Tag: Data Trust

08
Oct

ThinkData Announces Strategic Partnership with the Legal Innovation Data Institute

TORONTO, ON – October 8th, 2020 — ThinkData Works, Inc. (ThinkData), the Toronto tech company behind the end-to-end data management platform Namara, has brokered a partnership agreement with the Legal Innovation Data Institute (LIDI) that aims to make the administration of justice more transparent.

LIDI takes inspiration from the global free access to law community as well as many other public interest legal technology innovators and university research labs. LIDI lowers the barriers and expands the circle of innovation in Canadian legal data beyond the small and closed group of legal publishers that currently possess extensive primary law collections.

The LIDI was founded in September of 2020 through the initiative and support of the following founding members, initial collaborators and advisors:

Founding MembersInitial Research and Development Partners Founding Advisors
 • Compass
 • Justia
 • vLex
 • AltaML
 • BG Communications
 • Alberta Machine Intelligence Institute xAI Lab
 • Legal Technology Lab | uOttawa Centre for Law, Technology and Society
 • The Conflicts Analytics Lab at Queen’s University
 • ThinkData Works
 • Private AI
 • CiteRight
 • Dr. Randy Goebel
 • Meredith Brown
 • Noel Corriveau
 • Sarah Glassmeyer
 • Cory Janssen


“ThinkData had the perfect platform for helping us meet our objective with LIDI,” says the Founder and Executive Director, Colin Lachance. “Building a data trust is complex. We needed a partner who was leading the space and could support our growth in datasets and collaborators. Partnering with ThinkData is very exciting.”

Bryan Smith, co-founder and CEO of ThinkData, says, “At first glance, it seems like offering more data to more people is incompatible with maintaining privacy and security; but transparency in how data is collected, maintained, and shared is key to realizing the value of data. LIDI is moving the chains in a big way, and hopefully setting a precedent not just for the legal world, but for any entity looking to provide fair and transparent access to data.”

LIDI lowers legal data access barriers in Canada and facilitates innovation on an unprecedented scale. Through collaboration, we aim to make the administration of justice and technology more transparent and less costly.

About LIDI
Legal Innovation Data Institute (LIDI) in an Ottawa-based and federally incorporated not-for-profit founded in 2020 to overcome the challenge of open courts and closed data. Through the LIDI Data Trust, LIDI operates as a steward of sensitive court and tribunal rulings and other legal data. LIDI Data Trust content is cleaned, normalized and enriched by LIDI and its supporters to accelerate the research, development and innovation efforts of members and collaborators in a manner that places a premium on privacy considerations and advances access to justice in Canada.

 

AI STARTUP RUBIKLOUD TO BE ACQUIRED BY OTTAWA-BASED KINAXIS FOR $81.4 MILLION CAD

OTTAWA, ON, June 15, 2020 – Kinaxis® Inc. (TSX: KXS), the authority in driving agility for fast, confident decision-making in an unpredictable world, has signed a definitive agreement to acquire Toronto-based Rubikloud, a disruptive, emerging provider of AI solutions that automate supply chain prescriptive analytics and decision-making in the retail and consumer packaged goods (CPG) industries.

Globally-recognized retailers and CPG manufacturers in the health and beauty, household and grocery segments use Rubikloud’s AI-based products today. Their offerings include demand forecasting and automation to manage and optimize trade promotions, pricing and assortment to drive product demand and dramatically improve financial results. Kinaxis will enhance RapidResponse’s demand planning capabilities with the Rubikloud offerings, anticipating initial opportunities in the company’s rapidly-growing CPG customer base and over time for other industries such as life sciences. The acquisition also offers Kinaxis a springboard into the enterprise retail industry.

“Rubikloud has capabilities and value that we can offer our CPG customers today, leads us into the retail industry with some bellwether accounts, and adds a group of approximately 80 people to an already-impressive AI and machine learning (ML) team here at Kinaxis. Over time, this enhanced group will contribute to new and existing AI-powered capabilities across the full Kinaxis RapidResponse® platform and applications,” said John Sicard, President and CEO of Kinaxis. “This acquisition reflects the growing importance of AI and ML to power intelligent automation and augment human decision-making to better deliver on customer promises, remove waste and increase resiliency for effective risk management.”

Rubikloud’s SaaS-based ML offerings empower retail and CPG manufacturers to transform their core operations by improving and automating complex, profit-generating decisions. Rubikloud’s proven AI capabilities and intuitive tools enable users to leverage disparate data sources to improve forecast accuracy, site-level allocations, inventory availability and promotion plans by allowing users to run boundless simulations in real time.

“We founded Rubikloud with the belief that purpose-built AI could be used to solve some of the most complex industry problems and we have spent the last seven years building a fantastic product that receives validation from global customers every day,” said Kerry Liu, CEO, Rubikloud. “We’re excited at the prospect of joining Kinaxis, which helps us bring our innovations to a much broader customer base at a faster pace than on our own. Not only that, being two strong Canadian companies we see great cultural synergy and look forward to working on the complex problems we know RapidResponse and concurrent planning can solve for customers.”

Terms of Agreement
Kinaxis will acquire Rubikloud for US$60 million in an all-cash transaction that is expected to close within 60 days. Based on Rubikloud’s current revenue and expense profile, the company’s fiscal 2020 revenue and Adjusted EBITDA guidance, as reiterated in its May 6, 2020 news release, remains unchanged. The transaction is subject to customary closing conditions.

About Kinaxis Inc. 
Everyday volatility and uncertainty demand quick action. Kinaxis® delivers the agility to make fast, confident decisions across integrated business planning and the digital supply chain. People can plan better, live better and change the world. Trusted by innovative brands, we combine human intelligence with AI and concurrent planning to help companies plan for any future, monitor risks and opportunities and respond at the pace of change. Powered by an extensible, cloud-based platform, Kinaxis delivers industry-proven applications so everyone can know sooner, act faster and remove waste. For more Kinaxis news, follow us on LinkedIn or Twitter.