Nebula® achieves significant growth across the global eDiscovery landscape

Rhea-AI Summary

KLDiscovery Inc. (KLDiscovery) has announced the remarkable success and growth of its flagship eDiscovery product, Nebula®. Key growth metrics include a 100% revenue increase in Q3 2023, 11% customer growth, 20% user expansion, 15% matter growth, and a 35% surge in total data hosted across active Nebula projects. The platform is quickly becoming the platform of choice to address legal, compliance, and investigation needs, with cloud SaaS usage driving its growth.

Positive

• 100% revenue increase in Q3 2023
• 11% customer growth
• 20% user expansion
• 15% matter growth
• 35% surge in total data hosted across active Nebula projects

Negative

• None.

Rapid cloud adoption following years of investments into product enhancements, infrastructure, and AI are translating into stellar financial results as more customers choose the Nebula® eDiscovery platform over competing options.

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)-- KLDiscovery Inc. (“KLDiscovery”), a leading global provider of technology solutions for electronic discovery, information governance, and data management, announced today the remarkable success and growth of its flagship eDiscovery product, Nebula®. Unwavering investment and customer focus continue to drive major product advancements and increasing adoption within the legal community.

Nebula Key Growth Metrics Q3 2022 to Q3 2023 (as of September 30, 2023):

• Customer Growth: The number of customers relying on Nebula for legal and compliance matters has increased 11% to 1,682.
• User Expansion: The user base has grown 20% with 4,892 users actively utilizing Nebula worldwide.
• Matter Growth: The number of active Nebula matters has increased 15%, reaching a new milestone of 1,338 concurrent projects.
• Data Hosting: Total data hosted across active Nebula projects surged 35% to over 500TB globally.

This remarkable growth has translated to stellar financial performance. Nebula's revenue has increased by 100% in the third quarter of 2023, showcasing its financial strength and market competitiveness. September year-to-date Nebula revenue has seen a 57% increase year-over-year, further highlighting the platform’s sustained success and client trust.

“Nebula’s soaring adoption levels deliver a clear and undeniable message to the legal community: Nebula is quickly becoming the platform of choice to address legal, compliance, and investigation needs,” said Chris Weiler, CEO of KLDiscovery. “For matters large and small, and for practically any use-case, Nebula solves common data challenges with practicality, efficiency, and accuracy.”

Available both as a SaaS solution and as a maintenance-free rackmount appliance, Nebula can be utilized by any type of eDiscovery customer, in nearly any geography. Cloud SaaS usage has been the driving force behind Nebula's growth, accounting for the majority of all new engagements.

Nebula epitomizes the modern, cloud-native application boasting the latest in artificial intelligence and machine learning. KLDiscovery’s software development and data science teams have incorporated state-of-the-art technology throughout Nebula to enhance efficiencies, streamline user experiences, and drive favorable outcomes.

Explore Nebula and learn more about its transformative impact on the legal industry at https://www.ediscovery.com.

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About KLDiscovery

KLDiscovery provides technology-enabled services and software to help law firms, corporations, and government agencies solve complex data challenges. With offices in 25 locations across 16 countries, KLDiscovery is a global leader in delivering best-in-class data management, information governance, and eDiscovery solutions to support the litigation, regulatory compliance, and internal investigation needs of clients. Serving organizations for over 30 years, KLDiscovery offers data collection and forensic investigation, early case assessment, data processing, application software and data hosting for web-based document reviews, and managed document review services. In addition, through its global Ontrack data management business, KLDiscovery delivers world-class data recovery, disaster recovery, email extraction and restoration, data destruction, and tape management. KLDiscovery has been recognized as one of the fastest growing companies in North America by both Inc. Magazine (Inc. 5000) and Deloitte (Deloitte’s Technology Fast 500), and CEO Chris Weiler was a 2014 Ernst & Young Entrepreneur of the Year™. Additionally, KLDiscovery is a Relativity Certified Partner and maintains ISO/IEC 27001 Certified data centers around the world. Visit www.kldiscovery.com to learn more.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205157805/en/

Krystina Jones

888.811.3789

krystina.jones@kldiscovery.com

Source: KLDiscovery Inc.

FAQ

What is the name of the flagship eDiscovery product of KLDiscovery Inc.?

The flagship eDiscovery product of KLDiscovery Inc. is Nebula®.

What are the key growth metrics of Nebula® from Q3 2022 to Q3 2023?

The key growth metrics include a 100% revenue increase, 11% customer growth, 20% user expansion, 15% matter growth, and a 35% surge in total data hosted across active Nebula projects.

What is the total number of customers relying on Nebula® for legal and compliance matters?

The number of customers relying on Nebula for legal and compliance matters has increased by 11% to 1,682.

How much has the revenue of Nebula® increased in the third quarter of 2023?

Nebula's revenue has increased by 100% in the third quarter of 2023.

What is driving the growth of Nebula®?

Cloud SaaS usage has been the driving force behind Nebula's growth, accounting for the majority of all new engagements.

Who is the CEO of KLDiscovery Inc.?

The CEO of KLDiscovery Inc. is Chris Weiler.