A company that says it has developed a “revolutionary” SaaS tool to automate the remote collection and analysis of mobile data from smartphones and short-message chat applications has completed its seed funding round of over $1 million.
The company, ModeOne, was founded by its CEO, Matthew Rasmussen, a litigation support and technology professional with two decades of experience working at large, global law firms and leading litigation services companies. Before founding the company, he worked at O’Melveny & Myers in Los Angeles and was previously project manager at the legal process outsourcing company UnitedLex.
Rasmussen said he was inspired to launch ModeOne to address the challenges associated with traditional methods of collecting and analyzing digital data stored on mobile phones and short-message chat applications. He and the attorneys he supported grew frustrated with slow, labor-intensive service delivery and extremely high cost.
The product they developed is a self-service, fully remote mobile data acquisition solution with global reach. Its SaaS technology helps clients target, collect and review digital data and short-message chat information quickly, accurately and with cost-certainty, the company says. According to its website, product features include:
- Fully remote data acquisition, allowing users to collect data 25 times faster than through traditional methods.
- Targeted acquisition to collect only the data you need while excluding personal data such as photos, notes and emails.
- Rapid availability of data within hours of collection.
- Flat-fee pricing for accurate budgeting.
The seed round capital was raised from three investors: David Marroso, a senior litigation partner with O’Melveny & Myers; Dr. Andrew Langroudi, a foot and ankle surgeon and sports medicine specialist; and Gregory Mazares, a senior executive with over 30 years of experience in litigation services and technology.
Rasmussen said the funding will be used to hire key management and client service personnel, execute marketing and communications strategies, and complete priority product enhancements.
The three investors have joined the company’s board of directors, with Mazares also serving as executive chairman.