DocuSign—San Francisco-based e-signature and digital transaction management services provider—has recently announced that it is investing $15 Million in a Bay Area-based AI-powered startup, Seal Software, which performs efficient contract analytics, discovery & data extraction. Through this investment by DocuSign, the collaboration between both the companies will become even stronger.
In December, DocuSign acquired machine learning startup, Appuri, and in September 2018, it purchased SpringCM—a text search and document indexing company. After that, the company followed Seal Software, which was established by Kevin Gidney and Ulf Zetterberg in the Year 2010, and it has recently disclosed business elevation of more than 85% year-over-year.
The company is delighted by the confidence of DocuSign while selecting the partner and as a strategic investor this time, said by the CEO and co-founder Zetterberg. By this collaboration, both the companies will continue to unbolt the complete potential of all the deals that are associated with every type and size of businesses.
It is already mentioned in the last year’s contract that Seal’s technologies are circulated through platform extensions program set by DocuSign, which are controlled by DocuSign’s Total Search service and Intelligent Insights. The former controller allows its clients to integrate and organize digital contracts using metadata and scan them in native language terms, and the latter one utilizes AI algorithms to involuntary extract “mission-critical” authorized concepts such as warranty and indemnification.
This month has appeared as quite newsy for DocuSign. Last week, it proclaimed Agreement Cloud, a suite of different solutions including three innovative products, known as DocuSign Gen, DocuSign Click, and DocuSign ID Verification. These featuring products allow its clients to automatically generate contracts from Salesforce, rapidly confine approval and standard contract stipulations, and also verify nationally-authorized IDs and European e-IDs used to make sensitive transactions.
Since the Year 2003, DocuSign has bagged over $500 Million.