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NEW YORK--(BUSINESS WIRE)--Text IQ, the leading company applying artificial intelligence (AI) to identify sensitive data, today announced strong year-over-year product adoption, revenue growth and customer retention driven by accelerating digital transformation in the enterprise. Four key trends are propelling this growth, including the exploding volume of enterprise data, with nearly 80% being unstructured, the unstoppable migration to public cloud infrastructure, the exponential increase in data breach events, and the growing complexity of compliance with data privacy regulations around the world. Last year, the company more than doubled its recurring revenue and delivered significant value that resulted in 100% renewal from existing customers. It made a number of key leadership hires and added exceptional talent in all departments. It successfully launched its data breach response solution and significantly enhanced products already in the market. It transformed its annual in-person conference, The Inevitable, into a virtual event series that features Fortune 500 executives, industry thought leaders and top AI researchers, resulting in a 100x increase in audience. Accomplishing this record growth during a global pandemic is a testament to the strength of our team, the success of our products and, most importantly, to the substantial challenge of managing the exploding volume of unstructured data in complex enterprises, said Apoorv Agarwal, Text IQ co-founder and CEO. Our customers recognize that only Text IQs unstructured data platform can identify 99% of personal and other sensitive information without the need for human review, a huge increase in efficiency and accuracy in a time when every organization is on the hook to meet strict data privacy requirements. While data growth was already substantial, the amount of unstructured data in electronic documents, email and messaging apps has exploded in the last year due in part to remote work. Information that could once be exchanged face to face is now captured in systems that werent optimized for identifying and protecting sensitive information. Text IQs AI platform, powered by the companys proprietary socio-linguistic hypergraph, finds sensitive information, categorizes it and makes actionable the needles that were previously hidden in the haystack. Companies deploy Text IQ to reduce risk, increase efficiency and speed time-to-insight in the areas of privacy, compliance and legal review. Text IQs major accomplishments in the past year include: The company also strengthened its leadership ranks with executive appointments including: Referring to the new executives and talented employees who joined Text IQ in the last year, co-founder and COO Omar Haroun remarked, We are fortunate to have maintained our amazing level of talent in the company as we doubled in size. Every addition to the Text IQ team brings exceptional levels of excellence, dedication and customer-centricity, reinforcing our core values and allowing us to capitalize on a rapidly growing marketing opportunity and continually changing customer needs. Text IQs growth speaks to the exponential growth of data in complex enterprises and the corresponding difficulty of staying in control of sensitive information for legal, privacy and compliance purposes, said Matt Turck, partner at FirstMark and Text IQ board member. Text IQ powerfully solves this problem with breakthrough technology that is creating an entirely new category of AI for sensitive data. To learn more about Text IQ and stay updated on company news: About Text IQ Text IQ is a B2B technology company with a reimagined approach to using AI to manage and mitigate risks in enterprise data. Our Unstructured Data Platform helps Global 2000 and government organizations identify sensitive information, reveal hidden insights, and unlock the freedom to grow. The Text IQ Brain, powered by our Socio-Linguistic Hypergraph, uncovers 99% of sensitive information at a 75% reduction in cost and time, and is used at the worlds leading financial services, insurance, pharmaceutical and government organizations, including AstraZeneca, Novartis, Cardinal Health, Carnival, Honeywell, and the U.S. Department of Justice. Since its founding in 2014, Text IQ has achieved record revenue growth. Backed by FirstMark and Sierra Ventures, the company employs nearly 100 in New York, San Francisco, Vancouver and Cork, Ireland, and was recently recognized in the AI Top 100.

Answer: Text IQ Announces Banner Year of Enterprise Growth, Executive Appointments, New Products, and Strategic Partnerships The AI for Sensitive Data company more than doubles recurring revenue with a reimagined approach to managing and mitigating risks derived from enterprise data