Relativity acquires Text IQ
Relativity, a global legal and compliance technology company, is acquiring Text IQ, an AI company applying artificial intelligence (AI) to identify sensitive data, allowing the company to accelerate the pace of its innovation.
“We’re merely scratching the surface of what the application of AI to our industry can mean. Our customers recognize that while AI offers immense possibility, it must be thoughtfully designed and applied to address use cases that yield specific business outcomes,” said Mike Gamson, chief executive officer at Relativity. “We know that Text IQ’s proven technology, coupled with its incredible team of talented professionals, will be a wonderful addition to Relativity and help us deliver even more value to our customers.”
Relativity’s global network of partners that provide project-based support and managed services, including consulting, data management, legal, compliance, and consulting services will benefit from this acquisition.
Offering Text IQ to Relativity’s partner community will provide them with an even stronger AI toolset to deliver more value across the e-discovery lifecycle and solve a wider array of data challenges for their customers.
Text IQ will continue to focus on selling to and servicing the industry and its customers and innovating its technology.
It will work with the Relativity team to build a seamless integration between its products while also embedding some of its core capabilities to improve existing AI and ML functionality in RelativityOne and Relativity Trace—providing Relativity’s 300,000 users with access to Text IQ’s leading AI capabilities.
In addition to accelerating the pace of innovation in RelativityOne and Relativity Trace, Text IQ’s unique approach to AI and ML and its product offerings will expand the legal and compliance challenges that Relativity can solve for its customers, like privilege reviews.
Conducting privilege reviews can take thousands of hours and is prone to human error – leaving enterprises open to risk of sharing privileged information. Text IQ’s flagship product reduces the time and cost of conducting privilege document reviews by up to 75%, and significantly reduces the associated risk, according to the vendor.
Text IQ leverages the latest in unsupervised machine learning, graphical modeling, social network analysis, natural language processing, and deep learning to create AI solutions that help some of the world’s largest enterprises to manage and mitigate risks in enterprise data.
Text IQ’s AI helps to lower the cost and risk of legal privilege review, speed up and increase the accuracy of data breach response workflows, and quickly identify and manage personally identifiable information which are often associated with the EU's Global Data Protection Regulation, and data subject access requests.
“Most of the industry’s legal and compliance data already live within the Relativity ecosystem, which adds to our excitement around increasing Relativity’s customers’ access to our AI models,” said Apoorv Agarwal, co-founder and chief executive officer at Text IQ. “The fusion of our companies and technology will deliver on the promise of AI in a way that our industry has yet to experience all while ensuring that ethical and unbiased AI is at the core of everything that we do.”
For more information about this news, visit www.relativity.com.