Washington, DC – May 15, 2013 – Modus, a leading eDiscovery services provider, today announced that it closed $10 million in funding from Harbert Management Corporation and Azalea Capital. The investment will be used to aggressively expand nationwide sales and operations. Modus CEO, Abtin Buergari, also participated in the financing.
Modus is revolutionizing the eDiscovery services industry. Assisting its many customers that are getting crushed by ballooning data volumes and unpredictable discovery costs, Modus offers fixed fee managed services that restore visibility and control over outsourced legal spend, and eliminate uncertainty from the discovery process. Modus eDiscovery experts work with corporations and law firms to understand their business needs. Combining financial analysis with institutional knowledge gained from thousands of eDiscovery projects, Modus develops the scope and fixed fee for specifically tailored services.
“The eDiscovery market is experiencing dramatic growth and Modus is uniquely poised to capitalize on that growing demand,” said Patrick Weston, Managing Partner, Azalea Capital. “We see their product and services portfolio as highly disruptive and look forward to supporting their ongoing success.”
“We look forward to teaming with Modus in pursuit of a great market opportunity,” said John Harrison, Managing Partner, Harbert Management Corporation. “We are very impressed by their management team, customer satisfaction, and the growth they’ve achieved to date. We believe this capital infusion will further accelerate growth.”
“At Modus, the needs of our customers drive everything that we do,” added Abtin Buergari, CEO, Modus eDiscovery, Inc. “Our goal to provide customers with a better eDiscovery experience has spurred considerable innovation. This investment will allow us to improve upon our services portfolio, significantly expand our national footprint, while employing progressive technologies aimed at bring clarity and consistency to our customers’ eDiscovery processes.”
To learn more, visit www.discovermodus.com
Modus is an eDiscovery services vendor. Some of the world’s largest corporations and AMLAW 200 law firms trust Modus to solve tough problems, control costs, and meet deadlines with accurate, defensible data. Inc. 500 recently ranked Modus as the fastest growing eDiscovery company in America. www.discovermodus.com
The Walker Group