K1 Invests More Than $200 Million, Making the Combined Company a Dominant Force Driving AI Innovation in Law
CHICAGO, Jan. 26, 2021 – Reveal, a global provider of the leading AI-powered eDiscovery platform, and Brainspace, a global provider of visual analytics for eDiscovery and investigations, announced today that they have joined forces. The combination creates a technology powerhouse bringing together two leading artificial intelligence and analytics engines, propelling the next evolution of legal technology. K1 Investment Management (“K1”), a leading investment firm focused on high-growth enterprise software companies, has invested over $200 million in the combined organization.
“Backed by K1, Reveal’s merger with Brainspace has set into motion the next phase of AI innovation in the practice of law. Fueled by some of the world’s most powerful AI technology and underpinned by the Reveal review platform, we are ushering in a new era of automation in legal technology.” said Wendell Jisa, founder & CEO of Reveal.
In less than six months, Reveal has acquired NexLP and merged with Brainspace to combine the two leading eDiscovery AI solutions and create a “single pane of glass” platform for their customers’ eDiscovery needs. This superior user experience enables clients to manage data, control costs, and extract key insights all in one place. Customers will now have access to the entire suite, including Reveal’s industry-leading processing, early case assessment, AI and review functionality, as well as Brainspace’s data analytics engine.
“Reveal is helping our customers gain insight and foresight in a rapidly evolving space by leveraging augmented intelligence models,” said Dave Deppe, president of UnitedLex.
Eric Crawley, vice president of Global Advanced Technologies and Managed Review at Epiq Systems, added, “Epiq has a long history of leveraging NexLP and Brainspace analytics to provide clients with differentiated methods and solutions, including portable AI models. We’re excited to partner with Reveal as we continue to innovate around advanced analytics for legal technology.”
K1’s investment will be used to fuel growth, including expanding the sales and marketing teams, building additional functionality within the products, and hiring within R&D, data science and customer success to augment the client experience.
“The eDiscovery market is undergoing rapid change and K1 is excited to partner with the Reveal and Brainspace teams to create the category leader in the industry,” said Tarun Jain, vice president at K1. “We look forward to accelerating investment into both companies’ technologies to create a world-class software platform that allows customers to streamline all their eDiscovery requirements.”
The strategic merger of Reveal and Brainspace is another significant chapter in each company’s growth story, with the combined company becoming one of the largest legal-focused AI providers globally. Customers include leading legal service providers, law firms, corporations and government agencies around the globe.
Reveal is the industry’s only eDiscovery platform powered by artificial intelligence. As a cloud-based software provider, Reveal offers the full range of processing, early case assessment, review, infrastructure and artificial intelligence capabilities. Reveal clients include law firms, Fortune 500 corporations, legal service providers, government agencies and financial institutions in more than 40 countries across five continents. Featuring deployment options in the cloud or on-premise, an intuitive user design, multilingual user interfaces and the automatic detection of more than 160 languages, Reveal accelerates legal review, saving users time and money. For more information, visit http://www.revealdata.com.
For more than a decade, Brainspace has been on the leading edge of analytics and machine learning, delivering innovative solutions for complex data challenges in investigations, eDiscovery, intelligence mining, compliance, and alternative data. The most comprehensive and trusted platform of its kind, Brainspace’s patented analytics technology accelerates the process of identifying what matters. Harness the power of the industry’s leading Augmented Intelligence platform to surface insights, slash risk, and solve problems at Brainspace.com.
K1 builds category-leading enterprise software companies. As a global investment firm, K1 assists high-growth businesses to achieve successful outcomes, and invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 100 professionals, K1 changes industry landscapes by assisting with operationally-focused growth strategies designed to assist portfolio companies scale efficiently. Since inception of the firm, K1 has partnered with over 140 enterprise software companies including industry leaders such as Apttus, Buildium, Checkmarx, ChiroTouch, Clarizen, ControlUp, Emburse, FMG Suite, Granicus, Graduway, IronScales, Litera Microsystems, Onit, Rave Mobile Safety, RFPIO, Smarsh, WorkForce Software and Zapproved. For more information about K1, please visit k1capital.com or follow us at linkedin.com/company/k1im.