Legal intelligence company Logikcull has raised USD10 million in venture capital led by OpenView with participation from existing investor Storm Ventures.
In the event of litigation, internal investigations or open records and subpoena response, Logikcull makes it simple and affordable for anyone to quickly find what is in data.
“OpenView and Storm Ventures have a great track record helping enterprise-focused tech companies with clear missions grow fast,” says Logikcull CEO Andy Wilson. “We want to win this market so we can bring the benefits of legal intelligence to the millions of legal and compliance professionals who struggle to overcome the challenges of big data, and to parties who otherwise can’t afford to pursue just resolutions to disputes due to their cost and complexity.”
eDiscovery and other data-intensive legal processes can be highly complicated and expensive. At the same time, the legacy software that has developed to address legal and compliance needs has largely failed to meet the challenges associated with the rise in data volumes. As a consequence, the costs associated with litigation, investigations and related processes have soared, and parties without the funds and technical knowledge to adequately conduct discovery have been stifled from pursuing just resolutions to legal disputes.
"The absurd cost of litigation and corporate compliance today is in large part attributable to the complexity and unpredictability of discovery and other data-intensive processes,” says Saastr Fund’s Jason Lemkin, a member of the Logikcull board of directors and the company’s first investor. “Logikcull is fundamentally changing how those processes are performed with user-friendly technology that promotes powerful simplicity.”
Logikcull’s cloud-based legal intelligence platform automates more than 3,000 steps that are essential to preparing data and documents for review by legal and compliance professionals. Once data is uploaded to the system, it can be searched with Logikcull’s Culling Intelligence search engine, which approximates the experience of online shopping, and then shared with other parties.
“Logikcull is helping legal teams take back control and level the playing field, while saving tremendous amounts of time and resources that have been wasted due to obsolete technology. It was a no-brainer to get involved and help them propagate their long-overdue solution to these major problems facing the legal community,” says Storm Ventures managing director Alex Mendez.
