AI document engineering startup Docugami raises $10M seed round in unusually large early stage deal

Docugami, a startup aiming to reinvent the way businesses create and extract information from documents, has raised an extraordinary $10 million in seed funding led by Silicon Valley venture fund SignalFire, with participation from NextWorld Capital and a large number of veteran tech execs and angel investors. The company, based in Kirkland, Wash., also announced Bob Muglia, the former Snowflake CEO and longtime Microsoft exec, as a "major investor" and board member. Docugami is led by co-founder and CEO Jean Paoli, a co-creator of the industry-wide XML 1.0 standard, Microsoft InfoPath and modern Microsoft Office file formats. The startup's technology uses artificial intelligence to help users create documents such as contracts and reports that can then be analyzed in the aggregate as if the contents were stored in a structured database. Docugami says it's creating new AI techniques using machine learning, computer vision, natural language processing and unique XML approaches.