DocuSign improves artificial intelligence capabilities through new acquisition
In May 2020, DocuSign closed the acquisition of Seal Software, a contract management software company, for $188.0 million. Prior to the acquisition, DocuSign had invested $15.0 million in Seal Software in 2019. While Seal Software’s main service is its contract management tools, it uses Artificial Intelligence (AI) to analyze and extract data from contracts. This was the main selling point for DocuSign, as this technology will help them reduce time when conducting legal reviews. While DocuSign will continue to sell Seal’s analytic products, it will use the AI technology in its own DocuSign CLM services.
Balance Sheet|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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