# RenewData Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/renewdata

- Industry: Software
- Headquarters: Austin, US
- Website: www.kldiscovery.com
- Total disclosed funding: $41M
- Latest round: Series E (Sep 24, 2009)
- Investors on record: 2

## About

RenewData Corporation is a technology firm specializing in eDiscovery and information governance solutions, offering advanced tools for effective data management, particularly for legal professionals.Founded in 2001 and headquartered in Austin, US, RenewData Corporation focuses on providing eDiscovery solutions. In December 2014, it was acquired by LDiscovery, a portfolio company of WestView Capital Partners. The company has participated in 7 deals since its inception, with the latest funding round in December 2014 raising USD 5.26 mn, which aligns with the total amount raised to date.KLDiscovery specializes in eDiscovery and information governance solutions, primarily through its flagship Nebula Ecosystem and associated services. The Nebula platform offers an end-to-end solution for data management, encompassing capabilities such as data archiving, processing, and review, which streamline workflows for legal professionals across various sectors. The company utilizes advanced technology, including predictive coding and continuous active learning, to enhance document review efficiency for clients managing large volumes of data. Its offerings cater to a diverse client base ranging from healthcare to multinational corporations, providing tools that are particularly beneficial for litigation, regulatory investigations, and compliance activities. KLDiscovery's services are deployed globally, with significant market presence in North America, Europe, Asia-Pacific, and Africa, ensuring that clients can access comprehensive eDiscovery solutions tailored to their specific regional needs.KLDiscovery's revenue model primarily revolves around B2B transactions, where clients engage the company for its eDiscovery and information governance services on a subscription or project basis. Clients regularly utilize the Nebula platform and other associated services, entering agreements that can encompass long-term contracts for ongoing data management or one-off engagements for specific legal cases. The company offers various pricing plans that correspond to the specific services utilized, although detailed pricing information is not disclosed. Revenue is generated through flagship services, including managed document review and digital forensic services, which are essential for clients navigating complex legal landscapes. This revenue structure allows KLDiscovery to maintain a robust financial foundation while delivering high-quality solutions to its diverse clientele.KLDiscovery is focused on enhancing its product offerings and expanding its market reach. Following the acquisition of RenewData Corporation, the company plans to integrate new features into the Nebula Ecosystem, although specific product launch dates have yet to be announced. The firm aims to expand its presence in Asia-Pacific and Africa by the end of 2025, leveraging the recent funding of USD 5.26 mn to support these initiatives. The acquisition deal in December 2014 is a strategic step towards consolidating its position in the eDiscovery market.

## Funding rounds

- Series E, Sep 24, 2009, $6.1M — ABS Capital Partners, CIBC Capital Partners
- Series D, Mar 21, 2007, $5M — ABS Capital Partners, CIBC Capital Partners
- Series C, Aug 4, 2006, $30M — ABS Capital Partners, CIBC Capital Partners

## Investors

- ABS Capital Partners (https://capitalatlas.ai/funds/abs-capital-partners) — Series C, Series D, Series E
- CIBC Capital Partners — Series C, Series D, Series E