Catalyst News
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Catalyst Announces Record Earnings for 2008
News 2009
Record growth is expected to continue for 2009 as electronic discovery volumes increase and corporations look to hosted repository providersDenver, January 28, 2009-Denver-based Catalyst Repository Systems, a leading international provider of hosted document repositories for large-scale review and discovery management, today announced record revenue and earnings for 2008. Founded in 2000, the company was a spinoff from Denver-based Holland & Hart, the largest law firm in the Rocky Mountain West. It was founded by former Holland & Hart partner and nationally-known trial lawyer John Tredennick. "I am pleased to report 70% growth for the company in 2008, which followed a 100% growth rate in 2007," announced John Tredennick, Catalyst's CEO. "We were also blessed with record earnings and cash flow in both years which allows us to keep developing our software and investing in our community. We have doubled in size in the last two years and now have more than 85 employees in the United States (mostly at our Denver headquarters). We also have another 10 full-time developers in Bangalore. We are continuing to hire even in this down economy to meet the growing needs of our clients." "We are especially thankful for our own growth and good fortune, but we are mindful of the tough economic times that most companies are facing these days," explained Catalyst CFO Lew Visscher. While no one can see the future, our business seems to be increasing into 2009, largely because our software helps corporations and law firms cut litigation costs, particularly when compared to the old way of managing electronic documents," he added. "Some of the biggest international companies in the world continue coming to us to host their legal documents and facilitate their reviews." Catalyst provides secure document repositories to help large corporations and their counsel search, analyze and review large volumes of discovery documents that must be produced for litigation and regulatory responses. The company manages a grid of hundreds of servers located in two Colorado data centers and hosts approximately 100 terabytes (over a billion pages) of sensitive data for large corporations and insurance companies. "The Internet revolution allows us to connect legal teams worldwide securely using a simple web browser," explained Larry Barela, Catalyst CTO "As the volumes of legal discovery documents expanded into the tens and hundreds of millions, clients suddenly needed large, scalable server grids and industrial-grade software to manage them. They also needed to connect review teams across the globe to analyze the documents. We have users logging in from places like China, Korea, Japan, India, the Philippines and even Quatar and other places in the Middle East. Facilitating global teams allows our corporate clients to assign review tasks to medical, legal and scientific experts no matter where they might be located in the world. It also allows our review teams to work around the clock because of time shifting. The sun never sets on the Catalyst empire, we like to say with a smile." Catalyst is a private company backed by Colorado and New York investors. It does not release financial figures but can report revenues in the 8 figure range. The company is audited by Price Waterhouse Coopers. About CatalystCatalyst is a private company backed by Colorado and New York investors that provides secure repository systems to help corporations and their counsel deal with the explosion of digital content and work together on complex legal, business and financial matters. Catalyst's products include:
Catalyst's products have been used for over a decade by many of the largest organizations in the world. For further information about Catalyst, please visit www.catalystsecure.com. Media Contact: Lew Visscher |