Adlib

Adlib

Adlib is a Canadian process automation and content intelligence company with international headquarters in Burlington Ontario. Founded in 2001, Adlib provides content intelligence and automation solutions to help enterprise customers discover, standardize, classify, extract, and leverage clean structured data from complex unstructured documents. The company services hundreds of customers in over 20 countries throughout North America and Europe. Adlib employs a staff of approximately 75 as of 2021. Adlib is an independent portfolio company owned by private equity firm Diversis Capital. ^[1]

History

Originally founded in 2001 by entrepreneurs Scott Mackey, Jean Ouellette, and Peter Duff ^[2], the computer software company focused on helping enterprise customers in life sciences, insurance, manufacturing, energy, and government transform documents from a range of sources and formats into searchable PDF or ISO-compliant PDF/A documents. ^[3]

Product and Customers

In 2018, the product evolved to include automated discovery, classification, and data extraction from unstructured document formats. Adding artificial intelligence capabilities, including machine learning and natural language processing followed in 2020. Supporting both file analytics and advanced contract analytics use cases, Adlib continues to work with life sciences, financial services, energy, and manufacturing companies.

A range of companies on the Fortune Global 100 and 500 list, including American Financial Group, JPMorgan, StateFarm, Swiss Re, AstraZeneca, 3M, Johnson and Johnson, and Nationwide, rely on Adlib’s solution for business and consumer use.

Duff Steps Down as CEO

In August of 2019, Peter Duff stepped down as CEO and into the role of Chief Product Officer (CPO). This shift represented Duff’s desire to focus on further developing the company’s products to better address shifting market needs. Brett Mellon, who had previously served as the company’s first Chief Operating Officer, took Duff’s place as acting CEO of Adlib. ^[4] In 2021, Mellon was named by The Silicon Review as one of the “30 best leaders to watch in 2021.” ^[5]

Corporate Rebrand

In November 2020, Adlib Software rebranded to “Adlib,” coinciding with a new brand identity and several enhancements to its SaaS-based solution. ^[6] This corporate rebrand represented the company’s desire to better communicate its position and address the growing demand for data-driven business insights and AI-based contract analytics solutions.

Diversis Capital Acquisition  

In July of 2021, Adlib announced it would be purchased by Diversis Capital, a Los Angeles-based private equity firm that invests in software and technology-enabled organizations. ^[7] Through the acquisition, Diversis reportedly plans to further expand Adlib’s footprint and geographic reach both organically as well as through partnerships and M&A. The LA-based private equity firm officially acquired Adlib on July 8, 2021, in a deal with an undisclosed value. ^[8]

Partnerships

Adlib reportedly partners with a range of technology and solution vendors to deliver its process automation and content intelligence solutions, including Oracle, Microsoft, OpenText, Google, Hot Docs, Court Square Group, MasterControl, M-Files, DXC Technology, Thomson Reuters, and others.

Awards and Accolades

In 2015, Adlib was shortlisted by CIO Review as one of the 20 most promising pharma and life sciences technology solution providers. ^[9] In 2016, the company was named on the “100 companies that matter in knowledge management” list ^[10]; was included in Gartner’s Market Guide to File Analysis Software report ^[11]; and was also voted top 10 best information governance companies at the Info Gov awards. ^[12] That same year, Adlib was awarded prestigious local business recognition honouring the company’s commitment to community, global reach, and innovation ^[13]; was selected as the recipient of the first Halton Innovation award ^[14]; and was named on KM World’s “Trend-Setting Products of 2016” list. ^[15]

In 2018, Adlib was named as a "strong performer" in the Forrester Wave File Analytics Provider report. ^[16] In 2019, Adlib was recognized for its outstanding corporate culture by Great Place to Work® ^[17], and in 2020, Adlib was named “Best Workplaces in Technology 2020.” ^[18]

In 2020, Adlib was also named by CIO Review as one of the “most promising pharma and life sciences tech solution providers.” ^[19] That same year, InsurTech included Adlib on its “30 admired companies to watch in 2021” list. ^[20]

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