DocuSign which is a San Francisco has now secured $15 Million in the Seal Software, which is a contract delivery and analysis startup, to help with the development of the AI that can read and analyze the contracts.
The two companies have a previously existing partnership in which the Seal technology is now distributed wholly with the DocSign platform extension program.
“We are thrilled by DocuSign’s confidence in Seal Software as a partner and now as a strategic investor, as we build the next generation of agreement discovery and analysis tools using artificial intelligence,” said Co-founder and CEO Ulf Zetterberg. “Working together, we will continue to unlock the full potential of all the agreements that are pervasive across every size and type of business.”
Seal Technology works closely with the DocuSign Total Search, which lets the users locate and organize the digital agreement with the metadata, and search with the help if a natural language terms. It also helps to power the DocuSign Intelligent Insights, which help uses the AI to extract some of the latest essential contracts like the indemnification and warranty.
“AI lets organizations analyze 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 has been investing heavily in the Machine Learning and AI technologies recently. As, it acquired the intellectual property rights from the machine learning startup Appuri in the month of December 2017, and bought text search and indexing startup SpringCM last year.
