Docugami Raises $10M Seed Funding Round
The document engineering startup Docugami has secured a $10 million seed funding round, and has appointed Bob Muglia as investor and board member of the company.
FREMONT, CA: The Seattle-area document engineering startup, Docugami, has secured a $10 million seed funding round. This round of funding was led by Silicon Valley venture fund SignalFire, and NextWorld Capital and others also participated in this round. The former head of both Microsoft’s Office and Azure businesses, and the former CEO of Snowflake, Bob Muglia is appointed as a significant investor and board member of the company.
Several other investors like the former head of Google Apps, Greg Badros; Shishir Mehrotra, CEO of Coda; Kevin Reigelsberger, former president of Avalara; Alan Smith, partner, Fenwick & West; Barry Abbott, partner, Lane Powell & Associates; and Fenwick & West Investments are also included in the funding
Docugami was founded in March 2018 by Jean Paoli and four other senior engineering leaders from Microsoft. The company harnesses a broad range of artificial intelligence techniques, including natural language processing, image recognition, declarative markup, and other approaches, to enable businesses of all sizes to radically improve how they create and manage documents for greater insight, efficiency, and business impact.
Chief executive officer of Docugami, Jean Paoli, says that SignalFire’s deep technical roots and hands-on approach are an excellent fit for Docugami. He also mentioned that they 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 grow their customer base rapidly.
The team of Docugami is excited to have Bob’s insights and experience as the company embarks on a period of rapid customer growth and technical innovation.
Jean Paoli, the CEO of Docugami, is considered as a pioneer in the field of document engineering. He is one of the inventors of XML and also started several billion-dollar businesses for the company. Previously, he started two startups with INRIA, the famed National Institute for Research in Computer Science and Automation in France.