RecordPoint

Founded in 2008, RecordPoint is a US-based company specializing in data lifecycle management and AI governance, providing solutions that ensure robust data governance and compliance across various sectors. RecordPoint, established in 2008 in Bellevue, US, focuses on enhancing data governance for organizations. The company was founded by industry experts with backgrounds in compliance and data management, although specific individual histories are not disclosed. RecordPoint has adapted its business strategies to address the complexities of data lifecycle management, catering to a range of sectors including financial services, public sector, and utilities.

The company has not reported any significant pivots in its operational focus or structure. RecordPoint specializes in data lifecycle management and AI governance, offering a comprehensive platform designed to manage, classify, and govern data throughout its entire lifecycle. The core functionalities include automated data classification, metadata enrichment, and policy-driven disposal, essential for organizations looking to mitigate risks associated with data management. Key use cases include enhancing data visibility, ensuring compliance with regulatory requirements, and facilitating the secure disposal of unnecessary records.

The platform serves a diverse client base, which includes highly regulated organizations in sectors such as financial services, public sector, and energy and utilities, among others. RecordPoint’s solutions are utilized across various geographical markets, including Australia, North America, and Europe, catering to clients seeking robust governance over both structured and unstructured data. RecordPoint generates revenue primarily through subscription-based models, allowing clients to access its data governance platform. Clients engage in annual or multi-year subscription agreements that grant them comprehensive access to the suite of services offered, including data discovery and classification, risk detection and reporting, and compliance management.

The pricing structure is typically tiered, reflecting the scale and complexity of the client's data environment. As organizations increasingly prioritize data security and compliance, RecordPoint's subscription offerings align with the growing demand for effective data lifecycle management solutions. These transactions are structured to foster long-term partnerships, ensuring ongoing support and enhancements tailored to the evolving needs of its clientele. RecordPoint is focused on expanding its product offerings and market reach.

The company plans to launch new enhancements to its platform to address emerging data governance needs by Q4 2024. Additionally, it aims to expand into new geographic regions, specifically targeting markets in Asia and Europe by the end of 2025. The recent funding will be utilized to support these initiatives, enhancing product development and enabling entry into these new markets.