Recommind Wants Big Data
October 5, 2013
The eDiscovery process is part of big data, so it does not come as a surprise when “Recommind Raises $15M From SAP Ventures To Transform Unstructured Big Data Analytics” says MarketWatch. Recommind already provides governance, unstructured data management, and analysis, but it is making a strategic move to enter the big data game. It raised $15 million in a Series C funding round from SAP Ventures. Recommind will use the monies to meet market demand for its CORE (R) technology platform and expansion into the big data market.
Unstructured data plays a big role in everyone’s jobs and lives and Recommind believes it can take solution to the next level of advancement:
” ‘Unstructured data is the largest, fastest-growing part of modern business, and right now it is managed ineffectively,’ said Recommind CEO Bob Tennant. ‘This impacts you whether you’re a CIO, an attorney, a contract analyst, an IT professional or someone who needs to find documents on an important project. Legacy solutions can’t keep up in an age of information overload. We need a new way to access, analyze and govern information — one that is both intelligent and highly automated. With our CORE platform, we have the opportunity to solve some of the most difficult and costly problems in the enterprise.’ “
Recommind already has a big data product even through it is marketed as an eDiscovery tool. The company’s predictive coding technology has revolutionized the legal field. The success will probably be duplicated in big data. Good move for the company.
Whitney Grace, October 05, 2013
Sponsored by ArnoldIT.com, developer of Augmentext
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