Portland, Oregon-based Zapproved Inc, which develops cloud-hosted software for corporate legal departments, has closed $15 million in funding. K1 Investment Management led the round.
New York, Feb. 2, 2015 – Zapproved Inc. today introduced the new Z-Discovery™ Platform, a cloud-based software suite that transforms the ability of legal departments to preserve, collect and analyze massive amounts of data in-house and affordably.
“The traditional approach to e-discovery is unsustainable,” said Zapproved CEO Monica Enand. “Corporations are facing exponentially growing amounts of data that sit in disparate places. There’s an ‘e-discovery industrial complex’ that feeds off of this with a ‘collect everything’ mindset — and charges exorbitant rates to do so. Corporations can’t continue down this path and we need a new approach to achieve the goals of Rule 1: a ‘just, speedy and inexpensive’ resolution to civil litigation.”
Z-Discovery begins with Zapproved’s flagship Legal Hold Pro™ product which is the most trusted cloud software in use by corporate legal departments. Added to that are two new products, Data Collect Pro™ which provides a cost-effective and user-friendly application for conducting targeted collections remotely and defensibly, and Digital Discovery Pro™ which provides hyper-fast, cost-effective processing software to pare down data sets to the most pertinent information. Powerful cloud-based computing enables Digital Discovery Pro to process at speeds exceeding a terabyte per hour.
Zapproved architected the Z-Discovery Platform from its foundation to take full advantage of the efficiencies that cloud infrastructure offers. Corporate legal departments have unprecedented control via an intuitive interface and visibility at every step of the process. Hosted on industry-leading Amazon Web Services, Z-Discovery can be deployed instantaneously and is scalable to handle matters of any size. Finally, Z-Discovery offers predictable pricing that makes sense because clients can select an affordable plan that matches the resources with their expected e-discovery needs.
Zapproved realized its vision by growing its team through an institutional investment of $15 million led by K1 Investment Management. The company added staff and expanded its cloud technology offerings, including through acquisitions. Since the partnership with K1, Zapproved acquired and integrated eCloud Collect, the technology behind Data Collect Pro, and doubled its internal software development resources.
“We are incredibly excited about the partnership with Zapproved. Their deep domain knowledge, market recognition and client satisfaction have allowed the company to scale dramatically over the past few years. Zapproved’s rapidly growing client base includes household names in the technology, financial services and consumer goods sectors,” said Neil Malik, Managing Partner of K1 Investment Management.
To learn more, visit www.zapproved.com, call 1-888-366-0666, or send an email to [email protected] Please visit Zapproved at LegalTech New York at Booth 1400 from February 3-5, 2015.
About Zapproved Inc.
Founded in 2008 in Portland, Ore., Zapproved Inc. is a pioneer in developing cloud-hosted software for corporate legal departments. The Z-Discovery platform returns power to in-house corporate legal teams and helps them navigate electronic discovery with minimal risk and cost, and it sets new standards for scalability and intuitive design. The company’s flagship product Legal Hold Pro is widely adopted by Fortune 500 and Global 2000 corporations and has earned recognition as the 2014 Best of the National Law Journal and the 2013 and 2014 Best of Legal Times. Zapproved was recognized in the 2014 Inc. 500 as one of the fastest growing private companies in the U.S.
About K1 Investment Management, LLC
K1 is a West Coast-based venture capital firm with offices in Los Angeles, Menlo Park and Denver. The firm focuses exclusively on enterprise software companies that provide mission critical applications. K1 is a value-added investor with a dedicated operational consulting affiliate that drives scalability and operational excellence across the organization. For more information please visit www.k1capital.com