Posted by Nick Mehta on Sat, May 02, 2009 @ 07:59 PM
Clearwell Systems, a leading E-Discovery software vendor, reported 250% revenue growth and its first quarter of profitability, last week.
We at LiveOffice think highly of the Clearwell solution and find it to be very complementary to our email archiving software-as-a-service offerings.
But beyond feeling happiness for our friends and for some positive news during the recession, I am amazed at how much vendors in the email archiving and E-Discovery spaces are reporting continued growth despite the economic headwinds.
As we reported previously, our Q4 2008 was up 148% year-over-year. In addition, our Q1 2009 was a record in terms of revenue and number of transactions. Finally, as we have been for many years, we continue to be profitable each quarter.
And as I talk to my friends in the overall space of archiving and E-Discovery, I continue to hear similar stories. Customers are finding ways to keep these projects going because they save hard dollars and in some ways are becoming more important, with the increased regulatory scrutiny and litigation coming from the events of the past year.