Dedoco raises US$2.5M in Vertex-led round for its decentralised digital document and signing platform

(L-R) Dedoco CTO Dr. Ernie Teo and CEO Daphne Ng

Dedoco, a Singapore-based decentralised digital document and signing platform, announced today it has completed a seed investment of SGD 3.3 million (US$2.45 million), led by Vertex Ventures Southeast Asia.

With this capital, Dedoco will expand into new markets, and scale its platform and technology to support a robust product roadmap focusing on delivering the solution to organisations 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.

Co-founded in 2020 by tech entrepreneur Daphne Ng and Dr. Ernie Teo, Dedoco enables document authentication by securing real-time verification options while an audit trail is recorded on the blockchain to maintain transaction integrity. This, claims the startup, allows users to maintain greater governance and convenience over their daily processes.

Also Read: Electronic signing made easy for modern businesses

One of Dedoco’s key differentiators is its ability to provide privacy and security options to organisations and users.

The ability to deliver and complete documents digitally also removes the need for physical documents to be couriered.

Businesses across all industries are rapidly normalising the use of electronically signed contracts, agreements, and other legal documentation. It also provides its new feature “Sign with Singpass” by the Government Technology Agency of Singapore to more than 2.5 million registered Singpass app users so that they can digitally sign documents.

Dedoco has clients spanning government organisations, banks, professional services (HR, accounting, and corporate services), and real estate.

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.

“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 organisations to build and strengthen their digital document workflows,” said Daphne Ng, co-founder and CEO of Dedoco.

Also Read: LongHash Ventures launches US$15M fund to support early-stage blockchain startups

“Current competing solutions rely on centralised 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,” added co-founder and CTO Ernie Teo.

Dedoco has earlier received funding from 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).

Image Credit: Dedoco

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,Dedoco raises US$2.5M in Vertex-led round for its decentralised digital document and signing platform | e27
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