Recognition Caps Breakaway Year of Innovation and Growth as Seal Software Dominates Contract Discovery and Analytics Market
Seal Software, the leader in contract discovery and analytics, today announced the company has been named to the Deloitte’s Technology Fast 500™ for a third consecutive year. The list is a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Seal was named the 64th fastest growing tech company in the San Francisco Bay Area, and 337th overall with 239 percent year-over-year growth.
Seal Software is the dominant player in the contract discovery and analytics market. It applies artificial intelligence (AI) and machine learning technology to automatically find, analyze and report on the entire contract corpus of the enterprise. These contractual insights, which would normally require tedious hours of manual work by expert legal teams to unearth, can be used to identify hidden revenue streams, improve business efficiency and build intelligence around the data already available to an organization.
Seal Software CEO Ulf Zetterberg said, “The race is on as companies compete to survive in an ever-evolving digital era, and it is evident that only those who keep up will thrive. Seal’s continued growth, once again recognized by Deloitte, underscores our technical innovation and commitment to digital transformation that helps companies adapt by optimizing key business processes, defining new revenue opportunities and reducing procurement spend.”
The Fast 500 list caps a year in which Seal Software began a close global partnership with DocuSign in support of the company’s Systems of Agreement platform that accelerates preparation, signing, enactment and management of digital transaction services.
News also came that the company secured a $30 million investment from Toba Capital, its principal investor, and acquired Apogee Legal, a contract analytics firm with formidable legal domain expertise, as it looks to complement core capabilities in the legal field and expand it into other relevant verticals including financial services, healthcare, and life sciences. Seal now has more than 250 employees including 30 on-staff lawyers.
“Congratulations to the Deloitte 2018 Technology Fast 500 winners on this impressive achievement,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “These companies are innovators who have converted their disruptive ideas into products, services and experiences that can captivate new customers and drive remarkable growth.”
“Software, which accounts for nearly two of every three companies on the list, continues to produce some of the most exciting technologies of the 21st century, including innovations in artificial intelligence, predictive analytics and robotics,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and Industry Leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “This year’s ranking demonstrates what is likely a national phenomenon, where many companies from all parts of America are transforming the way we do business by combining breakthrough research and development, entrepreneurship and rapid growth.”
About Deloitte’s 2018 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2014 to 2017.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Seal Software
Seal Software is the leading provider of contract discovery, data extraction and analytics. With Seal’s machine learning and NLP technologies, companies can find contracts of any file type across their networks, quickly understand what risks or opportunities are hidden in their contracts and place them in a centralized repository. Based in the San Francisco Bay Area, Seal empowers enterprises around the world to maximize revenue opportunities, reduce costs, and mitigate risks associated with contractual documents, systems, and processes. For more information, visit Seal Software at seal-software.com.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
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Seal Software is a trademark or registered trademark of Seal Software, Inc. in the U.S. and/or other countries. All other marks appearing herein are the property of their respective owners.