. It is a quality business with +30% EBITDA margins and subscription business with renewing customers – most of whom are the big end of town (big 4 and the like) in their eDiscovery business.
Who We Are
Nuix creates innovative software that empowers organizations to simply and quickly find the truth from any data in a digital world.
www.nuix.com
It has more than 1000 customers in industries such as financial services, oil and gas and government. The $100 million raised through the IPO ($875.3 million went to existing investors selling down) will help it push into new verticals, including into the regulatory space, from traditional regulators into civil agencies, attorney generals and the military side.
with all management selling down almost all their stakes …
Macquarie Group’s remaining 30 per cent stake swelled from a $508 million valuation to more than $762 million on Friday. Held 63%, banked $566million selling a bit over HALF
Ms Schwartz and her husband Alan’s growth capital firm Armitage Associates stake jumped from about $48 million to more than $71 million. These gains are in addition to $48 million cheque pocketed from reducing their stakes in the IPO. i.e. sold HALF
Could be interesting to see how this looks after 1-2 years when some of the risks have played out
. It’s not pets.com…. In 20 years time, it would be far more lucrative having NXL at A$8 than buying Alphabet, Google’s parent, at US$1823 a share.
“Nuix started with a very simple idea: to make emails searchable. Conventional thinking at the time was encapsulated in “Isn’t that what Google does?” That typified conventional wisdom. We are now well beyond that ambition and can successfully claim that we can make any digital data searchable and in near real time …and at a speed and scale that is unmatched by anyone on the planet.” Nuix co-founder Tony Castagna
… people I have spoken to that actually use Nuix rhapsodise about its search capabilities …. “It gives me what I want, rather than what Google wants.”
The other aspect of Nuix is that it came out of intelligence communities, early days in Canberra. Less talked about, the Nuix business model precludes the sale of its data analytics software to Chinese controlled companies and Chinese government agencies. Some of the largest customers for Nuix software are Western intelligence agencies who spend much of their time thinking about China’s latest strategic move.
Nuix software engine can allow prosecutors from police organisations or intelligence officers from spook organisations to find the truth in the data. Digital forensics teams in law enforcement and intelligence agencies use the Nuix software to collaborate and share intelligence as well as to prosecute the fight against criminals terrorists and other bad actors. It is believed the software has been used to collect, preserve, analyse and store evidence of crimes and atrocities by Islamic State. The software can ingest large quantities of structured and unstructured data at high speed and review it quickly
It is an industry-leading platform, which has six patents that don’t expire until between 2031 and 2035. The Nuix algorithm to make unstructured data searchable was first patented in 2013. The company has since registered a further six core patents in the US as well as 100 other patents of its unique IP. (again, similar to pets.com)
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