Legal Data Company Modus Raises $10 Million In Funding
Lawyers can get burned out with too much data. Legal data startup Modus has raised $10 million in funding to continue their expansion, according to VentureBeat. Harbert Management Corporation and Azalea Capital led this round of funding. Modus founder and CEO Abtin Buergari also participated in this round.
Modus’ enterprise technology makes the process of reviewing data much easier. Modus works with legal companies on a fixed-fee basis to help them determine the information that is needed.
The “discovery” process involves plaintiffs and defendants exchanging information and evidence before a trial begins. The evidence includes documents, depositions, and admissions. This data can be very lengthy. Modus’ clients consult with them for project advice and ways to predict/control costs. Modus’ centralized platform makes it possible to access one system for review rather than transferring data between systems. Modus can collect and process the electronic files.
Buergari used to work as a legal assistant at a law firm in Washington D.C. He also worked as a liaison with the eDiscovery department. Buergari noticed that there were some major issues with the way that eDiscovery worked. Law firms and vendors ended up being billed a very high amount for using eDiscovery’s processes.