iCONECT Secures Capital Funding
iCONECT, an industry leader in legal technology and eDiscovery have recently announced a deal with Newfield Capital Partners.
Newfield Capital is a private alternative investment firm providing debt, equity and operational expertise to partners in the middle market. With this investment, they will pose as a strategic partner who will fund continual growth and innovation for the company.
“This financing helps us work toward some exciting new developments and expansion of sales and marketing resources.” said CEO Ian Campbell. “We have been profitable since day-one as a company, so we have never really seen the need for external resources. NewField brings both capital and strategic vision toward growth. With a constant focus on innovation, we are well positioned to take on the unique technical challenges in our industry.”
“We have been watching both iCONECT’s technology and the growth in the eDiscovery space for several years,” said Rob Bush, iCONECT board member, and partner at Newfield. “With the emerging opportunity in this space and a strong and experienced management team, we are confident that the impact on partners and end users will be very positive, resulting in significant growth for iCONECT.”
iCONECT have secured an undisclosed amount of funding that is rumoured to be put towards creating shifts in how reviewers will approach legal projects, with the use of Artificial Intelligence.
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