H5 Secures Additional $15 Million in Series C Financing Round
SAN FRANCISCO, CA - October 31, 2005 — H5, a leading developer of advanced information discovery, analytic, and risk-management solutions, today announced it has closed $15 million in Series C venture financing co-led by Institutional Venture Partners (IVP) and WaldenVC.
This additional investment brings the total capital raised by H5 since the company’s inception in August 1999 to over $36 million. The new funds will allow the company to continue new product development and expand its business development, sales, and marketing activities. H5 has tripled in size in the past 12 months and has been profitable since Q1 2005.
“This financing will let us fully capitalize on the momentum our solutions have gained in the legal industry, as well as diversify our product offerings into additional vertical markets,” said Nicolas Economou, CEO of H5. “The support of IVP and WaldenVC will be instrumental in enabling H5 to execute its commercial strategy and establish itself as the leader in the emerging market for quality-benchmarked automated document review solutions.”
“H5 has a revolutionary, quantifiable method for corporations and law firms to manage risks in document retention, litigation, and compliance,” said Todd Chaffee, IVP managing director and general partner. “We look forward to working with H5’s exceptional management team as they develop and deliver the next generation of document review solutions.”
Powered by patented information retrieval and categorization technology, H5 replicates, automates, and improves complex information assessment tasks ordinarily performed by human experts. One example is complex litigation: Using H5, clients can mitigate the risk of missing key information by over 50%, reduce document review costs by 50%, and shorten time to completion by 50%.
About H5
At H5, we are dedicated to finding information that our clients need to win cases, meet regulatory requirements, and address risks before they become liabilities. By combining advanced technologies with expertise in search and information analysis, we deliver customized solutions to help corporations and law firms meet their legal discovery, compliance, and information management objectives. Numerous independent studies have proven that H5’s approach delivers greater cost savings and more accurate results than any alternative.