The Hindu Business Line : Stratify Software plans to invest $10 m in India

Bangalore, Sept. 2 Stratify Software, formerly known as PurpleYogi, plans to invest $10 million in the next two years on its expansion in India. This US-based company, led by Indians, also plans to acquire a suitable legal process outsourcing (LPO) firm, its India operations General Manager, Mr Parveen Mittal, revealed to Business Line.

From the early Internet days and the high-brand-recall, PurpleYogi to the sober and profitable Stratify, the company has transformed in more ways than one. “We used to have a consumer focus. We have now chosen to target corporates and primarily the legal sector. While underlying technology—electronic discovery—is the same, its applications have changed.”

Statistical Analysis

E-discovery was a $1.9 billion market in 2006 and is projected to grow to $4.07 billion in 2009, according to a Socha-Gelbmann report. Version 8.0 of Stratify’s Legal Discovery—a knowledge management tool tailored for the legal industry—will be out soon.

It uses statistical analysis to find patterns of words (compatible with major languages) and then organises PDFs, documents, mails, and 400 formats in which data is stored, to make it easier for attorneys and reviewers to act on information. “We help separate the wheat from the chaff,” explained Mr Sanjeev Srivastav, Vice-President, Professional and Data Services, Stratify Software.

The firm is expanding into a 350-seater facility and a data centre has been set up with an investment of $0.5 million in the city. “With projects coming in from APAC clients, we realised the need to have a second data centre in India,” he said.

The firm’s 180 employees handle 200 projects, a majority of which are from law firms in the US. The firm will foray into LPO by acquiring a running Indian LPO firm worth $5-10 million, with about 200 staff, he said.