DocuSign and Seal Using Artificial Intelligence to Save Time
and Money Discovering Agreements, Contracts and Other Legal
Documents
SAN FRANCISCO, June 20, 2018 /PRNewswire/ -- DocuSign
Momentum 2018 -- Seal Software, the leading provider of content
discovery and analytics solutions, today unveiled a global
partnership with DocuSign (NASDAQ:DOCU) in support of DocuSign's
broader System of Agreement strategy to automate and connect the
entire process of how agreements are prepared, signed, enacted and
managed. Concurrent with today's announcement, Seal Software also
disclosed that it has secured a $30
million investment from Toba Capital, the company's
principal existing investor, to support its next stage of
growth.
DocuSign's cloud-based System of Agreement platform connects the
leading e-signature technology, already used by more than 400,000
customers and hundreds of millions of users worldwide, to other
aspects of the agreement process. As part of this, DocuSign will
now distribute Seal Software technologies through its platform
extensions program.
DocuSign Total Search (powered by Seal) is designed to drive
'human discovery': it will enable customers to centralize all of
their digital agreements, organize them using metadata (structural
data), and search inside them using natural language terms
(unstructured data). DocuSign Intelligent Insights (powered by
Seal) is designed to drive 'machine discovery': it will use
artificial intelligence and machine learning to automatically
extract mission critical legal concepts like indemnification,
warranty and most favored nation, among others. DocuSign Compliance
Packs (powered by Seal) use the same artificial intelligence and
machine learning to extract concepts derived from key regulations,
including GDPR.
These integrated platform extensions from Seal, available later
this year, bring powerful new capabilities to the 'manage' stage of
modern Systems of Agreement. Customers can instantly and easily
find agreements, regardless of their origin or storage location.
They can then compare sections of similar agreements to identify
inconsistent contracted terms, areas of exposure, and potential
revenue leakage. And they can review auto-extracted terms and
concepts to ensure compliance and minimize exposure to risk.
"Our partnership with DocuSign highlights the commitment,
passion and innovation that has reaffirmed Seal's undisputed
market-leader status," said Ulf
Zetterberg, co-founder and CEO of Seal Software. "DocuSign's
System of Agreement strategy transforms one of the foundational
elements of business—the agreement process—and that aligns with our
own vision for the extraction of insights from content using
artificial intelligence. This partnership, coupled with our
additional funding from Toba, confirms our commitment to a new era
of intelligent content analytics (ICA) and expands our reach into
the enterprise." Aragon Research, a technology-focused research and
advisory firm, recently identified Seal Software as a key provider
in the emerging ICA market, which is forecast to grow to more than
$10 billion by 2025.
"Seal Software's intelligent content discovery and analysis
capabilities are making the promise of AI real today," said
Mark Register, SVP business
development and channels at DocuSign. "We are excited to have
Seal as a platform extension partner within our System of Agreement
portfolio."
Seal Software is a gold sponsor at DocuSign Momentum 2018,
DocuSign's annual customer conference from June 20-21 in San
Francisco. To learn more about how Seal Software and
DocuSign can help companies transform the digital enterprise,
connect in person at the Manage Pod in the Dome at the DocuSign
Momentum 2018 event, contact a Seal representative at
docusign.request@seal-software.com, or visit
https://www.seal-software.com/docusign for more information.
Toba Capital Extends Investment in Seal
Software
Ranked as one of the fastest growing companies in
North America by Deloitte in its
most recent list of the Technology Fast 500, Seal Software is
considered one of the most authoritative and innovative developers
of AI technologies for the enterprise.
"We have believed in Seal's massive potential since we first
invested in the company more than four years ago, and we are
convinced now more than ever that Seal has the right ingredients in
place to become a major enterprise software player," said
Vinny Smith, founder of Toba
Capital. "With a world-class executive team, blue-chip customers
and industry leading partners like DocuSign, there is no doubt that
Seal will continue its impressive growth trajectory."
With recent investments in services delivery and product
development as well expansion at its worldwide headquarters in
California's Silicon Valley, Seal
Software has grown to more than 200 employees and is experiencing
growth of more than 85 percent year-on-year.
"It is our customers that are fueling this growth and our
innovation," said Zetterberg. "More use cases for content analytics
are regularly emerging, keeping us in the vanguard of the machine
learning and NLP market. Some of the largest Fortune 100 companies
and many Global 2000 firms benefit every day from the Seal
platform, and we are deeply humbled at the confidence shown by Toba
Capital in our future."
About Seal Software
Seal Software is the leading provider of contract discovery, data
extraction and analytics. With Seal's machine learning and NLP
technologies, companies can find contracts of any file type across
their networks, quickly understand what risks or opportunities are
hidden in their contracts and place them in a centralized
repository. Based in the San Francisco
Bay Area, Seal empowers enterprises around the world to
maximize revenue opportunities, reduce costs, and mitigate risks
associated with contractual documents, systems, and processes. For
more information, visit Seal Software at seal-software.com.
Seal Software is a trademark or registered trademark of Seal
Software, Inc. in the U.S. and/or other countries. DocuSign, Inc.
is the owner of DOCUSIGN® and all of its other marks
(www.docusign.com/IP). All other marks appearing
herein are the property of their respective owners.
Contact:
Thomas
Morelli
Spark
+1 253 777 3543
seal@sparkpr.com
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