FileFacets Announces Investment from NextLaw Ventures
March 16, 2017
Leading legal strategic investor closes FileFacets’ over-subscribed Series A financing round
Ottawa, Ontario – March 16, 2017 – FileFacets, a data analytics and content migration software platform, today announced that it has closed an investment from NextLaw Labs through its investment fund, NextLaw Ventures, in the company’s over-subscribed $4 million Series A financing, led by Celtic House Venture Partners.
NextLaw Labs is a business accelerator developed by global firm Dentons focused on investing in, developing and deploying new technologies to transform the practice of law.
Law firms around the world are looking for efficient ways to identify case files across multiple repositories, offices locations and often different law firms to facilitate the discovery process and share information between co-counsels. FileFacets’ cloud-based data analytics and content migration platform makes it easy for law firms to identify, collect, and analyze millions of unstructured files from multiple disparate locations and move them into structured file locations in a secure, automated, and documented process.
“The situation often faced by law firms during case assessment is the challenge of actually finding the relevant content across several sources that pertain to the case in question,” said Dan Jansen, Chief Executive Officer at NextLaw Labs. “FileFacets allows law firms to streamline research by categorizing and prioritizing relevant content, significantly reducing the manual time spent manually searching and sorting through these types of files.”
“FileFacets content analytics and migration technology was developed to solve for the specific challenges faced by the legal industry,” said Chris Perram, Chief Executive Officer at FileFacets. “The onus of evaluating and processing thousands, often millions of files is a daunting task for any corporation. The FileFacets platform automates the categorization of data and the attribution of file metadata, enabling law firms to gather and process the necessary content in hours instead of weeks or even months.”
“We’re very pleased to be working with NextLaw Labs and welcome their participation in FileFacets A round,” said David Adderley, Partner at Celtic House Venture Partners, “Not only do they understand the problem space within the legal vertical, their endorsement of the FileFacets technology platform speaks directly to the confidence we share in Chris and his team.”
FileFacets provides sophisticated content analysis and intelligent content migration in a highly automated and scalable SaaS-based solution. The FileFacets Analytics platform identifies and processes Redundant, Obsolete, and Trivial data (ROT) as well as Personally Identifiable Information (PII), allowing businesses to find what they have, keep what they need, and protect sensitive data accordingly. The FileFacets Migration platform employs advanced clustering and predictive coding technology to automate the categorization of data and the attribution of file metadata. This enables organizations to quickly move unstructured content from virtually any repository or location to their environment. For more information, visit www.filefacets.com.
Vice President, Marketing | FileFacets
Phone: 613-599-7433 x223