DocuSign invests $15m in Seal Software
In a significant deepening of DocuSign’s global partnership with Seal Software, the San Francisco-headquartered company has injected $15m – Seal’s first corporate investment. As of its last company accounts Seal was majority owned by Toba Capital, which in June 2018 extended its investment in Seal by a further $30m. It is not yet known if the $15m is primary or secondary investment to buy out some of Toba’s share.
The investment comes as DocuSign, which is the leading provider of eSignature technology, expands out into contract lifecycle management, having in August 2018 acquired SpringCM.
The partnership formed between DocuSign and Seal Software early last year saw Seal’s artificial intelligence-based agreement discovery, extraction, and analytics solutions offered as a pre-integrated extension of the DocuSign Agreement Cloud.
Its partnership with Seal will enable it to offer clients the ability to apply Seal’s technology to analyse their agreements.
This builds on the steps DocuSign has already taken to add intelligence to the DocuSign Agreement Cloud—including the acquisition of machine learning startup Appuri in December 2017.
“AI lets organizations analyze their agreements for hidden risks and opportunities in new ways,” said Ron Hirson, chief product officer at DocuSign. “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.”