Posted by: Beth Pariseau
data compliance and archiving
RenewData announced today it’s bought the privately-held Digital Mandate for an undisclosed sum, and plans to add Digital Mandate’s Vestigate legal review software to its eDiscovery software as a service (SaaS) offerings.
RenewData CEO Steven Horan says law firms and large corporations use Digital Mandate software to do “first-pass review” of electronically stored information (ESI) to determine its relevance to litigation. The application culls data sets before they are submitted for more granular legal review. “If I’m a customer, I don’t want to invest a million dollars just to know if I have a problem,” he said. Horan mainatins Vestigate can provide about 85% validity of the final data set, with the goal of cutting down legal fees that would be incurred by submitting the full data set for granular review.
RenewData provides services for planning, preservation and collection, processing, review, and production of electronic evidence, risk management, and data archiving. Horan said Vestigate was also offered as a service, but ReviewData will use it to offer something that can be put “behind the firewall” in customer environments where compliance or security concerns make a service less appealing.
Enterprise Strategy Group senior analyst Brian Babineau said RenewData, which had been partnering with Attenex (now owned by FTI), had to make this move in response to wider industry consolidation in eDiscovery. “This is a simple e-discovery market roll up,” he said. “[RenewData] had a legal service provider business by using Attenex software. However, when FTI bought Attenex, FTI also has a legal service provider business, [and] Renew was then using a direct competitor’s software.”
Babineau called the merger with Digital Mandate a “good hedge, but it doesn’t propel them forward” in the market.
Socha Consulting founder George Socha, said he’d had a “limited degree of exposure” to Digital Mandate’s product, but RenewData’s approach of bringing more parts of the e-discovery process in house is “consistent with what I hear consumers and law firms say they want – one throat to throttle. RenewData has expanded further across the eDiscovery spectrum.”