DocuSign is moving into AI with the acquisition of Seal Software, maker of AI-driven contract analysis, for $188 million in cash.
DocuSign is one of the leading electronic contract platforms, providing a way for companies to share, organize and sign electronic documents. DocuSign already resells Seal’s software as part of its DocuSign Agreement Cloud. The acquisition will drive further integration between the two platforms.
“As the Agreement Cloud company, DocuSign is about digitally transforming the very foundation of doing business: agreements and agreement processes,” said Scott Olrich, DocuSign’s chief operating officer. “We believe that AI will play a vital role in this transformation. And by integrating Seal into DocuSign, we can benefit from its deep technology expertise and its broad experience applying AI to agreements.”
According to the statement, “Seal is recognized as one of the pioneers in AI-driven contract analytics. Its technology can rapidly search large collections of agreements by legal concepts (rather than just by keywords); automatically extract and compare critical clauses and terms side-by-side; quickly identify areas of risk and opportunity; and deliver actionable insights that help solve legal and business challenges.”
DocuSign will continue to sell Seal’s software, in addition to integrating it with DocuSign CLM.
“For DocuSign customers, these capabilities will mean faster, more efficient agreement processes. Seal customers will in turn benefit from deeper access to the full capability of the DocuSign Agreement Cloud—especially document generation and advanced workflows.”
DocuSign’s acquisition of Seal Software illustrates the wide-ranging industries AI continues to impact.