Contact Information: Press Contact: Valerie Chan 206.856.7885 Email Contact
Exterro Receives Series-A Funding
Investment Will Be Used to Expand the Company's Product Offerings, Executive Team and Global Operations
| Source: Exterro, Inc.
PORTLAND, OR -- (MARKET WIRE) -- January 26, 2007 -- Exterro, a leading provider of litigation
support and discovery management technology to the legal industry, today
announced the receipt of a major investment in Series-A funding from
private investors to expand operations and launch its products.
Headquartered in Portland, Oregon, the company has offices and a
development center in Chicago, Dallas, San Francisco and Coimbatore, India.
The funding allowed Exterro to hire a leading expert in the legal industry,
in addition to marketing and development staff. Future plans include
offices in New York/Washington, D.C. and other strategic locations during
2007, as well as speeding the development of new and innovative products.
Commenting on the recent investor funding, Exterro CEO Bobby Balachandran
noted:
"According to a leading analyst study, three-quarters of all global
companies will be involved in regulatory or legal action that requires a
systematic approach to legal discovery. It's no surprise then that both law
firms and corporate legal departments are seeking to take greater control
of discovery and litigation support processes. This need holds out
tremendous opportunity for technology companies that can help legal
professionals better manage these processes. Our recent funding
demonstrates investor recognition that Exterro can help law firms and their
corporate clients effectively manage the discovery and litigation support
process."
Exterro is led by an executive team with more than 70 years of industry
experience, most notably in the successful development of litigation
management systems. By leveraging Exterro's technology, legal
professionals can at last efficiently automate, monitor and track discovery
processes, collaboration, project costs, schedules and vendor performance.
According to Robert L. Carey, Chair of the Labor & Employment Practice
Group, Tonkon Torp, LLP:
"Exterro has created the legal industry's first fully integrated Discovery
Management Platform that speaks to the needs of corporations in litigation.
It is focused on the need to control the rapid growth of discovery,
particularly with the changes to the Federal Rules of Civil Procedure as
relates to the handling of electronically stored information. Exterro's
ability to manage discovery risks using its Collaboration, Automation &
Integration of legal teams is 'game changing technology.'"
A 2006 Fulbright Study revealed that the average litigation expenditure for
those companies surveyed is $12 million. For many companies, the cost
associated with litigation is considerably higher. Exterro is bringing its
technologies to market just as efficiencies in the litigation process are
needed most, particularly with the impact of the amendments to the Federal
Rules of Civil Procedure.
About Exterro
Exterro is a leading provider of litigation support and discovery
management technology to the legal industry. Exterro's technology offerings
help legal teams control discovery processes and costs by tightening
collaboration between outside counsel, in-house legal teams, service
providers and consulting firms. Headquartered in Portland, Ore., the
company operates in four additional locations, including Chicago, Dallas,
San Francisco and Coimbatore, India with plans to open a New York office by
the end of Q1Y07. Find out more about Exterro and its industry-changing
technologies at www.exterro.com.
Exterro and Exterro Fusion are trademarks of Exterro, Inc. All other
company or product names and service marks may be trademarks or registered
trademarks of their respective companies.