clearwell-logo.bmpClearwell Systems, a Santa Clara email analytics company that lets employees search and manage correspondence related to things like litigation and regulatory issues, has raised $17 million in a third round of financing (see announcement).

It also said it surpassed 100 corporate customers.

We wrote about this company last year (scroll down), when it raised its second round of funding.

The site has a demo about how the product works.

The funding comes from new investor DAG Ventures, existing backers Redpoint Ventures and Sequoia Capital and an unnamed investor.

The company has now raised $16 million, and says that will be enough to get it to profitability.