Email Intelligence Pioneer Clearwell Systems Announces $12 Million in Funding
Clearwell Email Intelligence Platform Builds Market Leadership, Delivers Unprecedented Results for Legal, Compliance and Customer Management Challenges
SANTA CLARA, Calif.—April 4, 2006—Clearwell Systems, Inc., a pioneer in the Email Intelligence market, today announced that the company has closed $12 million in its second round of funding. Redpoint Ventures led the oversubscribed financing, with participation from existing investor, Sequoia Capital. Clearwell will use the funds to expand its sales force, bolster marketing, and increase its investment in research and development.
“The pain enterprises face when dealing with email discovery and analysis is an overwhelming burden for IT, legal, and compliance teams,” said Tom Dyal, a founding partner of Redpoint Ventures. “The cost, time and inaccuracies associated with human review of email have led to high demand for Email Intelligence solutions. Clearwell’s early customer traction and superior technology position the company as the leader in a market with massive growth potential.”
“Since Clearwell’s last round of funding, the company has introduced its product to market, received endorsements from industry analysts, and announced several major customers,” said Aaref Hilaly, president and CEO of Clearwell Systems, Inc. “Investment from a leading venture firm is further validation of our vision and momentum. The funds will further grow Clearwell’s business and position the company as the leading provider of Email Intelligence solutions for legal, compliance, IT, and customer management.”
The Clearwell Email Intelligence Platform™ provides enterprises with a revolutionary approach to email analysis. Clearwell analyzes the unique properties of email, combines it with organizational data and applies patent-pending linguistic and statistical analysis algorithms to extract intelligence from email messages and attachments. The company’s initial solutions focus on regulatory compliance, legal discovery, and customer management, providing actionable intelligence across all business units.
ABOUT CLEARWELL SYSTEMS
Santa Clara, Calif.-based Clearwell Systems is transforming the way enterprises discover, organize and analyze the information across their corporate email systems. Clearwell enables business and IT executives to lower discovery costs, reduce fines, grow revenue and improve customer satisfaction. Fortune 500 companies—large energy companies, major financial institutions, leading high-technology companies, and global professional services organizations—have realized immediate and significant value within days of their production deployments. For more information, visit www.clearwellsystems.com.About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of Network Appliance, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of nVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube and Dominic Orr and Keerti Melkote of Aruba Wireless Networks. To learn more about Sequoia Capital visit www.sequoiacap.com.
Contact:
Jim Goetz
SEQUOIA CAPITAL
goetz@sequoiacap.com
