Singapore, 1st July 2021 - Dedoco, Singapore’s first decentralized digital document and signing platform, today announces the completion of its seed investment round led by Vertex Ventures Southeast Asia. The completion of this round brings Dedoco’s seed capital sum to SGD 3.3 million.
Co-founded in 2020 by tech entrepreneur Daphne Ng and Dr. Ernie Teo, Dedoco is a first-of-its-kind digital document and signing solution that seeks to transform the way enterprises manage digital workflows while issuing trusted, verifiable documents and credentials. Dedoco enables document authentication by securing real-time verification options while an audit trail is recorded on the blockchain to maintain transaction integrity. This allows users to maintain greater governance and convenience over their daily processes.
One of Dedoco’s key differentiators is the platform’s ability to provide privacy and security options to organizations and users. As a result, this safeguard enables the sharing of company documents and sensitive information in a secure manner. The ability to deliver and complete documents digitally also removes the need for physical documents to be couriered, thus helping organizations achieve better productivity with savings in terms of cost and time.
Dedoco envisions an API-first, modularized approach that allows companies and digital platforms to experience seamless and secure document transactions with their stakeholders without compromising convenience, flexibility, or privacy.
Enabling Leading-Edge Digital Document and Signing Capabilities in a Post-Pandemic World
Businesses across all industries are rapidly normalizing the use of electronically signed contracts, agreements, and other legal documentation. With “Sign with Singpass” by the Government Technology Agency of Singapore, Dedoco is one of the first digital signing application providers to offer this new feature to more than 2.5 million registered Singpass app users so that they can digitally sign documents.
Moving forward, Dedoco looks to further penetrate the global Software-as-a-Service (SaaS) market with its 'data privacy, compliance and embedded trust' proposition to provide more industries and organizations with the ability to access and transact trusted documents globally.
To date, Dedoco has clients that span government organizations, banks, professional services (HR, accounting, and corporate services), and real estate.
Extending Dedoco’s Global Footprint
With this seed round, Dedoco will expand into new markets, and scale its platform and technology to support a robust product roadmap focusing on delivering the solution to organizations and users globally. New features will also be progressively rolled out over the next 12 to 24 months with an emphasis on increasing connectivity with various cloud and system partners.
“Document security and privacy are vital for both MNCs and SMEs alike because they protect important document data and business interests. We understand the infrastructure that needs to be developed and are working alongside enlightened organizations to build and strengthen their digital document workflows. We are excited to partner with Vertex Ventures SEA to make our suite of solutions accessible to more governments and businesses in this region,” says Daphne Ng, Co-Founder and CEO of Dedoco.
“Current competing solutions rely on centralized trust and take custody of digital documents. This is a huge security concern especially for companies dealing with highly sensitive and confidential documents. At Dedoco, we take a different approach with a decentralized architecture and a no-store solution to provide our clients with the highest form of data and document privacy,” adds Ernie Teo, Co-Founder and CTO of Dedoco.
“The COVID-19 pandemic has led to an urgent need for companies to be digitally ready as virtual interactions have become anew norm. Dedoco has demonstrated its ability to address the pain points currently faced by many users and the industry. We are excited to back this exceptional team as they continue to build this decentralized document infrastructure platform to create seamless and secure transactions and provide enterprises a seamless platform to manage their whole digital workflow,” says Chua Joo Hock, Managing Partner of Vertex Ventures SEA.
Dedoco is also well backed by prominent angel investors like Willy Arifin (whose investments include Homage in Singapore, and BukuKas, KoinWorks in Indonesia) and Ong Chee Beng (tech veteran and most recently, Country Manager of AWS Singapore).
For more information and to experience what Dedoco has to offer, please visit https://dedoco.com for a free trial.
Dedoco is a first-of-its-kind digital document and signing solution that seeks to transform the way enterprises manage digital workflows while issuing trusted, verifiable documents and credentials. Built to improve efficiency and compliance, Dedoco enables document authentication through secure real-time verification options while signing evidence is recorded on the blockchain to maintain transaction integrity. Ultimately, Dedoco aims to provide best-in-class digital solutions that allow users to maintain greater governance over their daily processes while conducting transactions as seamlessly and safely as possible.
For more information, visit us at https://www.dedoco.com
About Vertex Ventures Southeast Asia (VVSEA)
Vertex Ventures Southeast Asia (VVSEA) is a leading venture capital investor in Southeast Asia and India. It has a long and strong track record of investing in early-stage startups and building champions like Grab, Patsnap, 17Live, Nium, FirstCry, Licious, AsianParents, Validus, Warung Pintar and others. VVSEA is part of the global Vertex Ventures network of funds. Its global network also comprises affiliates in Silicon Valley, China and Israel. Providing anchor funding and operational support to these venture capital funds, Vertex Ventures network has 6 network funds, more than 90 professionals globally, over US$4 billion assets under management, and more than 200 active portfolio companies.