Medina Capital, a technology investment firm in Miami, and Dallas-based PureDiscovery announced Thursday a $9 million dollar investment and collaboration designed to disrupt the current “hunt and peck” method of Internet search. The investment is part of a $10-million Series C round of financing.
Building off of its track record in the legal industry, PureDiscovery will deploy the new capital to take its platform to the cloud and expand into new vertical markets. Medina Capital will advise PureDiscovery on cloud-enabling its semantic discovery platform and help formulate the company’s expanded go-to-market strategy.
“Every enterprise and government agency around the world today is faced with the challenge of analyzing extraordinary amounts of data and turning it into actionable intelligence that helps them achieve their goals,” said Manuel D. Medina, managing partner of Medina Capital, in a news release. “The Big Data challenge represents a significant market opportunity and PureDiscovery’s disruptive technology provides customers with an innovative solution to a critical business need.”
Medina Capital invests in high-growth IT infrastructure companies in areas such as cloud computing, cybersecurity and big data. The equity investment firm was founded by Medina, who founded, grew and sold Miami-based Terremark Worldwide.