Meet Onna: The AI-Driven Knowledge Integration Platform Taking On The eDiscovery Industry
If you have been working for more than a decade, you’ve undoubtedly experienced the rapid transformation of today’s workplace — and the myriad of platforms that have become an integral part of the way we work.
And as the day-to-day usage of platforms covering anything from collaboration, instant messaging to document storing continues to grow and evolve, so does the complexity of making sense of this data proliferation for companies with high legal and compliance requirements.
Which leads us to share our news today: Nauta Capital’s $5 million investment in Onna — a knowledge integration platform for legal departments.
Founded in 2015, with offices in San Francisco and Barcelona, Onna enables enterprise information management through integrations with major services and storage repositories such as G Suite, Office 365, Dropbox, Slack and Confluence.
Onna offers smart search capabilities (such as image entity extraction) whereby a set of pre-trained AI models are able to automatically classify certain types of documents such as contracts, NDAs, Passports, Agreements etc. What’s more, the platform’s deep learning algorithms also let companies train their own AI models.
Tackling the eDiscovery (1) market within legal departments — estimated to cost large companies tens of millions of dollars per year — Onna’s platform not only saves time and money for its enterprise clients but the platform processes and indexes the repository in a compliant way.
In addition to innovating a large, previously undisrupted market, Onna’s business model fits well with our capital efficiency investment thesis.
The team have found a solid product-market fit and already have the likes of Facebook, Twilio and Electronic Arts as customers.
Moreover, the company is led by a brilliant team of operators.
As the lead investor, Nauta’s General Partner, Jordi Vinas, will be on Onna’s board to work closely with Onna’s senior team as they use the investment to expand globally and integrate with even more platforms.
Read more about the news here.
- eDiscovery, is the electronic aspect of identifying, collecting and producing electronically stored information in response to a request for legal proceedings.