H5 Closes Third Tranche of Oversubscribed B-Round
SAN FRANCISCO, CA - March 14, 2004 - H5, a leading developer of information discovery, analytic and threat detection applications, today announced the closing of the company’s oversubscribed third tranche of Series B venture financing. The third tranche was part of the Series B financing round led by Draper Fisher Jurvetson. Among investors participating in this third tranche were several of the company’s existing investors, including Draper Fisher and John C. Dean, the former Chairman of Silicon Valley Bank, as well as new investor Zap VC. H5 will use the proceeds to continue business development, sales and marketing activities.
"This additional funding will allow us to capitalize on the momentum we have generated for our Accelerated Document Review services," said Nicolas Economou, CEO of H5. "The fact that this third tranche was oversubscribed is a testament to the strength of the company’s value proposition for the marketplace and the strength of our financial backing."
The company’s flagship offering, H5 Accelerated Document Review, is a technologically advanced, fixed-price, date-certain, quality-benchmarked service that enables legal teams to complete document review 50% faster, 50% more accurately, and at a 50% lower cost than otherwise possible. H5 Accelerated Document Review is delivered via a sophisticated combination of professional services and patented artificial intelligence technology first used and validated in the U.S. intelligence community. Equipped with the means to more rapidly identify key documents in document intensive litigation, law firms and corporate counsels quickly gain the strategic knowledge advantage necessary to devise case strategy and successfully litigate or advantageously settle.
About H5
H5 provides automated document review and information risk management services to Fortune 500 companies and their outside counsel for their litigation, preservation, and compliance needs. By combining advanced proprietary technologies with professional services and process design expertise, H5 delivers a fully integrated review system that is customized for each client’s needs—a system that is unparalleled in performance and backed by proof. As a result, law firms and corporate legal departments are able to demonstrably reduce the cost, risk, and time to completion typically associated with large-scale document review. For more information, visit www.h5.com.