Seal was founded in 2010 by Ulf Zetterberg and Kevin Gidney in the UK. With backgrounds in document management and eDiscovery technologies, they saw the need to apply these technologies to the problems of finding contracts from various systems and repositories, and being able to extract contract data without depending entirely on manual reviews.
Kevin and small team of developers start work on the Seal platform. Their platform includes contract discovery across a network, OCR capabilities, a repository for contracts, and analytics. As it is clear Contract Lifecycle Management (CLM) systems don’t solve the “data problem,” they focus on APIs and connectors to ensure Seal can be used across many CLMs and business systems.
LATE 2010: Seal launches the first release of the platform, and the field of Contract Discovery and Analytics is born. Ulf and Kevin coin the term “c-Discovery,” and start engaging potential customers.
Initial engagements with companies such as NASDAQ and Avusa, among others, help guide the capabilities and scalability of the platform. In 2012, Ulf relocates to California, and establishes a new headquarters for Seal in the San Francisco area.
Seal is growing fast, and is tracking at 100% increases in revenues and staff each year, an achievement it maintains through 2016. Seal also becomes the first company to offer an analytics server that allows customers to “teach” the engine on their own using Machine Learning (ML), Natural Language Processing (NLP), and Latent Semantic Indexing (LSI).
Seal surpasses the 100-customer threshold, and builds out several high-value use cases for Contract Discovery and Analytics, including Procurement, Sales, Legal, M&A, Regulatory Compliance, and Data Migration. Seal launches a new version of the platform with multiple layers of ML methods for speed and scalability, a central reporting database, a new ETL process, single sign-on, and NLP additions for entity extraction and comparison.
Seal launches a new identity (logo and branding) for the company, and technologies which include the addition of Deep Learning (DL) methods to the platform, a new data visualization platform, UDML, and an add-in for MS Word called “Analyze this Now.” Seal ends the year having earned five notable industry awards for innovation and Deloitte’s “Fast 500” award for company growth.
Seal’s platform is the most advanced document discovery, data extraction, and analytics solution, and remains the only provider of contract discovery in the market. Its long customer list includes 4 of the 10 “most valuable brands for 2016,” and supports the leadership position Seal has in the market.
A company can never predict what data might be needed from the contracts in a portfolio, and requests for information often come up unexpectedly. The ongoing intelligence provided by Seal means there are no costly and disruptive fire drills when a request for information occurs.
1990 N California Blvd., Suite 500
Walnut Creek, CA 94596
Tel: +1 650 938 SEAL (7325)
1-2 Hatfields, Waterloo
London SE1 9PG
Tel: +44 203 735 9898