MetaLINCS Secures $8.75 Million Funding; Pioneer in Electronic Discovery Software Taps into Multi-Billion Dollar Market.
As part of this financing event, Trevor Kienzle, general partner at Newbury Ventures and Tom Bevilacqua, managing partner at ArrowPath Venture Partners, have joined the MetaLINCS Board of Directors. The company was incubated by Rembrandt Venture Partners. Richard Ling, general partner at Rembrandt Venture Partners, remains chairman of the board of MetaLINCS.
"When we looked at the Electronic Discovery market, we saw a real void in terms of a software product that can aid legal teams in searching and analyzing electronic message repositories, such as e-mail archives," said Trevor Kienzle, general partner at Newbury Ventures. "Until now the Electronic Discovery market has been largely addressed by service providers, with much of the analysis work manual and as a result, somewhat hit or miss. There is a tremendous opportunity to offer software solutions that deliver speed, accuracy and consistency that cannot be matched by manual processes. MetaLINCS offers an analysis product that can dramatically improve the success of investigations involving electronic messages while lowering discovery costs."
The growing demand for Electronic Discovery products and services has been identified by Socha Consulting as fueling a market, which is growing at more than 50% per year and anticipated to reach $1.9 billion in 2006. Email has become both the primary source of important information and an increasing potential liability for most organizations. According to a survey (September 2003) conducted by AIM International and Kahn Consulting, contract negotiations, strategy discussions, and customer responses are among the top uses of email in corporate communications. The increased prominence of corporate email has given rise for the need to quickly find relevant information within electronic communication in order to support litigation and respond to regulatory or internal investigations.
"Email has become the predominant means of communication within and outside corporate walls," said Ramon Nunez, chief executive officer of MetaLINCS. "Corporate email repositories have created 'knowledge banks' of information that are continually captured, but not effectively utilized. We believe that the effective analysis of electronic messages is key to mitigating the rising costs of litigation, ensuring efficient response to regulatory requests, and instrumental in corporate learning."
"MetaLINCS has an exceptionally strong, experienced management team," said Tom Bevilacqua, managing partner at ArrowPath Venture Partners. "This team has the business skills and relevant domain expertise necessary to take full advantage of the market opportunity emerging for Electronic Discovery software."
Founded in 2003, MetaLINCS is a pioneer in Electronic Discovery software, the company is developing innovative eMessage analysis software and other Electronic Discovery applications that can dramatically improve the success of investigations, lower discovery costs, and reduce corporate liability. MetaLINCS is a privately held company located in Mountain View, California and has received venture financing from ArrowPath Venture Partners, Newbury Ventures and Rembrandt Venture Partners.
About Newbury Ventures
Newbury Ventures was founded in 1992 with the goal of building a company known for its insight, integrity and global approach to the business of venture capital. Newbury has successfully managed investments valued over $500 million throughout the world. The firm typically invests in high growth markets within the technology, communications and IT industries. Newbury's partners have been involved with many successful companies including Oracle, Cadence, Altera, Cirrus Logic, Atmel, PMC/Sierra, Broderbund, Nellcor, Acuson, Jacada, Fundtech Ltd., Netro, ACC, Precise, Corvis, Terayon, nCipher, Okena, Highwave Optical, and LEA (Laboratoire Europeen ADSL). Newbury Ventures is based in the San Francisco Bay Area. www.newburyven.com.
About ArrowPath Venture Partners
ArrowPath is an early-stage venture capital firm with over $325 million under management. The firm focuses on early and expansion stage companies developing highly differentiated enterprise and infrastructure technologies that offer a compelling value and have the prospect of achieving market leadership. ArrowPath Venture Partners is based in Redwood Shores, California. www.arrowpathvc.com.
MetaLINCS is a registered trademark of MetaLINCS. Any other marks used in this document are trademarks or registered trademarks of the manufacturers or marketers of the products with which the marks are associated.
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|Date:||Jul 11, 2005|
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