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Strong Adoption of Language-Based Analytics℠ Fuels Financial Growth for RenewData® - RenewData announced financial results for the first quarter of 2014 indicative of its continued growth and the strong adoption of its Language-Based Analytics services - RenewData.com
Strong Adoption of Language-Based Analytics℠ Fuels Financial Growth for RenewData®

 

PRZOOM - /newswire/ - Austin, TX, United States, 2014/05/19 - RenewData announced financial results for the first quarter of 2014 indicative of its continued growth and the strong adoption of its Language-Based Analytics services - RenewData.com. NASDAQ: CG

   
 
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RenewData, a legal consulting and technology company with solutions that address the full spectrum of the Electronic Discovery Reference Model (EDRM), today announced financial results for the first quarter of 2014 indicative of its continued growth and the strong adoption of its Language-Based Analytics services.

In its first quarter of 2014, the company realized its largest number of new Language-Based Analytics projects in a particular quarter. Overall, new business signings were up 59 percent in Q1 2014 when compared to Q1 2013. Revenue and EBITDA also increased by more than 8 percent on a year over year basis.

“Today’s eDiscovery has become immensely more complicated due to the influx of big data, security concerns and the rise of regulatory enforcement activities in industries such as financial services. The demand for transparent and effective solutions like Language-Based Analytics will continue to grow - not just because it can significantly decrease document review costs but also for its abilities to provide counsel with far greater insight into document sets much earlier in the document review process,” said Jim Blayney, CEO of RenewData.

Launched in 2012, RenewData’s Language-Based Analytics uses a patented highlight-driven bulk tagger and patent-pending keyword development technology to dramatically increase the speed and efficiency of document review. As an effective and easily defensible alternative to artificial intelligence-powered solutions, it offers a high degree of transparency, control and time and cost savings for legal professionals during document review.

The Q1 2014 results reflect RenewData’s continuing strong performance experienced in 2013, when the company’s Language-Based Analytics revenues increased 24.4 percent compared to 2012 and its eDiscovery revenue grew by 23.8 percent when compared to 2012.

Results in 2013 speak to RenewData’s dedication to providing innovative and secure services and solutions for its clients. Highlights of the company’s 2013 announcements, include the news of the company’s ISO 27001 recertification, the launch of its 110 percent guarantee for Language-Based Analytics review and the awarding of multiple patents for its innovative eDiscovery technology and processes.

About RenewData

RenewData Corporation (renewdata.com) is a legal consulting and technology company with solutions that address the full spectrum of the Electronic Discovery Reference Model (EDRM). The company has a particular focus on review acceleration and its proprietary Language-Based Analytics (LBA) and will guarantee results. RenewData’s goal is to help corporations and law firms mine their unstructured data to significantly reduce the time, cost and risk associated with litigation and investigations.

 
 
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Agency / Source: RenewData | LDiscovery, LLC

 
 

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Strong Adoption of Language-Based Analytics℠ Fuels Financial Growth for RenewData®

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Contact: Press Office - RenewData.com 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any RenewData | LDiscovery, LLC securities in any jurisdiction including any other companies listed or named in this release.

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