New company combines AI technology and consulting to address the challenges of analyzing and managing massive volumes of data
AUSTIN – February 16, 2021— Governance, legal, and risk professionals overwhelmed by the task of managing and analyzing massive volumes of data can now help mitigate risk and gain key insights using a combination of technology automation and human expertise from newly formed Breakwater Solutions LLC. The company launched with technology from IBM and private equity funding from JLL Partners.
The company’s consulting, software, and managed services are designed to address the challenges within information governance, disputes and investigations, regulatory compliance, privacy, and cybersecurity. Breakwater CEO and former IBM executive James Schellhase previously led the software portfolio now offered by Breakwater.
“We have brought together experienced consultants and advanced software designed to help public and private companies mitigate risk, improve productivity, and increase profitability,” Schellhase said. “We use statistical sampling and AI data segmentation to help organizations ‘know what they know’ and make more confident decisions about how to monitor, organize, and store overwhelming amounts of data.”
Breakwater’s software suite includes IBM StoredIQ®, IBM StoredIQ for Legal, IBM StoredIQ InstaScan, and the IBM Atlas suite of products. Combined with bespoke solutions from the company’s consultants, the software suite provides actionable intelligence that is designed to help company decision-makers address their regulatory, compliance, litigation, and data security issues. Through a partnership agreement with IBM, Breakwater will now assume the ongoing support, investment, and dedication to the future of these products. Breakwater will help current IBM users of these products transition without reimplementing their existing environments.
“In addition, I am pleased to announce that our founding team includes Jim Vint, former Technology Practice Lead at Ankura and Navigant Consulting, to provide leadership to our consulting practice. We are excited about the opportunity to meet customer challenges head-on, and the early feedback from clients and analysts has been very positive,” Schellhase said.
“Businesses are looking for ways to leverage AI to analyze large amounts of unstructured data to help them reduce risk, make informed decisions and enhance value,” said Madhu Kochar, Vice President of Product Management for Data and AI at IBM. “IBM is working closely with Breakwater Solutions to support our customers and their evolving needs in the file analysis and eDiscovery space.”
Breakwater’s solutions are designed to adjust data-driven processes, modernize business practices, and assess compliance with global policies and regulations. The company is implementing its software to develop automated solutions that address each client’s challenges. Breakwater’s managed services also help ensure automation is adjusted for new requirements and refined for ongoing operational excellence.
“Breakwater enters a market primed for innovation, with existing providers offering consulting or technology for these business challenges, but are not positioned to combine the two to deliver more effective solutions,” said Brooks Powlen, Managing Director at JLL Partners. “Breakwater’s ability to deliver a solution that marries consulting with powerful, AI-powered software is what made this an easy investment decision for our firm.”