Digital-document platform Dedoco raises S$3.3m seed round led by Vertex Ventures

DEDOCO, a Singapore-based startup specialising in a digital document and signing platform, has raised S$3.3 million in a seed round led by Vertex Ventures South-east Asia.

Founded last year, Dedoco seeks to help enterprises manage digital workflows while issuing trusted, verifiable documents and credentials. The startup's platform offers real-time verification, while an audit trail is recorded on the blockchain.

This will help to maintain transaction integrity, Dedoco said in its statement. The startup added that its clients span government organisations, banks and companies in the sectors of human resources, accounting, corporate services and real estate.

Dedoco plans to use the seed funding to expand into new markets and roll out new features over the next year or two, with an emphasis on increasing connectivity with cloud and system partners.

"Document security and privacy are vital for both MNCs (multinational corporations) and SMEs (small and medium-sized enterprises) alike because they protect important document data and business interests. We understand the infrastructure that needs to be developed and are working alongside enlightened organisations to build and strengthen their digital document workflows," said Dedoco's co-founder and chief executive Daphne Ng.

Chua Joo Hock, managing partner of Vertex Ventures South-east Asia, said: "The Covid-19 pandemic has led to an urgent need for companies to be digitally ready as virtual interactions have become a new 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."

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Dedoco's other investors include angel investors like Willy Arifin, who is also invested in Singapore's Homage and Indonesia-based BukuKas and KoinWorks, and Ong Chee Beng, who was most recently country manager of AWS Singapore.