Saturday, August 15, 2009

RenewData Receives $4M in Funding, Acquires Digital Mandate

RenewData grabs $4M in funding

Information management company RenewData Corp. has received $4 million of a planned $6.1 million financing.

Austin-based RenewData got the funding from four investors, according to a filing with the U.S. Securities and Exchange Commission. Earlier this week, RenewData officials revealed that the company had acquired New York-based Digital Mandate LLC for an undisclosed amount.

RenewData Acquires Digital Mandate, Adds Innovative Vestigate Document Review Software to eDiscovery Technology Portfolio

AUSTIN, TX - August 12, 2009 - RenewData, a leading provider of services for the discovery, archiving, and governance of electronically stored information (ESI), today announced it has successfully completed an acquisition of Digital Mandate, provider of discovery lifecycle management solutions including Vestigate document review software. This acquisition further strengthens RenewData's commitment to investing in technology that delivers market leading information governance solutions, significantly lowers costs to clients, and meets requirements for both legal and IT professionals. To support the acquisition and other growth initiatives, existing investors ABS Capital Partners and CIBC Capital Partners provided the equity financing.

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