KLDiscovery Investments Lead to a Record-Breaking Year in 2023

The year 2023 stands as a historic milestone for the Company, showcasing not only unprecedented revenue attainment but also significant advancements in its software offerings, client services, and data management capabilities.

EDEN PRAIRIE, MN. – April 9, 2024 – (BUSINESS WIRE) KLDiscovery Inc. (“KLDiscovery” or the “Company”), a global leader in data management, information governance, eDiscovery, and advisory services solutions, proudly announces a landmark year in 2023, characterized by the highest revenue attainment and EBITDA in Company history. Ongoing investments in people, processes, technology, acquisitions, and innovative programs gave rise to this remarkable performance.

In 2023, through strategic foresight and dedication to continuous improvement, the Company’s software saw significant expansion and growth.

• Revenue grew 62% year over year for Nebula^®, the platform of choice to address legal, compliance, and investigation needs.
• Client Portal^™, offering business intelligence for greater visibility and control across matters, expanded available metrics and features, providing proactive insights for informed decision making and raising the standards of client support in the legal industry.
• ReadySuite^®, multipurpose legal software for managing document volumes, production sets, and eDiscovery workflows, added powerful new features and upgrades empowering clients to leverage built-in RSMF collection and conversion tools to view, manage, and validate modern chat data.
• Ontrack Desk Data Recovery Software launched in 2023 empowering customers to recover data from many common data loss situations—including recovering up to 1GB of lost data at no cost.

With continued investments in its operations, KLDiscovery delivered impressive statistics in 2023, showcasing the Company’s reputation as the trusted partner of choice for supporting large and complex matters.

• Processing and Production
  KLDiscovery processed 1.3 petabytes of client data across all supported platforms, setting an all-time Company record for the largest amount of data processed in any given year.
• Production
  KLDiscovery produced 128 million documents / 334 million pages of client data—48% more documents and pages produced than in 2022 thanks to investments made in internal tools allowing for greater efficiency and faster turnaround times.
• Hosting
  Our hosted footprint significantly grew year-over-year, with particularly strong growth from Nebula which increased 32% year-over-year.
• Data Recovery
  Ontrack engineers recovered 17+ petabytes of data in 2023 ranging from single drives and RAID servers to cloud servers and ransomware data recovery.
• Information Security
  Adding to its existing certifications, registrations, and compliances, KLDiscovery earned six new information and data security certifications and compliances in 2023, furthering the Company’s commitment to ensuring the highest level of protection for sensitive and confidential data.

The Company also made sizable investments in innovative programs enabling organizations to partner with KLDiscovery in multiple ways. In 2023, KLDiscovery launched a first-of-its-kind eDiscovery franchise program in the US. This program serves as the gateway for legal entrepreneurs and adjacent companies to flourish in the eDiscovery domain, with access to KLDiscovery’s proven business model, established brand, global footprint, innovative technology, and 24/7/365 support. KLDiscovery’s partner programs include SaaS offerings, inclusive of Nebula, Relativity Server, and Relativity One, crafted to reduce operational costs and infrastructure needs, providing scalable paths to growth with multiple delivery options. Additionally, the Ontrack Authorized Partner Program provides opportunities for organizations in the IT service, education, and government sectors with benefits ranging from new revenue streams to unparalleled access to a global network of engineering and R&D expertise.

In Q4 2023, KLDiscovery completed the acquisition of Cenza, an India-based alternative legal services provider (ALSP) significantly boosting the Company's foothold in the Contract Lifecycle Management (CLM) and legal AI-driven solutions market in addition to allowing the Company to expand its world-class Managed Review offering to India.

"Our achievements in 2023 are a testament to our team's hard work, innovation, and dedication to excellence," said Chris Weiler, CEO of KLDiscovery. "We made remarkable progress on our strategic initiatives leading to record revenue attainment and EBITDA. Looking ahead, we remain committed to driving growth, fostering strategic partnerships, and continuing to invest in legal technologies and services to empower our clients and partners worldwide."

With its eye firmly on the future, KLDiscovery is poised for further growth and innovation. The Company's investments in its people, technology, and services signal a steadfast commitment to not only sustain, but also enhance its legacy of excellence in the legal technology and data recovery industries.

To learn more about KLDiscovery’s investments and achievements in 2023, please visit the Company’s blog. Explore KLDiscovery’s legal software and services on the Company’s website.