Clearwell Systems Pioneers Email Intelligence Market, Announces Funding From Sequoia Capital24 January 2006
Clearwell Systems, Inc., a pioneer in the Email Intelligence market, today announced the launch of its company with financial backing from Sequoia Capital, the venture capital firm behind Apple, Cisco, Google, Oracle and Yahoo!. Email Intelligence is the discovery, organization and analysis of the information captured in corporate email systems to drive better business performance across numerous business functions -- including regulatory compliance, legal discovery and customer management. Clearwell is led by a seasoned team from companies including Google, HP, Microsoft, Oracle, Siebel Systems and Sun Microsystems.
"Email has become the de facto system of record within the enterprise and contains valuable information not found in any other systems," said Michael Osterman, founder of Osterman Research. "Enterprises of all sizes need to analyze this data to drive better performance across business functions such as lowering the costs of regulatory audits and legal discovery requests, enabling faster and more accurate early case assessments and rapidly addressing customer issues."
To date, inaccurate and time-consuming manual review of email has been the only option for email discovery, organization and analysis. Current tools with rudimentary keyword search do not provide the sophistication these enterprises need to perform automated, in-depth analysis. As a result, the cost of responding to a discovery request can reach $250,000, and enterprises spend millions each year analyzing emails critical to regulatory audits and legal investigations.
"Email Intelligence extracts and delivers a new level of actionable intelligence from information contained in corporate email systems, much like Business Intelligence solutions, which have successfully enabled companies to extract critical information from data contained in databases such as Oracle and Sybase," said Jim Goetz, partner at Sequoia Capital. "As the first Email Intelligence solution, Clearwell is poised to capitalize on this emerging market, which we expect to become a multi-billion dollar industry within the next few years."
The Clearwell Email Intelligence Platform(TM) provides enterprises with a revolutionary approach to email analysis. Clearwell analyzes the unique properties of email, combines it with organizational data and applies patent- pending linguistic and statistical analysis algorithms to extract intelligence from email messages and attachments. The company's initial solutions focus on regulatory compliance, legal discovery, and customer management, providing actionable intelligence across all business units. Clearwell enables enterprises to lower operational costs, reduce corporate risks and optimize customer management. The Clearwell Email Intelligence Platform has been deployed across several Fortune 500 companies, providing cost savings of up to 90 percent.
"As demonstrated over the last several years, email is the one source of information that everyone trusts to find out who knew what and when in all litigation, corporate investigations, contract negotiations and more," said Aaref Hilaly, president and CEO of Clearwell Systems. "Until now, the manual process of uncovering and analyzing critical information in email has resulted in serious inaccuracies and required long hours, armies of staff and excessive costs. With Clearwell's solution, the time spent on email analysis is reduced from weeks to minutes, costs are lowered by as much as 90 percent and inaccuracies are eliminated."
About Clearwell Systems
Santa Clara, Calif.-based Clearwell Systems is transforming the way enterprises discover, organize and analyze the information across their corporate email systems. Clearwell enables business and IT executives to lower discovery costs, reduce fines, grow revenue and improve customer satisfaction. Fortune 500 companies -- large energy companies, major financial institutions, leading high-technology companies, and global professional services organizations -- have realized immediate value within days of their deployments. For more information, visit http://www.clearwellsystems.com.
Source: prnewswire
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