Signature tech business, DocuSign has followed its partnership with AI software platform Seal Software to provide a $15m investment.
Seal announced its partnership with DocuSign in June last year, which combined the RegTech’s agreement discovery, extraction, and analytics solutions with DocuSign’s eSignature platform.
At the time of the partnership, Seal also secured a $30m investment from existing investor Toba Capital.
Based in the San Francisco Bay, Seal claims to enable enterprises to maximise revenue opportunities, reduce costs, and mitigate risks associated with contractual documents, systems, and processes.
Its learning and NLP technologies enables companies to find contracts of any file type across their networks, understand what risks or opportunities are hidden in their contracts and place them in a centralised repository.
“AI lets organizations analyse their agreements for hidden risks and opportunities in new ways,” said DocuSign chief product officer Ron Hirson.
“As we have continued to invest in adding intelligence to our suite of products, this investment in Seal’s discovery and analytics is just another step in making our Agreement Cloud offering smarter.”
DocuSign enables people to electronically sign agreements from almost anywhere. It also enables digital workflows which it claims save money, increase efficiency, and move businesses forward.
Its cloud-based electronic signature platform helps small- and medium-sized businesses, enterprises, and individuals collect information, automate data workflows, and sign on various devices.
Over the last few years, Docusign has been making acquisitions to bolster suite of products with AI capabilities.
In December 2017 the company bought the IP rights of machine learning startup Appuri, before acquiring AI-powered document management platform SpringCM in September 2018.
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