Docugami Secured $10 Million Seed Funding

By StartUp City | Thursday, February 13, 2020

Docugami masters a wide range of AI techniques including image recognition, declarative markup, natural language processing, and other approaches, to allow businesses of all sizes to improve their ways of creating and managing documents for greater insight, efficiency, and business impact.

FREMONT, CA: Docugami, a Seatle-based document engineering startup, raised $10 Million in seed round of financing. The round was led by SignalFire, a Silicon Valley venture fund.

The additional investors in the funding round include Greg Badros, former head of Google Apps; Shishir Mehrotra, CEO of Coda; Alan Smith, partner, Fenwick & West; Barry Abbott, partner, Lane Powell & Associates; and Fenwick & West Investments.

A number of notable investors in Silicon Valley, Paris, and the Seattle area, took part in the seed round, including Ellen Levy, former head of corporate and business development at LinkedIn; Sarah Imbach, former senior executive at PayPal, LinkedIn, and 23andMe; Thomas Reardon, co-founder of CTRL-Labs.

Ilya Kirnos, founding partner and chief technology officer at SignalFire, said, “We are excited to be making such an unusually large seed investment because we are so impressed with the world-class team of engineers, data scientists and business leaders Docugami has assembled. The Docugami team helped create and deliver the document technology used by more than a billion people around the world today, and they have the vision and experience to transform how people use and think about documents for the next 20-30 years.”

Docugami, established in 2018 by Microsoft executive Jean Paoli and four other senior engineering leaders from Microsoft, masters a wide range of AI techniques including image recognition, declarative markup, natural language processing, and other approaches, to allow businesses of all sizes to improve their ways of creating and managing documents for greater insight, efficiency, and business impact.

Docugami, unlike other companies, focuses on the small data that is unique to each company. To implement Docugami’s solutions, the customers do not require to change their business processes or install new systems. Docugami’s solutions are designed to work with customers’ existing systems such as Google Docs or Microsoft Office 365.

The Docugami team includes internationally acclaimed data scientists and well-accomplished software engineering, business, and marketing leaders. Jean Paoli, Docugami CEO, a pioneer in the field of document engineering, is one of the inventors of XML. He remarked, “We are on a mission to solve the document and dark data issues that have plagued businesses of all sizes for decades, and this massive infusion of seed funding will enable us to expand our data science team to add product capabilities, and build our sales and marketing muscle to rapidly grow our customer base.”

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