We have some exciting news to share today: we’ve raised a $25 million Series B round! And we did it in just 17 days so that we could get back to work on making discovery instant and accessible for everyone.
NEA, one of the oldest, largest, and most respected venture capital firms in the world, led the round, with participation from previous investors OpenView Venture Partners and Storm Ventures. In backing Logikcull, NEA adds another fast-growing SaaS company to an impressive portfolio that has included Salesforce.com, Workday, and Mulesoft. NEA was also one of the first venture investors in Apple, way back when Jobs and Wozniak were working out of a garage. We’re welcoming NEA general partner Chetan Puttagunta to the Logikcull Board of Directors.
This is an exciting time for us and our customers, so I thought it would be appropriate to share some of my thoughts on the past and future of Logikcull.
Since we launched Logikcull.com in 2013, we have seen non-stop growth. Our customer base has doubled every year since we went live, but it was only in 2017 that things really took off. Our customers now host more than 1B pages of content in Logikcull, and this is growing at 10% month-over-month. We are on track to hit 1B new pages per month within 24 months. The amount of data uploaded into Logikcull is staggering. Individual uploads range in size from a few kilobytes to 175GB .zip files full of other .zip files and mailboxes. The average data uploaded is nearing 1TB per day. This is the result of democratizing discovery and growing our customer base by 500% in less than 12 months, growth that continues to accelerate. Along the way, we doubled our employee headcount in 2017, with Patrick Barry recently coming on board as our COO. The business is humming.
All of this is thanks to you: our customers and employees.
None of this would be possible without the support of the Logikcull community. The stories you have told us over the past few years have amazed and humbled us. Just this past year, we’ve heard about our customers leveraging Logikcull to accelerate much needed justice to more than 100 women who were sexually assaulted by Dr. Larry Nassar. We’ve heard about governments dramatically accelerating Freedom of Information (FOI) requests by using Logikcull. In one case, a major city in the US went from an average FOI turnaround time of three weeks to less than a day. Wow! We’ve also heard about pro se litigants using Logikcull to level the playing field against larger adversaries. One of those pro se litigants was seriously considering buying and configuring a six-figure eDiscovery product made in Chicago before doing a simple Google search, because to him, “there just had to be a better way.” He was right. Within 24 hours of finding Logikcull through Google, this pro se litigant had his data uploaded and organized for review. Three days later he was done. His cost? Under $200.
Our mission is to make discovery instant and accessible for everyone. We believe that quick access to discovery - the search for truth - is a fundamental right to every citizen of Earth. Because of this mission, Logikcull now has customers all over the world ranging in size from solo practitioners to the largest cities, states, law firms and Fortune 500 companies.
We’re just getting started. There’s so much more to do. Building a world-class software and service takes talent and time. Now we can continue heavily investing in both.
To make discovery truly instant, there can be no friction in using Logikcull... and yet today, Logikcull has a lot of friction. Sure, our customers no longer have to go through the arduous task of outsourcing their discovery to eDiscovery vendors, because Logikcull has automated the eDiscovery process from 3,000+ steps into 1 step: drag-n-drop. Still, there’s a lot more work for us to do.
Despite having an uptime of 99.999% in 2017, we still had some unplanned hiccups that caused Logikcull to slow down on occasion. This is unacceptable for our users and counter to our mission to make discovery instant. Many of our customers see Logikcull as “mission critical,” and a mission critical service should never go down. That’s our long term goal with Logikcull: zero downtime, period. No quarterly maintenance windows. No more reports of slow performance with tagging (rare, but it happened a few times in 2017). In 2018, we will continue to invest into our infrastructure by adding more redundancy and performance enhancements to the dozens of services running within Logikcull.
When we say instant discovery, we mean it. But we’re not there yet. The average upload into Logikcull is processed and loaded for review in under 2 hours, and the average download (AKA production) in Logikcull is completed in under 30 minutes. While these speeds are night-and-day faster than what our customers tolerated pre-Logikcull, they aren’t instantaneous. Occasionally, very large uploads (e.g. 175GB .zip files) and downloads (e.g. 5M pages) can take close to 24 hours to complete. In 2018, we will invest more into our processing pipeline to accelerate data processing to make it near-instant for any size of data. We’ll also invest more in people and product to make dramatic improvements in document viewer speed, tagging speed, search speed, and more.
Trust is all a business has to offer. Our customers trust Logikcull to keep their highly sensitive data safe and secure. In 2017, Logikcull became SOC2 Type I certified, a testament to our commitment to building a stronger security foundation for our customers. We also released a powerful and easy way to enforce two-factor authentication across a Logikcull account. And from Heartbleed to Meltdown, our InfoSec team successfully made the necessary security patches across Logikcull’s thousands of services in under 24 hours whenever a new threat emerged. But we still need to do more here. In 2018, we’ll invest heavily into the future of data security by expanding our InfoSec teams and adding more robust security services across the entire service of Logikcull.
Our Customer Success Team tripled in size in 2017. The average response time to an in-app question was lightning fast at under three minutes. While our customer base grew by 500% in less than 12 months, our Success Team still maintained a 97% customer satisfaction score. This world-class support is reflected in the hundreds of positive online reviews that have made Logikcull #1 on Gartner, G2Crowd, and Capterra. In 2018, we will continue to invest heavily into building out more world-class support and services for our customers, so you can get even faster and higher quality responses in the year to come.
We released dozens of new features and product improvements in 2017. Logikcull is a version-free software, which means our customers are always on the latest and greatest version: no point or version upgrades necessary. We know that our customers need certain features in order to get their work done faster and smarter. In 2018, we will add several engineering teams to work exclusively on various aspects of the app (document viewer, search engine, etc.). This investment will mean faster feature development across the entire platform.
In summary, the future of the Logikcull community is very bright, and it shines because of you: our customers and employees. Thank you for choosing Logikcull. Your investment in us has and will continue to pay off.
CEO & Co-Founder
P.S. We’re hiring for over 20 roles. Apply here: https://www.glassdoor.com/Jobs/Logikcull-Jobs-E1256051.htm