The U.S. Securities and Exchange Commission (SEC) Awards Casepoint 5-Year Contract Extension for AI-Powered SaaS Data Discovery Platform

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Sep 24, 2024, 08:41 ET

Casepoint secures recompete to continue helping the SEC with regulatory enforcement, compliance, investigations, and litigation.

TYSONS, Va., Sept. 24, 2024 /PRNewswire/ -- The U.S. Securities and Exchange Commission (SEC) has awarded Casepoint a five-year contract for its cloud-based data discovery platform and related services. Casepoint — the industry leader in data discovery technology for litigation, investigations, and FOIA — was chosen to continue helping the SEC drive efficiency while meeting technical and security requirements.

"We're thrilled for the opportunity to continue building our partnership with the SEC," Amy Hilbert, Executive Vice President of Government at Casepoint, said. "We take great pride in providing an efficient, scalable solution that meets the agency's needs."

The SEC evaluated several technology offerings through a rigorous RFQ process. Criteria included technology architecture and overall software capabilities, management and product support capabilities, and past performance with similar size, scope, and complexity of the SEC's needs.

Size: The SEC estimates that 800 TB of electronic data will be stored in Casepoint by the end of fiscal year 2024. Currently, there are 2,800 SEC matters in Casepoint.
Scope: Regulatory, compliance, investigations, litigation, and data storage environment with a large existing case volume and 3,250 new productions (10 TB) each month.
Complexity: Support 4,200 users across Washington, D.C. headquarters and 11 regional offices with a wide variety of complex data types and unique workflows.

Users must be able to access the platform securely via SEC remote access tools, and the solution has to maintain Federal Risk and Authorization Management Program (FedRAMP) Authorization. The SEC also sought data analysis and visualization enhancements in the application along with predictive analytical capabilities like artificial intelligence (AI), continuous active learning, clustering, and technology-assisted review.

"Our advanced software hosts more sensitive mission-critical data and processes it faster than anyone else in the industry," Hilbert said. "We couldn't be happier to support the SEC's critical mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation."

As more government agencies look to move to modern, cloud-based solutions, Casepoint's configurable SaaS platform, paired with its extensive experience working with government agencies, forms a reliable end-to-end data discovery solution. The platform's role-based access, which supports single sign-on and multi-factor authentication, enables secure cross-team collaboration. The platform also features built-in legal hold capabilities, customized workflows, and powerful AI to automate the analysis of large volumes of complex data for increased cost savings and efficiency, all while fulfilling the agency's critical need for data security.

About Casepoint

Casepoint is the trusted data discovery platform for large corporations and government agencies. Leveraging the power of AI and advanced analytics, its end-to-end platform empowers teams to seamlessly collect, preserve, and discover vast amounts of data from diverse sources, enabling secure data-responsive workflows at enterprise scale.

From legal hold and data preservation to cloud collections and eDiscovery, Casepoint streamlines everything from litigation, investigations, and compliance to Congressional Inquiries or Freedom of Information Act (FOIA) requests. With unmatched military-grade security, enterprises can manage their data confidently, enhance efficiency, mitigate risk, and meet reporting and compliance obligations with ease.

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SOURCE Casepoint