Nashville-Based cicayda Announces B-round of $3.8 million to Expand Operations
January 31, 2014 - Nashville, Tennessee - CEO Roe Frazer reports that cicayda llc, a Nashville-based software and services company focused on the legal and eDiscovery market, successfully has raised and closed $3.8 million in a B-round of capital investment. Coinciding with this is the launch of cicayda’s new product offerings and enhanced sales operations.
“We have added even more all-star, strategic investors in this B-round,” says Frazer. Not only did we add investors from New York to Chattanooga, but our A-round investors also re-invested. With this round of investment, we are poised to move into the revenue life cycle of our company.”
cicayda features a suite of software applications set on a proprietary search platform. Secured in a private cloud, cicayda’s first apps focus on the huge need for better workflow in electronic discovery in civil litigation. Its “staccato” app is an Early Case Assessment software that culls data to what is needed and allows attorneys to take a deep dive into the costs and risks of litigation early on in the life of a case. cicayda’s “drone” app is designed and priced for every lawyer – it gives solo attorneys to AmLaw 100 law firms an instant analysis of all the important relationships in a data production set. And, cicayda’s first product, fermata legal hold, features 50+ updates that allows companies to orchestrate a perfect litigation hold process.
cicayda deployed its first proceeds of its A-round to hire an A-list of group of developers centered on using the most advanced open-source programming language called “clojure”. cicayda has grown to almost 25 employees in its downtown Nashville office less than two years, and maintains a hub office in Minneapolis. cicayda employs remote sales professionals in Salt Lake City, Minneapolis, Chicago, Boston, Dallas, and Austin. cicayda also has channel partners in Baltimore, New York, Louisville, and London, U.K. Frazer's earlier venture, CaseLogistix, is one of the fastest growing review products in Thomson Reuters’ suite of law office products. Frazer states: “We are keeping this B-round open through February 20, as we have had such high interest in our company, especially as we head out to Legal Tech New York next week.” Frazer says 2014 will be a big year for cicayda: “We plan to roll out what we are calling a “circular review” product, as well as an M&A workflow product leveraged by our incredible search engine.” cicayda is now offering high level professional legal consulting services led by its Knowledge Strategist and Vanderbilt Law Professor, Marc Jenkins. For more information on cicayda, go to cicayda.com.
For more information on the foregoing, contact Roe Frazer at roe@cicayda.com.
About cicayda
cicayda delivers hosted eDiscovery software applications, professional managed litigation support services, and eDiscovery consulting and auditing. cicayda is led by experienced legal technology executives, CEO Roe Frazer, CTO Jason Cox, and eDiscovery pros with a combined 150 years of litigation experience. cicayda’s disruptive eDiscovery apps include litigation hold management, data culling and processing, early case assessment, review, production, production analysis, search, and advanced natural language text analytics. cicayda's eDiscovery software exhibits best-in-class speed and ease of use, while empowering intelligent lawyering. We deliver better value and quality, transparently, with no up-front fees and no long-term contracts. cicayda is better, faster, affordable, and always reliable.
For more information contact Frankie@cicayda.com or simply drop by booth 524 at Legal Tech New York and meet our CEO and team.
By Guest Blogger: Cicayda
