Factify, an Israeli company, has announced a US$73 million seed funding round to develop a new standard for digital documents.

The round was led by Valley Capital Partners and included investors such as John Giannandrea, former head of AI at Google, and Ken Moelis, founder of Moelis & Co.

Factify aims to replace the PDF format, which remains the dominant document standard despite its limitations in tracking version history, access, and trustworthiness.

The company’s technology creates governed, intelligent records that embed identity, access controls, and audit trails within each document, enabling both human and AI interaction.

Factify is initially targeting regulated sectors like banking, insurance, legal, and HR, where document integrity is critical.

The funds will support platform expansion and US growth, including establishing a presence in Pittsburgh.

🔗 Source: Factify