RenewData Posts Fourth Consecutive Year of Record Growth in 2005; Revenue Grows 244% as Customers Embrace Information Governance Solutions
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AUSTIN, Texas, April 20 /PRNewswire/ -- RenewData(R), a leader in Information Governance(TM) solutions for corporations and law firms, today announced that 2005 provided the fourth consecutive year of record revenue growth. The acquisition of new customers combined with substantial follow-on business from existing customers contributed to the 244 percent year over year revenue increase.
"RenewData's almost triple revenue growth is a clear indicator that customers are embracing the full-service Information Governance solutions we delivered in 2005 -- and we fully expect our investment and growth in this area to continue through 2006 and beyond," said Bob Gomes, president and CEO of RenewData. "By expanding our offerings with ComplianceNOW, PreservationNOW and ConsultNOW, combined with our heritage of eDiscoveryNOW, we are committed to leveraging our legal expertise with scalable products to help our customers address their Information Governance needs in the most affordable, timely and secure manner possible."
Information Governance aligns information with corporate governance policies and procedures helping organizations to be both compliance and litigation ready. Organizations that follow the Information Governance model are able to proactively establish a flexible evidentiary foundation for current and future regulatory compliance, audits, investigations and litigation.
"Corporations and law firms recognize that they need to align their legal challenges and IT capabilities; providers who help them address that need are likely to be in increasingly great demand," said George Socha, Socha Consulting and co-author of the 2005 Socha-Gelbmann Electronic Discovery Survey which provides an in-depth view of the electronic discovery market. In the 2005 survey, RenewData was ranked as one of the top 5 electronic discovery service providers, making the company well-positioned to capitalize on the burgeoning marketplace and provide customers a seamless way to manage their total Information Governance needs.
Highlights of 2005 include:
Revenue and Customer Growth
o Revenue growth from $4.5 million in 2003 to $12.5 million in 2004 to
$30.5 million in 2005
o 70% growth in compliance and email migration services, year over year
Solution Advancement
o Enhanced total suite of Information Governance solutions featuring:
o ComplianceNOW, secure email supervision and policy management
o PreservationNOW, proactive and reactive evidence preservation and
management
o eDiscoveryNOW, collection, extraction, processing and production
featuring increased product functionality with ActiveVault
Discovery Engine, a browser-based hosted solution which allows
users to easily search, organize, review and produce email and
native files
o ConsultNOW, a complete range of services to address any legal or
business compliance, email or e-discovery situation including
forensics preservation and expert witness services
Processing and Storage Capacity Growth
o Increased amount of data processed from 4.3 petabytes in 2004 to 7.4 petabytes in 2005, an increase of 72%
o Expanded data center at corporate headquarters
o Increased disk storage capacity from 1.2 petabytes in 2004 to current capacity of 3.3 petabytes, an increase of 175%
Organizational Growth
o Expanded key functional areas and strengthened management team with
executive-level appointments of hosting and storage, legal and
professional services and the general counsel
o Expanded geographical coverage with new sales offices in Washington D.C. and Seattle
o Doubled square footage of corporate headquarters
o Headcount growth from 16 in 2002 to more than 230 today
Industry Excellence
o Ranked as a "Top 5" electronic discovery service provider by the 2005
Socha-Gelbmann Electronic Discovery Survey Report
o Selected as one of top electronic discovery providers in the 10th
Annual AmLaw Tech Survey
o Named as 2nd fastest-growing private companies in Austin by the Austin
Business Journal in more than $10 million in revenue category
About Information Governance
Information Governance is the critical alignment of business needs with information retention and corporate governance policies to create the next generation of information lifecycle management. It bridges the gap between the legal and IT departments through a proactive approach that enables organizations to establish a flexible evidentiary foundation that helps them become both compliance and litigation ready.
Information Governance can efficiently and effectively address current and future regulatory compliance, audits, investigations and litigation. Information Governance is possible through a suite of solutions that treat data as evidence from its inception. These solutions capture, preserve and provide access to unstructured data -- including email, IM and user files. Review capabilities of that data are then provided in a structured, indexable and searchable manner allowing relevant documents to be produced in a manner that minimizes associated cost and risk. An Information Governance model can allow large enterprises and small and medium businesses to take an integrated, needs-based approach and develop a long-term, forward-looking solution to help meet the compliance and other demands placed on organizations today.
About RenewData:
RenewData(R) is a leader in Information Governance solutions, providing full-service email archiving, compliance and electronic discovery solutions that enable corporations and law firms to manage digital data, email and user files-as evidence. RenewData leverages its legal expertise with scalable technology solutions to respond to customer needs for secure, accessible and manageable data in a cost effective and timely manner. RenewData clients include Fortune 500 companies, small and medium businesses, financial services and law firms. RenewData is ranked as a "Top Five" electronic discovery service provider by the 2005 Socha-Gelbmann Electronic Discovery Survey Report and is a founding member of the Electronic Discovery Reference Model project. For more information, visit www.renewdata.com or call 888.811.3789. To get RenewData news directly visit renewdata.com/rdcrss.html .
Source: RenewData
CONTACT: Michele Glaze of RenewData, +1-512-922-6540, or
mglaze@renewdata.com
Web site: www.renewdata.com/
http://renewdata.com/rdcrss.html
