Migrated from eDJGroupInc.com. Author: Greg Buckles. Published: 2015-09-17 20:00:00Format, images and links may no longer function correctly.
Recommind has always played the brand and marketing game better than many eDiscovery players. What started as a fast (and erroneous) blog based on my search engine serving up a 2012 video interview of Recommind CEO Bob Tennant ended up in the realization that Bob has just handed the reigns over to Zantaz veteran Steve King. A sharp reader caught my date error and blew away my original assumption that Recommind’s revenue had been flat since 2012. Or did it? Recommind heavily promoted their rapid revenue growth in the 2009-2012 period taking them from $14.7M up to $70.5M as one of the first predictive coding offerings on the market. The steady stream of press releases giving hard growth and revenue numbers dry up in 2012 and the company took $15M in funding by the end of 2013. My interpretation is that Recommind rode the PC/TAR wave and sales to early adopters (especially government agencies) before losing momentum by investing in the IG market too early. Now they have refocused on a SaaS Go To Market model just as many hosted review companies are floundering with corporate customers demanding an alternative to volume based pricing. Newly crowned CEO Steve King has a solid track record and experience with SaaS. Maybe he can guide Recommind through their conversion. I will be watching and trying hard to not jump to conclusions (especially those based on outdated information).
Greg Buckles wants your feedback, questions or project inquiries at Greg@eDJGroupInc.com. Contact him directly for a ‘Good Karma’ call. His active research topics include analytics, mobile device discovery, the discovery impact of the cloud, Microsoft’s Office 365/2013 eDiscovery Center and multi-matter discovery. Recent consulting engagements include managing preservation during enterprise migrations, legacy tape eliminations, retention enablement and many more.
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