Columbia’s Text IQ has been bought by Relativity for an undisclosed amount.
Text IQ, a US-based enterprise data analysis technology developer based on research at Columbia University, has been acquired by legal and compliance technology producer Relativity.
Founded in 2014, Text IQ uses a combination of natural language processing, deep learning, graphical modelling, machine learning and social network analysis to manage and mitigate risks in enterprise data.
Applications include managing legal privilege review, increasing the accuracy of data breach response workflows and identifying personally identifiable information. The spinout builds on the PhD thesis of co-founder and chief executive Apoorv Agarwal.
Text IQ will continue to market its offering following the acquisition.
The spinout most recently secured an undisclosed amount from Silver Lake in March 2021.
FirstMark Capital led a $12.6m series A round for Text IQ in June 2019, with participation from Sierra Ventures.
Intel Capital was also a backer of Text IQ, but it is unclear when the chipmaker’s corporate venture capital division invested.
