PureDiscovery Secures $10 Million Investment Led by Medina Capital Funding Aimed at Delivering the Big Data Company's Proven Semantic Discovery Platform to Expanded Target Markets
DALLAS, Sept. 12, 2013 /PRNewswire/ -- PureDiscovery Corp, a leading provider of semantic discovery solutions, today announced that it has secured a $9 million investment from Medina Capital, a high-growth equity investment firm focused on the IT infrastructure sector. The investment is part of a $10-million Series C round of financing.
Building off of PureDiscovery's proven track record of success delivering eDiscovery solutions to the legal industry, the company will deploy the new capital to enhance their legal offering and target additional vertical markets through the continued development of its breakthrough core technology. The funding will also be leveraged to expand PureDiscovery's sales force and enhance its marketing of the strategic benefits of PureDiscovery's solutions.
"Every enterprise and government agency around the world today is faced with the challenge of analyzing extraordinary amounts of data and turning it into actionable intelligence that helps them achieve their goals," said Manuel D. Medina, Founding and Managing Partner of Medina Capital. "The Big Data challenge represents a significant market opportunity and PureDiscovery's disruptive technology provides customers with an innovative solution to a critical business need."
Medina Capital will advise PureDiscovery on cloud-enabling their semantic discovery platform. In addition, the Medina team, which brings extensive enterprise operations, product development, and sales experience, will also help formulate the company's expanded go-to-market strategy.
"Our goal at PureDiscovery is nothing less than to change the very nature of how people discover and connect to the most relevant and critical information," said Dave Copps, CEO of PureDiscovery. "Our platform transforms static search environments where people hunt and peck at large indexes with keywords into dynamic semantic environments where related things are naturally attracted to each other."
PureDiscovery Corp., headquartered in Dallas, Texas, is transforming the landscape of scalable semantic discovery. The company's platform is the only technology in the world capable of transforming hundreds of millions of documents into a working semantic intelligence. The company's applications, built on the PureDiscovery platform, enable connections between people and knowledge that have never been possible before. For more information, visit www.purediscovery.com.
About Medina Capital
Medina Capital is a high-growth equity investment firm focused on IT infrastructure companies in areas such as cloud computing, cybersecurity, big data, software-defined security and software-defined networking. The firm's philosophy emphasizes investing in high-growth companies with established products or services that will benefit from Medina Capital's strategic guidance. For more information about Medina Capital, please visit http://www.medinacapital.com.
SOURCE PureDiscovery Corp.