CHICAGO, IL, Esquify, the breakthrough legal technology for human document review, has secured a $710,000 seed round of funding.
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Esquify, the breakthrough legal technology for human document review, has secured a $710,000 seed round of funding to aggressively accelerate growth. Network Ventures led the investment round with participation from existing and new investors including Foley Ventures, the investment arm of national law firm Foley & Lardner LLP, and Bridge Investments, a Chicago-based venture capital firm. The investment brings Esquify's total funding since launching its revolutionary platform to $1.25 million. Network Ventures' Managing Director, Jeff Maters, will join Esquify's Board of Directors.
In an industry struggling to contain costs and achieve reliable results, Esquify employs proprietary, machine learning technology in eDiscovery to deliver productivity benchmarking tools and analytics that heighten cost efficiency in legal document review and increase overall accountability and quality.
"We're excited to be bringing a fresh perspective with tangible efficiencies to the world of law," said Scott Stuart, Esq., Esquify Founder and Co-CEO.
Esquify transforms the document review experience by employing cutting-edge productivity technology which supervises reviewer teams remotely, simultaneously and at scale. Employing communications features and real-time analytics on performance and progress, the solution drives 25%+ more efficient reviews and cost-savings of 25%-45% or more.
"We're growing the next big thing in legal discovery, using technology to power human reviewers for large to small firms and Fortune 100 companies," added Drew Stern, Esquify Founder and Co-CEO.
"With so much spent on document review in eDiscovery, Esquify is going after a massive market with a ton of inefficiencies," said Jeff Maters. "Scott and Drew bring their legal and technology backgrounds to build an offering that is exactly what the industry needs."
The seed financing builds on an exceptional year for Esquify, which saw rapid growth of over 500%. The company also added marquee firms to their client roster and received national attention via market and award recognition in the world of legal technology.
Based in Chicago, Esquify was born from the belief that technology could revolutionize how attorneys practice law, particularly in eDiscovery. Esquify passes on unprecedented savings, efficiencies and real-time analytics, giving clients the peace of mind needed to focus on what matters most - winning the case. As a 2017 Chicago Moxie Award finalist as Chicago's Best B2B Start-up, Esquify is transforming law through technology. For more information, please visit www.esquify.com.