Seal Software Attributes 270 Percent Revenue Growth to Continued Innovation in Using AI to Uncover Risks and Opportunities Associated with Contracts for the Enterprise
Seal Software, the leader in Contract Discovery and Analytics, today announced it has been ranked 310 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Seal Software grew 270 percent during this period. Previously ranked 148 in Deloitte’s annual list of high-growth companies, Seal now joins the Deloitte rankings for a second consecutive year.
It is increasingly crucial for enterprises and large matrix organizations to better understand the risks and opportunities associated with their contracts. Incorporating artificial intelligence (AI) and natural language processing, Seal’s technology performs automated discovery of contracts across the entire organization and brings them into a centralized repository for extracting all of the valuable terms, provisions, and clauses buried in the text. The company has brought new life to the contract discovery and analytics market with the implementation of AI and advanced technologies, allowing organizations to discover hidden revenue streams, improve business efficiency and build intelligence around the data already available to them.
Seal Software CEO Ulf Zetterberg credits the company’s burgeoning growth to these market-pervasive trends around AI, and Seal’s ability to apply this technology with laser-sharp focus on delivering successful outcomes for its customers. He said, “Deloitte’s recognition of Seal’s uncommon growth is also validation that the Seal’s technology and approach go beyond ‘business as usual’. As we look ahead, we are committed to putting even power into the hands of users while simultaneously helping them prioritize risk reduction and maximize sales and revenue growth in a shorter time span.”
“Emerging growth companies are powering innovation in the broader economy. The growth rates delivered by the companies on this year’s North America Technology Fast 500 ranking are a bright spot for the capital markets and a strong indicator that the emerging growth technology sector will continue to deliver a strong return on investment,” said Heather Gates, national managing director of Deloitte & Touche LLP’s emerging growth company practice. “Deloitte is dedicated to supporting the best and brightest companies of the future in the emerging growth company sector. We are proud to acknowledge the significant accomplishments of this year’s Fast 500 winners.”
Overall, 2017 Technology Fast 500™ companies achieved revenue growth ranging from 135 percent to 59,093 percent from 2013 to 2016, with median growth of 380 percent. As the company assumes the mantle of leadership in contract discovery, extraction and analytics, driven by continued predictive breakthroughs using AI and other advanced technologies, Seal Software is among the those recognized by Deloitte for having achieved remarkable revenue growth in recent years.
About Deloitte’s 2017 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 2013 to 2016.
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.
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.
About Seal Software
Seal Software is the leading provider of contract discovery, data extraction, and analytics. With Seal’s artificial intelligence, machine learning, and natural language processing 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 San Francisco, 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 http://www.seal-software.com.
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