FineTooth® (www.finetooth.com), a provider of contract management solutions, announced it has completed its first-round funding and has raised $4.5 million to expand its rapidly growing business.
Austin, TX (PRWEB) October 19, 2006 -- FineTooth® (www.finetooth.com), a provider of contract management solutions, announced it has completed its first round funding and raised $4.5 million to expand its rapidly growing business. This round of funding, provided by a group of private investors, will be used to facilitate further development and market growth.
Launched in 2005, FineTooth is built on over a decade of experience in the specialties of text-mining and data management. The company is now applying its advanced, linguistics-based abstraction technology, called DeepReader™, to the world of contract management. “Contracts are complicated legal documents, and each one is unique. DeepReader allows us to capture and manage a complete set of information, and it does it all programmatically. While many vendors offer a small set of common contract data like parties and key dates, our automation advantage rapidly and cost effectively expands the quality and quantity of the information that can be extracted,” says Jamie Lagarde, FineTooth President and COO.
Once contract data has been extracted, FineTooth compiles all of the data into an on-demand, Web-based repository that allows stakeholders to manage critical contract terms electronically.
About FineTooth
Based in Austin, Texas, FineTooth enables companies to effectively manage both buy-side and sell-side contracts via an on-demand, Web-based solution. FineTooth has applied over a decade of experience in text mining and linguistic search technologies to identify and extract the important business information in contracts, thereby eliminating manual abstraction. The solution helps clients track their obligations and entitlements resulting in tighter spend-management, better regulatory compliance, improved risk management and maximized revenue. FineTooth currently manages over 50 million documents for clients around the world.
For additional information on FineTooth, please visit http://www.finetooth.com.
Source: FineTooth
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