Relativity IQ AI 100M Dallke Chicago BusinessJournal, the developer of TextIQ, is raising funds. The company is headquartered in Chicago and the funds will go towards its expansion. In addition, it is planning to move its HQ to the city.
Relativity IQ AI 100M Dallke Chicago BusinessJournal, a Chicago-based company, has acquired Text IQ, an AI-powered privacy technology provider. The deal will enable the company to expand into data privacy and compliance. It will also help speed up the evolution of its product suite.
Identify Sensitive Information
Text IQ, which was founded in 2014, is an AI-powered technology provider that helps businesses identify sensitive information and reduce the risk of privileged information sharing. Text IQ uses deep learning models to systematically identify sensitive information in unstructured data sets. In addition to helping businesses detect, manage and protect PII, its products are used by government organizations to uncover sensitive data.
Text IQ’s Core Capabilities
Text IQ’s core capabilities will be incorporated into RelativityOne, the company’s flagship product. Using Text IQ’s deep learning models, the platform can quickly and accurately identify the context of people within unstructured data. Moreover, its hypergraph can extract relationships between individuals and their surroundings. This allows the platform to uncover 99% of the PII contained in a data set.
Deep Learning Models Improve
Using Text IQ’s technology, companies can automatically tag documents, which helps them better respond to DSARs and reduce the costs associated with identifying privileged documents. Furthermore, Text IQ’s deep learning models improve in real time, allowing the platform to scale across large data sets.
Illinois Tech Company
Relativity Iq, an Illinois tech company, recently acquired the Text IQ artificial intelligence technology provider. With a valuation of at least $100 million, this is a major deal. The new entity will integrate Text IQ’s AI into its own suite of legal technology offerings. This will likely boost Relativity’s growth prospects.
Text IQ is a relatively young company. Founded in 2014, the firm has raised over $15 million in funding. Among other things, it boasts the eDiscovery Manager, a sophisticated data analysis solution allowing for a more granular approach to eDiscovery. In the era of Big Data, the eDiscovery manager enables law firms to quickly and efficiently analyze massive data sets.
University of Chicago
The most recent round of funding was led by the University of Chicago venture fund. In addition to the latest round of funding, Text IQ has also received a major investment from Silver Lake. Known as the “Big Apple” of the technology world, Silver Lake’s triumvirate of partners includes Hyde Park Venture Partners, GV, and Microsoft.
Relativity IQ AI 100M Dallke Chicago BusinessJournal, the Chicago tech company, recently sold a piece of its business to private equity firm Silver Lake. This is the latest in a string of recent acquisitions that includes electronic discovery app LawNet and the cloud-based chat software maker VerQu. As the name suggests, Relativity has been a player in the legal technology space for over a decade, assisting thousands of firms around the globe in achieving their data management goals.
Fastest Growing Private Companies
Notably, the company is also named among the fastest growing private companies in Illinois. The company’s most recent round of funding was helmed by the University of Chicago’s venture fund. It has a modest headcount of over 1,300, but the company is widely considered a prime candidate for an IPO. In the last few years, the company has made several major moves in the AI and big data space, notably, its purchase of the verve cloud platform and its integration of the mighty VerQu into the Relativity stack.
Relativity, an e-discovery company, is expanding to Chicago. It has plans for a new headquarters in the city. The company is a global leader in the legal technology market.
Relativity E-Discovery Platform
The firm’s core product is the Relativity IQ AI 100M Dallke Chicago BusinessJournal e-discovery platform, which helps customers quickly identify and address issues during internal investigations and litigation. In addition to e-discovery software, the company also serves as an information management and compliance solution.
After launching in the United States in 2005, Relativity has expanded to several other locations in the country and abroad. Currently, the company’s offices are in six states. It has a global presence and is included in the Tech IPO Pipeline.
The new headquarters will include lab space and a machine shop. There will be enough room to accommodate 2,000 employees. This facility will also feature a mission control center.
According to the company, the move to Chicago will enable the company to continue to expand globally. In fact, the firm plans to add 200 more employees by the end of the year. They also expect to expand their presence in South Africa.