linear review. Axcelerate On-Demand also includes the industry's only automated sampling workflow, Predictive Sampling, which optimizes quality control and delivers the industry's most accurate, consistent and defensible review.

"Rising data volumes mean it's no longer possible for humans to eyeball every document in a case, thus the strong need for advanced document review solutions like predictive coding," said Katey Wood, Analyst at ESG. "As litigation and regulation increase and deadline pressures mount, we are likewise seeing a rapid move to solutions in the cloud. Recommind has positioned itself well on both fronts, as patenting predictive coding and making it available in the cloud has clearly led to rapid growth in new customers seeking Axcelerate On-Demand."

Enterprises and law firms turn to Axcelerate On-Demand when they need the utmost in automated review technology combined with the scalability and convenience of a hosted solution. Axcelerate On-Demand is the optimal choice in multiparty litigation, multilanguage proceedings, internal investigations and matters requiring extremely tight deadlines. It also provides an entry point for new and potential customers, allowing many to quickly quantify the benefits of Recommind's unique predictive technology before moving to an on-premises implementation.

"Many of the same trends driving Predictive Coding are also driving the move toward hosted eDiscovery services," said Robert Tennant, CEO, Recommind. "Global law firms and Fortune 500 enterprises need to react to litigation and regulation faster than ever, while reviewing more data than ever, often in collaboration with other legal and review teams. When speed and flexibility are at a premium -- as they increasingly are -- a hosted solution is often the preferred option. With Axcelerate On-Demand, customers get the best of both worlds: the industry's most advanced review technology and the convenience of offsite hosting. We've had an incredible response to our hosted offering, and I expect it to become the dominant review offering in the industry for years to come."

About Recommind Inc.
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, Marathon Oil, Morgan Lewis, US Department of Energy (DOE), White & Case and Wilmer Hale. Recommind is headquartered in San Francisco and has offices in Boston, London, Sydney and Bonn, Germany. For more information go to www.recommind.com

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