Dedoco raises US$3 M from TGV and US$2m in follow on funding from VVSEAI

SINGAPORE, 7 April 2022 - Vertex Ventures Southeast Asia (VVSEAI)’s portfolio, Dedoco, which enables organizations to better manage digital workflows, increasing overall security, trust, and transparency through blockchain technology, just secures US$3million from True Global Ventures 4 Plus (TGV4 Plus) Fund to fuel its global expansion. VVSEAI continues to support Dedoco and participated in the follow-on with US$2 million.

(From left to right: Dr Ernie Teo and Daphne Ng)

TGV is also an early investor of prominent projects such as blockchain unicorns Animoca Brands and Sandbox, as well as recently listed marketplace trading platform, Forge Global in the US.

Dedoco is a next-generation digital DMaaS (Document Management as-a-Service) that is built on blockchain technology, providing increased data privacy and document security to users. Founded in 2020 by Daphne Ng and Dr Ernie Teo, the latest investment brings Dedoco’s total amount raised to US$7.5 million; following the company’s seed round led by Vertex Ventures SEA & India (VVSEAI) in July 2021.

In the last 12 months, the company embarked on its international expansion and now has presence in Australia, Singapore, Malaysia, Thailand and with its sights set on new markets this year, including the US. Its current clients and partners span over 150 across government, banks, financial institutions, real estate, professional services, and technology platforms. They range from organizations like ERA Realty Network, GovTech Singapore, Nexia TS, among many others.

 

By utilizing blockchain, every Dedoco-issued document is trusted, verifiable, and interoperable across multiple systems. Thus supporting companies in their transition to web3, by providing essential, practical applications that solve universal pain points not yet addressed by other providers.

In addition to Dedoco’s decentralized workflow and signing apps,

• Dedoco Verify tracks the chain of custody of a digital document and tamper-proofs the evidential audit trail, providing trusted records for both internal and external audits.****
• Dedoco Document Check feature helps Signers verify the document version before signing or approving the document; solving a US$42 billion global pain point for agreements and legal contracts, and safeguarding business interests.****
• Dedoco vCerts enables organizations to issue blockchain-verifiable certificates that are ERC721 standard and OpenCerts compatible. This ensures that credentials, such as academic and skills certificates, licenses, and memberships, have not been tampered with, protecting both the issuer and recipient.****
• Dedoco Form-as-a-service is a customizable workflow solution that integrates easily with any repository to create digital forms and link them to workflows for digital collaboration. ****
• Dedoco VideoSign serves as a virtual meet-and-sign solution, allowing for a holistic experience to achieve greater efficiency and caters to documents that require identification and witnessing of signing parties. Aside from tamper-proofing the recording process, the full evidence capture is tied to the digital document and verifiable on the blockchain.

 

“As a pioneer equity investor in the web3 space since 2017, Dedoco is one of the very few blockchain companies globally that has successfully secured mass enterprise adoption through providing practical applications that businesses understand and need. In addition, we are seeing a phenomenon in the recent few quarters where big techs and enterprises, especially banks, FIs and fintechs are fast adopting new technologies to help them solve complex challenges relating to compliance and security. As long as Dedoco continues to solve these critical challenges and stay focused on their enterprise SaaS strategy, they will continue their strong acceleration of adoption globally”, added Kelly Choo, Founding Partner of TGV4 Plus.

 

Start-ups can reach out via LinkedIn or through the Fund’s Contact page:

https://www.tgv4plus.com/contact.html

About Dedoco

Dedoco is a digital DMaaS (document management as-a-service) platform that focuses on data privacy, document security and provides customers across a range of sectors with trusted, verifiable and connected documents. As an industry-leading solution that is ISO/IEC 27001:2013 certified and Infocomm Media Development Authority (IMDA) accredited, Dedoco improves efficiency and compliance whilst ensuring a no-store, tamper-proof solution. In maintaining the highest transaction integrity, Dedoco seeks to transform the way organizations manage document workflows.

For more information, visit https://www.dedoco.com

Media contact: media@dedoco.com**
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