HOUSTON--(BUSINESS WIRE)--Cloud discovery leader DISCO is on top. Following the most successful first quarter in the company’s history with a 150 percent growth over Q1 2017, 2018 is on track to be the company’s most successful year to date. Fueled by new customer acquisitions, customer growth, technological innovations and an unrivaled team of industry professionals, the momentum for DISCO continues to accelerate.
“We kicked off 2018 with industry-leading product innovation, an influx of growth funding and hiring top talent -- the market took notice, and our customer base continues to explode,” said Kiwi Camara, DISCO founder and CEO. “Beyond our superior technology, law firms and legal departments recognize that DISCO truly understands the unique challenges they are facing, and that we go beyond the competition in delivering the products and services that meet their needs and transform their discovery processes.”
The company’s impressive 170 percent organic revenue growth in 2017 allowed DISCO to start the year off aggressively with key hires and team expansion across engineering, sales, and marketing. DISCO capitalized on this additional expertise and talent to drive technological innovation, first-to-market product advancements, and strengthened customer service.
“During our recent search to find a new ediscovery solution, we saw products such as Relativity as having the wrong economics and as too complicated to be an effective tool in our practice. Once we saw DISCO in action, we knew it was the right fit,” said Denise De Mory, Managing Partner, Bunsow De Mory. “We've since switched to using DISCO on all of our cases. It is very exciting to finally be able to access and leverage documents in a meaningful way!”
Customer Wins, Renewals and Expansions Accelerate Growth
In Q1 2018, DISCO grew revenues 150 percent year-over-year, and increased the number of new matters created by 151 percent. DISCO also grew its headcount by a staggering 100 percent from the same time last year to help meet the demands of their monumental growth.
Not only is DISCO actively bringing on new customers from AmLaw 200, litigation boutiques and corporate legal departments, but DISCO is also experiencing more and more customers moving away from traditional transactional engagements for firm-wide, multi-year subscriptions. These engagements empower customers to realize additional cost savings from DISCO's flat-fee pricing model for both review and professional services.
“We have adopted DISCO as our in-house solution for document and discovery management. DISCO’s ease of use, speed, and robust search tools have made early case management and document production much easier,” said Marissa Downs, Principal, Much Shelist, P.C. “Overall, I have loved my DISCO experience. It is fast, easily scalable to large-scale document reviews, and easy to master. I cannot imagine any other way.”
Customers are also embracing DISCO's flat-fee professional services packages, introduced in the first quarter of this year, that replace traditional professional service hours to maximize their use of technology investments and drive the greatest benefits from their discovery solutions.
Product Innovations Continue to Differentiate DISCO From the Competition
Customers select DISCO due to its superior technology, cutting-edge features and functionality, and demonstrated benefits over the competition including speed and cost savings. For example, Rapid Ingest File Transfer (RIFT), released early this year, transforms how customers securely collect, transfer and ingest data for ediscovery review with a 14x improvement over traditional file transfer methods and a 10 percent improvement over leading file transfer acceleration technologies.
DISCO’s artificial intelligence capabilities continue to attract new customers that are looking to apply the latest advancements in machine learning and cloud computing to solve the complex data analysis challenges presented in the practice of law. As a result, legal professionals are dramatically reducing the time, burden, and costs of ediscovery.
“Recently, the ediscovery market has seen rapid consolidation and less dedication from pure play discovery vendors. The ediscovery market continues to be driven by a demand for predictable pricing and efficient full solutions,” said Ryan O’Leary, IDC senior research analyst. “As a result, agile, hyper-focused, and born-in-the-cloud companies that remain dedicated to providing quality ediscovery services are well positioned in the market.”
DISCO is the leading provider of ediscovery solutions for law firms, corporations, and government agencies. With technology and services that automate and simplify complex and error-prone tasks that distract from practicing law, DISCO empowers lawyers and their teams to effectively manage discovery processes. DISCO is the ediscovery choice of leading U.S. law firms including litigation boutiques and AmLaw, Fortune 500 companies, as well as government agencies around the world.