StoredIQ: e-Discovery Appliance

StoredIQ has an appliance that scans and categorizes a variety of types of ESI. Its main use is as an e-discovery tool:

  • Scans and indexes:
    • Files, Exchange, Notes/Domino, SharePoint material
    • ECM repositories: Documentum
    • Email archives: Symantec Vault, EMC Email Xtender
  • Kazeon is main competition.
  • Has had $28M of external financing. Last round was in April 2009, for $8M.
  • Typical pricing: $250,000 plus maintenance for an appliance managing about 40TB of data. Pricing based on amount of information indexed.
  • Ferris estimates revenues at $3M-4M/year.
  • Company founded in 2001; active sales started in early 2007.

Observations:

  • Products such as Kazeon and StoredIQ are basically search engines, with several important add-ons:
    • Audit trails
    • A classifications system
    • Warnings about whether content can be deleted
  • The company claims its linguistic analysis is substantially superior to the industry norm of, roughly speaking, regular express pattern matching and boolean logic over content and metadata. If this is true, StoredIQ deserves to do well. The limited success of the company thus far suggests that the truth of the claim should not be taken for granted.
  • Many companies make claims about the superiority of their linguistic analysis. When one investigates the claims, they are usually incorrect.

... David Ferris

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