The big eDiscovery business news of the week has been the multi-million dollar funding agreement announced by iCONECT. The agreement was reached with Fraser Mackenzie Merchant Capital who emphasised their faith both in the potential of iCONECT and in the strength of the management team led by Ian Campbell.
I have noted recently that barely a month has gone by this year without some new announcement from iCONECT. The company’s evident good health is part of my own assessment that the eDiscovery market generally is expanding whatever may be happening in the wider economic world – indeed, the turmoil in the wider markets, as well as the growing emphasis on privacy and data protection, benefits those within the eDiscovery industry who have the right products and the zeal to capitalise on them.
For example, I wrote a while back about Six enhancements to iCONECT-XERA in 2016 and, most recently, about XERA-CONECT, designed to keep lawyers and project management managers on top of discovery projects on the move.
This year has also seen iCONECT move beyond legal discovery and into healthcare. The iCONECT press release about the new funding refers to “alliances with firms entrenched in oil and gas, forensics and finance verticals.”
Congratulations then to Ian Campbell and his team. I wait with interest to see what iCONECT will do with the investment.