VC Funding for SaaS Solutions on the Rise

I just got an email with a link to an article on the Information Week Cloud Computing page indicating that venture capital investment in Software-as-a-Service (SaaS) based solutions is on the rise. The article Posted by Mary Hayes Weier @ 10:49:AM on Sep,18, 2009, titled, "VC Funding Is Dead? Tell That To Eight Newly Wealthy SaaS Startups," states that more than $60 million has been pumped into SaaS startups in the past couple of week.

For anyone that reads my Blog on a regular basis knows that I am a SaaS bigot of sorts (http://ediscoveryconsulting.blogspot.com/2009/09/ediscovery-saas-continues-to-gain.html) and therefore beleive that most investments in solid SaaS based technology are going to provide above market returns in the coming years. And, with the accellerating increase in the volume of ESI and the subsequent emergance of the eDiscovery market, I beleive that the investment with the highest returns are going to be SaaS based solutions in the eDiscovery and/or GRC (Goverance. Risk and Compliance) space.

Having spent that last year examining all of the SaaS based solution startups or restarts in the eDiscovery market in detail, I can tell you that there are some very exciting SaaS based eDiscovery solutions that are going to turn this industry upside down, give the legacy vendors a run for their money (literally) and provide some tremendous opportunities for investors.

I have already begun to work with several SaaS based vendors with new technologies in legal hold, chain of custody mangement, next generation file transfer security, project/case/matter management and workflow, Early Case Assessment (ECA), EDD processing and of course online review tools. Over the next twelve months, I am planning to either find or develope a SaaS based solution that seamlessly covers the entire EDRM model and maybe even pushes left into document retention and archiving. Further, as you have also heard me contend on this Blog, I beleive that the ultimate SaaS based solution for ESI management will actually be within the GRC space with eDiscovery as a subset of the requirement (http://ediscoveryconsulting.blogspot.com/2009/08/about-month-ago-i-had-opportunity-to-be.html.)

The full text of the post by Ms. Weier is as follows:

Venture capital funding is at a historic low, yet at least eight software startups announced VC funding in the past two weeks for a total of more than $60 million. Their products are all very different, but they have one thing in common: they're delivered in a software-as-a-service model.

This is significant, because it shows that when VCs are thinking about what software companies to fund, they recognize value in the SaaS model. Some apps are just easier to sell and deploy as a SaaS, and are likely to gain better traction in a tough economy.

And $60+ million in two weeks is impressive, considering the National Venture Capital Association reports that VC investments in the second quarter of this year dropped to levels not seen since 1996.

Here are eight SaaS companies that have publicly announced VC funding so far this month; certainly there are others:

1) Accept, a SaaS for idea and portfolio management, designed to help businesses quickly bring their best product ideas to market, raised $17 million in Series B financing from StarVest Partners, Jefferson Partners and the Entrepreneurs Fund.

2) Apptio, a SaaS for IT financial management, raised $14 million in Series B financing from Andreessen Horowitz Fund, Shasta Ventures, Greylock Partners and Madrona Venture Group.

3) Jobvite, a SaaS for job recruitment, raised $8.25 million in Series B financing from ATA Ventures and CMEA Capital.

4) NextBio, a SaaS used by life science researchers at universities, and businesses such as Eli Lilly, Merck, and Johnson & Johnson, to find and share information, raised $8 million in Series C financing in a round led by Newbury Ventures.

5) Sonian, a SaaS for data management, raised $5.6 million in Series A funding from Prism VentureWorks and Summerhill Venture Partners.

6) HealthHiway, a Bangalore, India-based SaaS for hospital patient data and billing, raised $4 million from Greylock Partners.

7) OptionEase, a SaaS for fair market value accounting and compliance, raised $3.5 million in Series A financing from Miramar Venture Partners and others.

8.) A marketing-related SaaS provider has completed a round of Series C financing. The company and its VC will announce details on Sept. 22.

Labels: 2009 eDiscovery Predictions and Trends, Cloud Computing, eDiscovery, Venture Capital

posted by Charles Skamser @ 9:45 AM 0 Comments

EMC and Kazeon Deal Restores Hope for eDiscovery Technology Entreprenuers

Having spent most of my career as a serial entrprenuer dealing in disruptive software technologies and market paradigm shifts, I was intrigued by the EMC acquisition of Kazeon. Not so much by the fact that EMC acquired Kazeon to round out it's "eDiscovery" or document management offering, but more by the rumored price of between $75M (source: blog post by Aaref Hilaly on September 1, 2009 titled, "EMC Acquires Kazeon For $75 million To Round-Out SourceOne Archiving & E-Discovery Solution".) and $150M (source: blog post by Eric Savitz September 3, 2009 on Tech Trader Daily titled, "Update: EMC Paying $150 Million For Kazeon Systems").

Given the continued world economic crisis that we all face on a daily basis, it is "reassuring" for us entreprenuers to know that you can actually realize an exit strategy of 10-20 times trailing revenues, with or without turning a profit, and you don't even have to be the leader in your market space.

Having written 20-30 serious business plans, pitched literally hundreds of investors from local angles to wall street hedge fund managers and raised my fair share of venture capital during the go go days of the dot com craze and beyond, 10-20 times trailing revenues might have been considered an "OK" deal. However, since the dot com crash, even through valuation negotiations and exit strategy discussions may start with 10 times trailing revenues (great expectations and a postivie attitude is a valued trait for technology entreprenuers), they realistically end up closer to some smaller multiple of projected profits. So, the Kazeon deal has created hope for us entreprneurs and our willing accomplishes on the investment side.

Having pitched all the arguments for what it costs to develope new technology, what the value is of an installed base of users and the financial tradeoffs of build vs. buy/acquire, I would have enjoyed being a party to this discussions. If for no other reason then to watch the dynamics of the competing interests. EMC obviously wanted this deal to happen. And, after $60M in investments by Redpoint Ventures, Clearstone Venture Partners, Menlo Ventures, Focus Ventures, JK&B Capital and Goldmanm Sachs, Kazeon was probably willing to listen. Given this, I wonder what the initial offers were, what EMC would have ultimately paid and what Kazeon would have ultimately accepted. Maybe $75M - $150M was the right number?

What this all means to EMC stockholders and how it advances the willingness of investors to inject more cash into the development of new eDiscovery technology or to fund additional rollups or integrations, remains to be seen. However, at the very least, it reminds us all that this is a very exciting time for eDiscovery technology entreprenuers.

Hopefully, Kazeon will prove to be a great acquisition for EMC, the purchase price will prove to be a real bargin and a new valuation benchmarck will have been born or maybe reborn.

The full text of Aaref's blog post on the EMC acquisition of Kazeon is as follows:

Large storage vendor buys small electronic discovery software company to round-out broader corporate initiative.” That was the story in December 2007, when Seagate bought e-discovery company Metalincs for its i365 solution; and, it’s the same story today as EMC announced its acquisition of Kazeon for its SourceOne archiving solution. The terms of the EMC-Kazeon deal were not disclosed, but sources with knowledge of the transaction tell me that the acquisition price is approximately $75 million. That’s slightly less than what Seagate paid for Metalincs ($82 million), and less than what FTI Consulting paid for Attenex ($88 million). But it’s well within the usual range of $50-100 million that most acquirers pay for technology that has not yet matured into a business.

The deal will come as a relief to Kazeon’s long-suffering shareholders. The company was founded in 2003 and, over the past 6 years, it raised over $60 million in equity financing, double the amount it usually takes successful software companies to reach profitability. But despite all that investment, revenue has been hard to come by. According to former Kazeon employees, the company’s revenue totaled only $7 million over the past 12 months. Perhaps as a result, there’s been a lot of management turnover, and last year the board retained a recruiter to find a new CEO. In light of all that, selling the company for $75 million, or 10 times trailing revenue, is a great outcome for Kazeon’s shareholders. It also provides some level of job security for Kazeon’s employees, many of whom have been offered retention bonuses to stick around.

On the other side of the coin, the deal also makes sense for EMC, which needed to flesh out SourceOne, its recent re-branding of the Email Extender archive. In launching SourceOne in April 2009, EMC described it as an integrated portfolio of products: SourceOne Email Management for email archiving; Discovery Manager for legal holds of email; Celerra and Centera for storage; and Discovery Collector for identifying and collecting data from desktops and file shares. EMC owned all of those products except one: Discovery Collector, which instead was to come from EMC Select Partner, StoredIQ. It is widely known that EMC tried repeatedly to acquire StoredIQ but was rebuffed. So instead, it purchased Kazeon (i.e., the Kazeon Information Server) so that it now owns all aspects of SourceOne and does not have to rely on partners.

Will this eDiscovery deal be successful? We will have to wait and see, but Seagate’s experience is not encouraging. A year after it acquired Metalincs, Seagate laid off most of the staff and hired UBS to help it sell what was left of the electronic discovery company. There have not been any takers.

The full text of Eric's post is as follows:

EMC (EMC) is paying $150 million to acquire Kazeon Systems, Tech Trader Daily has learned.
Yesterday, EMC announced the deal, but terms were not disclosed. A number of trade publications have reported the price tag on the deal as $75 million. But TTD has learned that the actual price was twice that much. The company said yesterday that the deal will not have a material impact on revenue or EPS for the quarter or the year.
Investors in Kazeon include Redpoint Ventures, Clearstone Venture Partners, Menlo Ventures, Focus Ventures, JK&B Capital and Goldmanm Sachs. The Mountain View, California company sells “eDiscovery” software, used for discovery and litigation support by large companies, law firms, legal service providers and consultants.

Labels: eDiscvoery, EMC/Documentum, Kazeon, Valuations, Venture Capital

posted by Charles Skamser @ 7:13 AM 0 Comments

SaaS Application Vendors Will Need Substantial Early Investment to Be Successful

During my weekly investigation of what's going on in the SaaS market, I came across an interesting article titled "When to Spend Cash in a SaaS Business" posted by Phil Wainewright on the ZDNet Sofware as Services Blog.

Mr. Wainewright's article is based on a speech given by Josh James, the CEO and co-founder of enterprise web analytics provider Omniture where he revealed to an enthralled crowd at the SIIA On Demand conference the magic formula that helped his company sustain rocketing growth, dwarf its competitors and become the second-largest listed pureplay SaaS provider in the US, with 5,000 customers and annualized revenues approaching $320 million.

Having built and run several SaaS based software companies, the economics are not surprising.  However, it prompted me to remember that although the investments required by the SaaS ventures are substantial, the associated savings by clients that are using SaaS technology is identically substantial.  And therefore, in the current economic climate, SaaS solutions make even more sense for any organizations, in eDiscovery or in the general business market, that no longer have the budgets to invest in new IT infrastructure and at the same time are having to cut back on IT staff.   SaaS is basically the right solution at absolutely the right time.

The full text of Mr. Wainewright's post are as follows:

Josh James, CEO and co-founder of enterprise web analytics provider Omniture, revealed to an enthralled crowd at the SIIA On Demand conference this week the magic formula that helped his company sustain rocketing growth, dwarf its competitors and become the second-largest listed pureplay SaaS provider in the US, with 5,000 customers and annualized revenues approaching $320 million.

The key to understanding the formula is to recognize that SaaS companies bleed cash with every new customer they acquire — the complete opposite of what happens when a conventional software company lands a new account and pockets a huge upfront license fee. Especially if, like Omniture, the application requires significant infrastructure investment but the subscription is billed monthly.

“Every time we add an incremental customer, it costs us more money that quarter — it costs us more cash that quarter,” explained James. “When you multiply that by 250 customers in a quarter, that’s a lot of expense for no money.”

Some statistics illuminate the scale of Omniture’s infrastructure: it operates 15,000 servers for its 5,000 customers, and processes almost a trillion transactions per quarter — that’s a hundred times more than Salesforce.com’s proudly touted 10 billion. The average transaction rate is 125,000 per second, with spikes up to twice that amount. Those are truly petascale numbers (to use a word I learnt just last week) and every new customer means adding more capacity.

The financial consequences look exceptionally dire when expressed according to the generally accepted accounting principles (GAAP) that the SEC mandates for public company financials. GAAP forces the cost to be expensed upfront but has no way of recognizing that each Omniture customer generally starts returning a profit by the end of the year, and much sooner in the case of smaller customers.

As James explained: “When we were really stepping on the gas in 2004, 2005, we were GAAP unprofitable.” In 2005, he said, Omniture’s negative free cash flow was in excess of $22 million — more than its total annual revenue — and it had spiked higher at some points. “It is a scary moment,” he said — even when management understands the game plan and has the full support of its financial backers, it takes courage to plow ahead regardless. “It is really important to trust the math. The investors were saying, slam on the gas, but you have that gut-check moment there.”

Omniture was relying on a simple calculation that produces a ‘magic number’ telling you when you should hire more sales reps to fuel your growth as a SaaS business. The formula takes the incremental growth in the current quarter, multiplies by four to annualize it, and then divides it by the amount spent on sales and marketing in the prior quarter.

So, for example, let’s say your company increases sales this quarter by $750k over last quarter. That’s $3 million annualized. If you spent less than $4 million last quarter on sales and marketing. then you spent too little. $3 million is OK — a magic number of 1 is “pretty good,” said James. But ideally you should squeeze that ratio down to .75, even as far as .5 — “Go hire some more reps,” Be warned, though, if it falls lower or goes negative — in this example, let’s say you spent the $4 million but it produced less than $500k in extra sales (or worse, your sales went backwards), then you have a problem that needs fixing.

“Any time the magic number’s .75 or more, you should invest in more sales people,” said James. “Less than .5, there’s probably something wrong with your business.”

The model works so long as the following three factors are in place:

- Your customers will be profitable over time: “Once you know for sure that each customer you have is eventually going to pay off, that’s when you slam on the gas,” said James.
- Your retention rate is strong — 95 percent or better — and stays that way.
- The market isn’t saturated (which I guess is unlikely for anyone in the SaaS business for a while yet).

“If investors see a company that’s growing at a healthy rate with a great magic number, it’s a money machine. There’s no doubt,” said James. “If you’ve got more feet on the street you’re not leaving opportunity out there for other people to take … If you can get that number down really fast, then you’re really making hay out there.”

James displayed a chart showing magic number calculations for several public SaaS companies and praised Salesforce.com and SuccessFactors for both adopting a similarly aggressive growth strategy. He acknowledged, though, the difficulties of persuading investors to stand by such a strategy in the current economic climate. SaaS entrepreneurs are going to have to pay close attention to their customer profitability and retention rates so that they can demonstrate to investors the merits of funding their upfront cash needs. By the way, although James didn’t explicitly call this out, his formula also underlines the advantages of working with pay-as-you-go infrastructure providers, because that’s a way of spreading the cash requirement instead of having to fund it all out of your own balance sheet.

Labels: Josh James, Omniture, Saas, salesforce.com, Venture Capital

posted by Charles Skamser @ 3:56 PM 0 Comments

2008 Financial Crisis Not Slowing Investment in Litigation Technology Market

Having helped raise in excess of $75 million in my career for a variety of high tech software startups I was not surprised to learn that Recommind, which offers an “eDiscovery” service aimed at law firms, has raised $7.5 million in a first round of venture funding. Although the funding was announced on October 8, 2008 and has probably been in the works for some time, there is always money available for a solid technology investment. Further and as indicated on this Blog over the past couple of weeks, the Financial Crisis of 2008 will actually provide a windfall for technology vendors in the eCompliance and eDiscovery markets.
The full text of the Recommind announcement as seen on the the Venture Beat site is as follows:

Recommind, which offers an “eDiscovery” service aimed at law firms, has raised $7.5 million in a first round of venture funding. Despite the slowing economy, chief executive Robert Tennant says his company should stay very busy in the coming months.
That’s because San Francisco-based Recommind provides a key tool for litigation. Its Axcelerate product is used during electronic discovery, also known as eDiscovery, which is the initial process of sorting through electronic records. With financial institutions collapsing, and legal battles likely to follow, the need for eDiscovery may be on the rise. Tennant says Recommind has been getting increased requests from its law firm customers, and he expects more to come, even as many companies cut back on their costs.
“Some technology companies’ capital decisions will get delayed … but when a judge says, ‘Thou shalt produce,’ you have to produce,” he says.
Of course, there are other startups entering the market — either involved directly in eDiscovery or in archiving documents for legal purposes — and they’re getting funding, too. For example, Mimosa Systems raised $17 million earlier this year. Other competitors include eDiscovery company Attenex and enterprise search company Autonomy. (Recommind also provides enterprise search.)
But Tennant says Recommind’s service is particularly advanced. He calls it “eDiscovery 2.0″ — a phrase Tennant sounds slightly embarrassed to use, but which gets the idea across. Recommind’s Axcelerate automates the initial process of sorting through documents and judging their relevance, thus making eDiscovery faster and more affordable.
Recommind has also been in the business for a while, with customers like well-known legal firms Cooley Godward Kronish and Wilson Sonsini Goodrich and Rosati. It’s already profitable, and has been growing at about 100 percent per year, Tennant says. So why does it need the funding? There’s a big opportunity for growth, he says. Recommind will use the money to expand its sales team and also acquire some new technology.
The round was let by Kennet Partners.

Labels: 2008 Financial Crisis, Autonomy, eDiscovery Market, eDiscovery Windfall, Mimosa Systems, Recommind, Venture Capital

posted by Charles Skamser @ 4:21 PM 0 Comments

Update on SaaS in the Litigation Market

Software-as-a-Service (SaaS) adoption rates are finally beginning to accelerate in the overall information technology market. Therefore, I thought that is was time for quick update on how SaaS is doing in the litigation market. Is the "jury" still out or are law firms and corporate legal departments following the rest of the pack on adopting SaaS?

Gartner Estimates
Technology research firm Gartner Inc., based in Stamford, Conn., estimated companies spent $5.1 billion on SaaS programs in 2007 worldwide, up 22 percent from 2006. That's expected to double by 2011. Ben Pring, a Gartner outsourcing and information technology analyst, expects about 15 percent of all business software sold to be accessed via the Internet five years from now.

Venture Capital Going SaaS Exclusive?
VC invested currently in software startups is almost exclusively going into SaaS companies. "If you go to a VC and say you've got this great application, this wonderful code, and you're going to put it on CDs and mail it out to all your customers, you'll be laughed out of the meeting," Pring said. But he said the shift to SaaS is in its infancy, and many small-to-medium-sized businesses still aren't comfortable handing their critical software functions and data to an outside vendor.

Salesforce.com Success Factor
In a recent article by Greg Avery of the Denver Business Journal titled "InfoNow, Webroot are on SaaS wave: Software as a service catches on", indicates that the SaaS model -- sometimes referred to as "on-demand software" or computing "in the cloud" -- took hold in the past couple years, fueled partly by the success of San Francisco-based Salesforce.com, which has 36,000 business customers. That company, which promised "the end of software" when it launched in 2001, showed businesses could use important programs remotely and securely keep sensitive company information in someone else's data center.

Mr. Avery went on to say that that trend also has begun transforming Boulder-based Webroot Software Inc., one of the area's most successful traditional software businesses. Webroot sells one copy of its anti-spyware blockbuster program, Spy Sweeper, every 10 seconds. The product resides on the computer hard drives of more than 7 million consumers, and its distinctive green box is outsold only by bottled water in the nation's Best Buy stores. And yet, following its November acquisition of Britain-based Email Systems, Webroot is using SaaS email to break into the small- and medium-business market. SaaS email works like hotmail.com or Google email, only it's designed more for business use. The 300-employee company has 2.5 million business email customers worldwide and expects a lot of growth this year, CEO Peter Watkins said. By summer, the company plans to start selling businesses a hosted website-filtering service that's designed to keep corrupted or inappropriate sites from being accessed from client's computers. Webroot's SaaS offerings to businesses are expected to become the fastest-growing part of the company, Watkins said. Designing the key functions of the software once and hosting it in a Webroot data center eliminates the integration and custom code-writing headaches that business software development normally entails. That makes buying a SaaS product more efficient for customers and a better business model for Webroot, Watkins said. "From my side, it's dramatically more cost-effective," he said. "And that means I can put more money back into the product."

SaaS in the Litigation Market
Spending the better part of almost every business day working with law firms and corporate legal departments to address their legal and compliance ESI needs, my perspective is that SaaS is catching on in the litigation market also. With no hardware of software to install and maintain for the end users and pay-as-you-go subscription based pricing, the general SaaS model is a great fit for the fee based litigation market. And, with many of the data security myths having been addresses with the SaaS vendors moving to Tier-1 data centers such as Level 3, many of the road blocks previously setup by internal IT personnel, are no longer really valid (i.e. the SaaS vendors can provide a more secure and reliable data center than the end users can provide). I would say that one of the last legitimate roadblocks to the full scale adoption of SaaS is the current restrictions that bandwidth place on moving massive amounts of data over the Internet. And, based upon the explosion of ESI, this is one of the requirements in the ligation market. However, with bandwidth increasing along with the proliferation of compression technology, this is also becoming less of a legitimate issue.

Current Crop of SaaS Products and Vendors
Although this is not a comprehensive list of all of the SaaS vendors in the litigation market, it is a list of the SaaS (or SaaS like) technologies and vendors that I have reviewed and believe either have a significant enough client base or sufficiently advanced technology (i.e. true mutli-tennancy with self provisioning, etc.) to be considered a player:

Lexbe
Lexbe.com is a web-based case analysis and evidence management application. Case analysis features include fact and issue analysis, case calendaring, tracking of case participants, deposition analysis, case research, fact tracking and dynamic chronology and timeline generation. Document management features include full-text search, automatic optical character recognition (OCR) of PDF files, document sorting, retrieval and repository, native file review, metadata analysis, document coding, document encryption and off-line access. Lexbe.com is offered on a ASP software-as-a-service (SaaS) basis, so users can access the Lexbe Online application from any web-based computer without the need to install or maintain software. Lexbe.com is available starting at $79/month, with no set-up, cancellation fees or individual user license fees. A thirty-day free trial and online web demos are available at http://www.lexbe.com/.

ImageDepot
ImageDepot, based in Houston, Texas, is an emerging true Software-as-a-Service (SaaS) based Online Review Tool (ORT) that provides all of the rich features and advanced functionality expected from today's ORT's without all the infrastructure or associated costs of maintaining your own system. ImageDepot is available on a pay-for-what-you-use monthly subscription plan with no software or hardware to purchase and no user fees. Click here to access an online Video overview of ImageDepot. More information is available on their website at http://www.imagedepot.com/.

Ringtail
Ringtail Legal from FTI is an easy-to-use litigation document management platform. Offering the industry's best document review tool, Ringtail Legal offers flexible data management and electronic evidence discovery via an intuitive web interface, which provides geographically dispersed legal teams with instant access to every relevant case file. Built on Microsoft SQL Server for scalability, the software solution can handle hundreds of users at once and sort through thousands of cases and millions of documents quickly and accurately. The secure technology allows collaboration using a regular web browser rather than a cumbersome installed program or Citrix access. Easy to customize, the application conforms to the unique requirements of each case. Users also have the ability to add fields to the SQL data model and change the workflow without the need for dedicated – and costly – SQL talent. Ringtail Legal may be installed directly or hosted on the FTI Tier 4 ASP. Either way, users retain complete ownership of attorney work product. Ringtail Legal provides a comprehensive suite of features, including the ability to review native documents using the application that created them, saving the expense of creating thousands of TIFFs. And the product integrates with a wide variety of leading litigation support technologies, including Attenex, SER, dtSearch and CaseMap. More information is available on thier website at http://www.ftiringtail.com/web/.

iConnet Development, LLC
iCONECT Development, LLC is a world leader in litigation support and collaboration software, with products used by law firms, corporate legal departments, Fortune 500 corporations, government agencies, and medical firms. Powered by Oracle technology, iCONECT’s LAN, Web, and Offline solutions enable more than 50,000 end users to review and manage electronic and document discovery from anywhere in the world for effective collaboration with outside counsel, branch offices, and consultants. Past awards include #1 Online Document Repository (AmLaw Tech Survey), #1 Litigation Support Software (Law Technology News Awards), and #1 Web-Based Litigation Software (AmLaw Tech Survey). More information is available on thier website at: http://www.iconect.com/.

CaseCentral
CaseCentral delivers on-demand discovery lifecycle management platforms to corporations and law firms. CaseCentral’s software is backed by responsive, litigation-savvy strategic consulting, process, and support services. CaseCentral empowers customers to support a repeatable business process for litigation and regulatory response—reducing risk and business disruption, boosting productivity, and controlling costs. Founded in 1994, CaseCentral is headquartered in San Francisco, California and maintains sales and support offices in New York City and Washington DC. CaseCentral’s client list numbers over 1,100 law firms and corporations and includes 81 of the top 100 U.S. law firms. CaseCentral is consistently chosen to handle many of the most complex and highly visible litigation projects in the nation. For more information, call 1.800.714.2727 or visit http://www.casecentral.com/.

MessageOne
Headquartered in Austin, Texas, MessageOne is the leading provider of managed services for email management, archiving and business continuity. For enterprise email and wireless messaging systems, the company’s Email Management Services (EMS™) provides comprehensive email archiving, storage management and e-Discovery with the total continuity, recovery, and security protection only available from a managed service. In addition, MessageOne’s AlertFind™ provides guaranteed emergency notification and escalation to help companies protect their employees during any crisis or disaster. Millions of users around the world depend on MessageOne for its award-winning managed services. More information is available on their website at http://www.messageone.com/.

Advologix.Com® LLC
Advologix.Com® LLC, based in Houston, Texas develops and sells AdvologixPM™, the world’s first comprehensive web-based Law Practice Management Software-as-a-Service (SaaS) suite for law firms of all sizes. For more information or to sign up for a free trial evaluation of AdvologixPM please visit http://www.advologixpm.com/.

RocketMatter
Rocket Matter, LLC is a Florida-based technology company providing premier, web-based software for the legal services industry. Rocket Matter, in Beta since November 2007, exemplifies our simple, imaginative, Software as a Service (SaaS) approach to developing a superior software experience. RocketMatter provides increased security, business continuity, decreased technology infrastructure and maintenance, and improved ROI for IT expenses for solo and small firms. Our philosophy is predicated on pairing intuitive, tailored, well-designed software with exceptional customer service. Ubiquity is important in our software design: Our offerings work on Linux, Mac, Windows, as well as most on mobile devices. Client interaction is essential to our process; we involve our customers early and often in the design process. More information is available on their website at: http://www.rocketmatter.com/.

Note to SaaS Vendors
If your SaaS legal solution is not listed and you would like me to review it and list in my next posting, please contact me at mailto:ediscoveryconsultant@gmail.com

Labels: Advologix, CaseCentral, Gartner, iConnect, ImageDepot, Lexbe, MessageOne, Ringtail, RocketMatter, Saas, Software-as-a-Service, VC, Venture Capital

posted by Charles Skamser @ 10:18 AM 1 Comments