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Recommind Secures Investment From Kennet Partners

By Brad Jenkins

SAN FRANCISCO, Oct 07, 2008 (BUSINESS WIRE) -- Recommind, a leading provider of enterprise search, email management and eDiscovery systems for enterprises, today announced that it has secured the first institutional funding in the company's history. Kennet Partners, a global investment firm focused exclusively on mid-stage, high-growth companies in strategically critical markets, led the round. Experiencing dramatic growth across all product lines and geographies, Recommind is tapping into private equity in order to quickly ramp its global operations and acquire additional product and market breadth through acquisition.

"We are very proud of Recommind's track record of strong, organic growth and profitability over these past 7 years. Our high-growth rate is a testament to the dedication, focus and capabilities of our employees -- not to mention the strong support of our customers. But with the tremendous demand we have experienced, which has only accelerated with the recent financial market crisis, access to significant capital will be a key ingredient of our ability to fulfill exploding demand organically and through acquisitions going forward," said Robert Tennant, CEO, Recommind. "With a successful track record of investing in well-established, strategically positioned companies experiencing significant growth, Kennet Partners is an ideal partner that shares our vision of making Recommind the leading provider of information risk management solutions to enterprises."

Full post as published by Litigation support industry business news and information on October 08, 2008 (boomark / email).