RenewData Acquires Digital Mandate

Austin-based RenewData, a leading provider of services for the discovery, archiving, and governance of electronically stored information (ESI), today announced it has successfully completed an acquisition of Digital Mandate, provider of discovery lifecycle management solutions including Vestigate document review software. This acquisition further strengthens RenewData’s commitment to investing in technology that delivers market leading information governance solutions, significantly lowers costs to clients, and meets requirements for both legal and IT professionals. To support the acquisition and other growth initiatives, existing investors ABS Capital Partners and CIBC Capital Partners provided the equity financing.

“With the acquisition of Digital Mandate, we are able to further extend our eDiscovery offerings, significantly lower costs for clients, and meet significant requirements for both legal and IT professionals. The acquisition will also add new jobs here in Austin despite the current economic climate. We’re excited to be bringing on the exceptional Digital Mandate team and Vestigate technology platform both of which will give RenewData tremendous opportunity for growth in the market,” said Steve Horan, CEO of RenewData.

“With review being the most significant portion of the growing costs of eDiscovery, law firms, corporations, and government agencies are continually searching for more efficient and accurate methods for review,” said George Socha of Socha Consulting. “Leveraging advanced analytics to more quickly identify relevant data, as well as utilizing sampling to measure the accuracy of results are logical next steps to helping organizations achieve these lofty objectives.”

“We’re excited about being a part of the RenewData team and the opportunity to integrate two great organizations,” said Greg Osinoff, CEO and Founder of Digital Mandate. “I am extremely impressed with RenewData’s understanding of the market and technology vision. This acquisition greatly benefits both RenewData and previous Digital Mandate clients, as it enables us to offer comprehensive solutions. Vestigate has already enabled numerous clients to greatly reduce their review time and costs, and being part of RenewData will enable us to really drive this value proposition further into the market through a larger, scalable, and more integrated platform.”

The Vestigate solution is particularly beneficial for early case assessment (ECA) and first-pass review, which is often the best opportunity for lowering eDiscovery costs.

Posted by Bryan Menell http://austinstartup.com Bryan is the founder and Editorial Director of AustinStartup.com, which launched in 2005. He is currently the Director of the Collaboratory at venture-funded Dachis Group. Bryan advises a handful of early stage companies and is a Managing Director of Capital Factory. To read more posts click here.