Henderson, NV, July 13, 2016
iCONECT today announced a multimillion-dollar agreement with FMMC Private Yield Fund (FMMC), a private investment fund managed by Fraser Mackenzie Merchant Capital. This agreement will support the ongoing development of iCONECT’s flagship XERA document review platform and its continued expansion in the legal eDiscovery field, as well as its entrance into Healthcare and Finance industries. The funds will allow the company to raise their level of innovation and decrease their time to market by investing significantly in their people, their technology, and their worldwide community of users. iCONECT will remain privately owned and independent, and Ian Campbell will continue his role as President & CEO of the company.
iCONECT’s XERA document review platform is already a key component of document review workflows for some of the world’s largest legal cases. The FMMC funding will assist with further expansion of iCONECT’s already extensive network of worldwide eDiscovery hosting providers. Similar to its recent partnership in Healthcare, the company continues to pursue alliances with firms entrenched in Oil & Gas, Forensics and Finance verticals.
“We believe that the FMMC approach is key to our future growth and will allow us to continue to understand, anticipate and simplify solutions for our clients,” said Ian Campbell, President and CEO of iCONECT. “We’re pleased to work with FMMC and are excited by the possibilities of what can be accomplished in the near future.”
iCONECT’s software platform is touted for its intuitive user experience, and its ability to manage complex document review workflows, which consist of billions of documents, for multi-party, web-based user access. As a technology that can be deployed in-house (behind the firewall), in a private cloud, or through iCONECT’s network of 68 worldwide service providers, leading global law firms rely on iCONECT technology to manage, capture and review documents in situations where reviewers are spread out across the country or around the world.
“We are delighted to support such a strong management team in what is clearly an inflexion point in the industry,” says Don Bent, Partner at FMMC who manages capital for an esteemed group of investors. “Our diligence process, which involved the work of noted experts in the field of legal eDiscovery, provided us with further validation of the potential of iCONECT going forward. With proven technology and a strong market brand, we’re excited about being involved in leveraging the XERA platform into new opportunities through our network of contacts across diverse industry sectors.”
About iCONECT DEVELOPMENT, LLC:
iCONECT Development, LLC is an industry leader in developing innovative legal review software and services that empower legal teams to complete complex review projects more cost effectively. As early innovators of eDiscovery review software since 1999, and with the release of the revolutionary web-based, iCONECT-XERA® eDiscovery Review Platform, iCONECT continues to raise the bar for advancements in developing intelligent, easy-to-use tools that help hosting providers, law firms, corporations and government agencies worldwide optimize workflows and manage big data more efficiently. iCONECT was most recently honored by CIO Review as one of the Top 20 Most Promising eDiscovery Technology Solution Providers in 2016, and named by KMWorld Magazine as one of 100 Companies that Matter in Knowledge Management in 2016.
About Fraser Mackenzie Merchant Capital:
Fraser Mackenzie Merchant Capital is headed by a group of partners each of whom has over 25 years’ experience in finance and operations focused on helping medium sized businesses grow. Fraser Mackenzie Merchant Capital manages the FMMC Private Yield Fund, which provides capital to profitable, privately-owned and small-cap public businesses in Canada and the United States. The fund focusses on working with companies which demonstrate proven, strong, and stable cash-flows to help its owners enhance the value of their shareholdings, while allowing them to do so with minimal ownership dilution. FMMC also offers a comprehensive suite of Investment Banking and Advisory Services including mergers and acquisitions and helping boards and shareholders with a variety of other strategic advisory assignments. www.fmmc.ca
iCONECT Development, LLC