Reveal Acquires NexLP to become the leading AI-powered eDiscovery Solution
Reveal takes a major step forward in its mission to bring AI to the masses and changing the way electronic data is managed with a “next-generation” solution
August 11, 2020 (CHICAGO, IL) – Reveal announced today the acquisition of NexLP, the leading artificial intelligence software in the legal industry. With the acquisition, Reveal becomes the market-leader in AIpowered, end-to-end eDiscovery.
The acquisition of NexLP marks a significant step forward for the eDiscovery industry, positioning Reveal as a next-generation market leader with the first software to include best-in-class review, artificial intelligence and processing in an all-inclusive solution that achieves better outcomes and discovery insights faster.
“The future of eDiscovery is artificial intelligence. We’ve acquired the leader in this space to ensure our platform is powered by cutting-edge AI technology and NexLP’s premier data science team,” said Reveal CEO, Wendell Jisa. “This exclusive integration of NexLP AI into Reveal’s solution provides our clients the opportunity to lead in the evolution of how law is practiced.”
NexLP’s artificial intelligence platform turns disparate, unstructured data – including email communications, business chat messages, contracts and legal documents – into meaningful insights that can be used to deliver operational efficiencies and proactive risk mitigation for legal, corporate and compliance teams.
Reveal clients have access to the next-generation solution now. The companies have worked to fully integrate NexLP’s AI software into Reveal’s review software for more than a year. All features, including the industry-exclusive ability to run multiple AI models, as well as all future functionality, become part of Reveal’s standard software. NexLP’s artificial intelligence platform will remain available as a stand-alone application for current clients.
With the acquisition, Jay Leib, Co-Founder and CEO of NexLP, joins the leadership team of Reveal as its EVP of Innovation & Strategy.
“We chose Reveal, after considering all the major players in the space, because they offer by-far, the most comprehensive, solutions-oriented technology on the market and we have a shared vision for the future of legal technology”, said Jay Leib, Reveal EVP of Innovation & Strategy. “Reveal’s global footprint and ability to deploy the Reveal solution in the cloud or on-premise enables us to rapidly expand the adoption of AI to tens of thousands of legal, risk and compliance professionals overnight. Our existing clients and partners should all be thrilled with our ability to expand our capabilities by joining Reveal.”
The NexLP acquisition is Reveal’s second major investment since Gallant Capital Partners, a Los Angelesbased investment firm, acquired a majority stake in Reveal in 2018. In June 2019, Reveal acquired Mindseye Solutions, an industry-leading processing and early case assessment software solution.
Terms of the transaction were not disclosed. Houlilhan Lokey served as financial advisor and Stradling Yocca Carlson & Rauth served as legal advisor to Reveal.
About Reveal Data Corporation
Reveal helps legal professionals solve complex discovery problems. As a cloud-based provider of eDiscovery software and services, Reveal offers the full range of processing, early case assessment, review and artificial intelligence capabilities. Reveal clients include Fortune 500 companies, legal service providers, government agencies and financial institutions in more than 40 countries across five continents. Featuring deployment options in the cloud or on-premise, an intuitive user design, multilingual user interfaces and the automatic detection of more than 160 languages, Reveal accelerates legal review, saving users time and money. For more information, visit http://www.revealdata.com.
NexLP’s Story Engine™ uses AI and machine learning to derive actionable insight from structured and unstructured data to help legal, corporate and compliance teams proactively mitigate risk and untapped opportunities faster and with a greater understanding of context. In 2014, NexLP was selected to be a member of TechStars Chicago. For more information, visit: http://www.nexlp.com.
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