Singapore-based Dedoco, which has created a decentralised digital document and signing platform, has closed its seed round on SGD 3.3m ($2.4m).
Vertex Ventures Southeast Asia served as the lead investor for the seed round.
With the growth funding, the company is looking to bolster its position in the global software-as-a-service market with its data privacy, compliance and embedded trust solution.
The capital will help it to move into new markets, scale its platform and technology and accelerate its product roadmap. The company is looking to release a selection of new products over the next 12 to 24 months.
Co-founded by Daphne Ng and Dr. Ernie Teo in 2020, the company claims to have built the first decentralised digital document and signing solution that helps companies manage digital workflows. Its platform enables real-time verification for documents, with an audit trail recorded on the blockchain to maintain integrity.
Dedoco claims one of the differentiators for its platform is the ability to provide privacy and security options to organisations and users. This means sensitive documents are safe and protected.
Dedoco co-founder and CTO Ernie Teo said, “Current competing solutions rely on centralized trust and take custody of digital documents. This is a huge security concern especially for companies dealing with highly sensitive and confidential documents.
“At Dedoco, we take a different approach with a decentralized architecture and a no-store solution to provide our clients with the highest form of data and document privacy.”
Dedoco is also backed by a number of angel investors, including veteran investors Willy Arifin and Ong Chee Beng.
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