BOXBOROUGH, MA, March 2, 2009—Digital Reef (www.digitalreefinc.com), one of Matrix Partners' and Pilot House Ventures' premier portfolio companies, today announces a new approach to discovering and managing unstructured and semi-structured data. The Digital Reef solution helps large enterprises deal with key business issues that cannot be properly addressed using traditional solutions. These issues include eDiscovery, data risk mitigation, knowledge reuse, and strategic storage initiatives—all of which stem from lack of control over unstructured data, and require a degree of scalability and performance that traditional solutions cannot provide.
Unstructured and semi-structured data in documents, spreadsheets, emails, and presentations account for up to 85 percent of enterprise data. As the volume of data expands unchecked, enterprises take on more expense and more risk. This is particularly true in the current economic climate, which is driving an increase in lawsuits and related electronic discovery initiatives—one area that clearly illustrates the risk and expense associated with unmanaged stores of unstructured data.
"Digital Reef has introduced a compelling solution at a critical time when the growth of unstructured data is burdening the enterprise with cost and risk," stated Tony Asaro, founder and senior consultant, The INI Group. "Unstructured data volumes are creating a dramatic negative impact on key business processes. What is needed is rapid access to relevant data for legal discovery and compliance audits as well as the ability to leverage existing intellectual property for extending competitive advantage."
Digital Reef was designed to rapidly address very large stores of unstructured data, without manual effort or disruption to data center or business activity. The Digital Reef solution provides enterprises a set of analysis and classification tools that allows them to manage critical data that they had little or no control over previously. It enables them to:
- Locate specific kinds of data, including sensitive data like Social Security and credit card numbers
- Identify regulated data for compliance
- Pinpoint relevant documents for pending legal action
- Find intellectual property that can be reused for competitive advantage
"Most large enterprises have spent years and invested millions of dollars developing, securing, and managing structured data in databases" stated Steve Akers, CEO and founder of Digital Reef. "With the majority of an enterprise's data assets in unstructured or semi-structured forms, these organizations need a way to maximize their information's value while minimizing its risk. Digital Reef will help them do just that."
Digital Reef is emerging from stealth mode after two years of developing its unstructured data management platform and achieving early customer traction under the name of Auraria Networks. Leading organizations in industries such as technology, law and legal services, management consulting, publishing, and government use Digital Reef to address issues such as early case assessment, storage reclamation, knowledge management, and data discovery for risk mitigation and compliance. Digital Reef, as Auraria Networks, recently received $10 million in B Round funding from Matrix Partners and Pilot House Ventures Group. Digital Reef solutions are now generally available. For more information call 978-893-1000 or visit www.digitalreefinc.com.
About Digital Reef
Digital Reef is a leading software provider helping Global 2000 companies with eDiscovery and Digital Information Governance. Both corporate and IT executives are challenged to find and manage the right information, at the right time necessary to respond to constant business demands such as government laws and regulations, corporate accountability and compliance, and IT digital file and storage policies. Using the industry’s most scalable and open Virtual Governance Warehouse, businesses can rapidly collect, analyze, and then govern information. Digital Reef gives businesses an unprecedented control of their information which can be derived from wherever it resides including emails, documents, repositories, and over 400 different types of files, including images. With Digital Reef, organizations have a standard, disciplined approach to continuously govern information for projects driven by Federal Rules of Civil Procedure, FTC false claims, Sarbanes-Oxley, SEC risk assessments, FDA approvals, and internal IT policies for digital information security, retention, and file management. Enterprises and their law firms, services providers, and consultants across all industries rely on Digital Reef for the fastest way to transform un-managed information into valuable assets. Founded in 2006, Digital Reef is headquartered in Boxborough, Mass. For more information call 978-893-1000 or visit www.digitalreefinc.com.